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Mahindra Logistics Q3 results: Rs 1,898 turnover, 19 per cent jump from last year
MUMBAI: After nearly three years in the doldrums, Mahindra Logistics has finally steered itself back into the black. The firm reported a consolidated revenue of Rs 1,898 crore for the third quarter ended 31 December 2025, a 19 per cent jump compared to the same period last year. This turnaround marks a “defining inflection point” for the integrated logistics provider, snapping a grim run of eleven consecutive loss-making quarters.
The recovery was broad-based. The freight forwarding segment surged by 33 per cent, while the mobility business grew 38 per cent on the back of new B2B contract wins. Even the express business saw a 19 per cent rise in volumes. Managing director and CEO Hemant Sikka attributed the revival to “sharper execution” and a ruthless approach to cost discipline. This included a strategic retreat from low-margin activities in the last-mile delivery business and the exit from unviable customer relationships.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed to Rs 103 crore, up from Rs 74 crore a year prior. While reported profit after tax stood at Rs 3.25 crore, the “operational” figure, stripping out a Rs 7.36 crore exceptional hit from new labour code retiral benefits, was a more robust Rs 9.2 crore.
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Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
