Macrotech Developers announced that it has recorded pre-sales of Rs 4,030 crore in Q1 FY25, recording a growth of 20% on a YoY basis.
The real estate developer's pre-sales in the same period last year were Rs 3,350 crore.The companys collections stood at Rs 2,690 crore in Q1 FY25, up 12% on a YoY basis and 23% decline sequentially.
Despite the significant investments in business development, net debt stood at Rs 4,320 crore, well below the ceiling of 0.5x net debt/equity.
The company added three projects in MMR and Pune having Rs 11,100 crore of GDV which is more than 50% of full year guidance of Rs 21,000 crore.
The company stated that their consistent performance, robustness in business fundamentals and strong balance sheet has enabled credit rating upgrade to AA- (Positive) by Crisil.
Macrotech Developers (Lodha Group) is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.
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The companys consolidated net profit declined 10.6% to Rs 665.5 crore despite of 23.44% increase in revenue from operations to Rs 4,018 crore in Q4 FY24 over Q4 FY23.
The scrip rose 0.96% to currently trade at Rs 1,524.65 on the BSE.
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