MOMMA’S not going down – at least, not yet.

After announcing last week that “Gypsy” would fold at the end of the month, its producers yesterday gave the show a reprieve, citing an upturn in box-office receipts and “concessions” to reduce the show’s overhead.

Bernadette Peters stars in the Sam Mendes-directed revival of the Jule Styne/Stephen Sondheim/Arthur Laurents chestnut, which opened May 1.

A production spokesman says the show is now booking through May 30, but hopes to stay open longer.

– with Post wire services