Anita Arjundas, 

Though revenues for FY16 remained flat vis-à-vis the previous year, sales in the residential business grew 17% to touch Rs 830 crore, the highest in the history of the company. What’s interesting is that this financial performance happened in a bad year for real estate companies in India, many of whom have been reeling from huge debt. Buoyed by this performance, Lifespaces entered the competitive Mumbai property market after a break of five years by announcing a project in the western suburbs, Integrated Cities and Industrial Clusters. Despite a subdued market for industrial land, Mahindra World City, Jaipur, added four new customers. That apart, three customers leased additional land in 2015-16. The result: the company’s stock consistently outperformed the BSE realty index for the period under consideration. During the year, Arjundas personally negotiated a deal to regain possession of a piece of land for which the company had paid Rs 100 crore as advance in 2011. The company had the rights to the property, thanks to a year-long negotiation which led to consent terms being signed, as opposed to continued litigation. Apart from all this, Arjundas continues her push to make Lifespaces an environmentally sustainable company.