We crunched results of 1130 firms to understand how FY21 really unfolded
- An in-depth analysis of the FY2020-21 balance sheets of over 1,100 listed firms reveals some interesting trends.
- One major area of cost-cutting was compensation to employees, whether in the form of laying off staff, employing contract labour for fewer days, or by pruning salaries
BENGALURU : Real estate developer Mahindra Lifespaces entered financial year 2020-21 with a modest 3% growth in net sales. It exited 2020-21 with a steep 73% drop in net sales. The pandemic compelled people to stay indoors, but they bought fewer new homes. Mahindra’s stock of unsold houses rocketed from two times its net sales to six times.