Page 2 - Macrotech Developers

Macrotech net debt rises 43.5% to Rs 4.3K cr in Q1 on higher capex for land

Realty firm Macrotech Developers Ltd's net debt rose 43.5 per cent to Rs 4,320 crore during the first quarter of this fiscal year due to higher investment in land acquisition and construction. Mumbai-based Macrotech Developers, which sells its projects under the Lodha brand, is one of the leading developers in the country. According to its latest investors presentation, the company's net debt stood at Rs 4,320 crore as of June 30, 2024, against Rs 3,010 crore at the end of the March quarter of 2023-24. The net debt stood at Rs 4,320 crore, 0.24 times equity, well below the ceiling of 0.5 times equity, the presentation said. The investment in growth led to an increase in net debt, the company added. According to a transcript of discussions with analysts, Macrotech Developers MD and CEO Abhishek Lodha said, "In spite of the significant level of business development plus a significant ramp up in construction spend in this quarter, our net debt stood at Rs 4,300 crores, which is 0.24

House of Abhinandan Lodha eyes 30% growth in property sales in FY25

Realty firm The House of Abhinandan Lodha, which is into development of residential plots, reported a 3-fold jump in sales bookings last financial year to Rs 1,800 crore and is targeting at least a 30 per cent growth in 2024-25, amid strong consumer demand. Mumbai-based The House of Abhinandan Lodha, which was formed in 2021, has already launched nearly 10 plotted development projects covering 650 acres in Maharashtra, Goa, and Ayodhya in Uttar Pradesh. The company has sold plots in a price range of Rs 10 lakh to Rs 15 crore, depending on the location. In an interview to PTI, the company's Chairman Abhinandan Lodha noted that the demand for housing plots has been very strong post-COVID pandemic. Asked about operational performances, he said, "In the last fiscal, we did close to Rs 1,800 crore of sales bookings as against around Rs 570 crore in the 2022-23 fiscal. We expect our sales to continue to grow at 30 per cent or more in the current fiscal." Lodha said the company's profit a

Real estate majors DLF, Macrotech among most valued family businesses

Sobha's Ravi PNC Menon and Macrotech's Abhishek Lodha found places in the list of the youngest leaders in the 2024 Barclays Private Clients Hurun India most valuable real estate family businesses

Macrotech Developers Q1 results: Profit jumps to Rs 475 cr on higher income

Realty firm Macrotech Developers on Tuesday reported a 2.7-fold jump in its consolidated net profit to Rs 475.3 crore for the June 2024 quarter on higher income. Its net profit stood at Rs 178.4 crore in the year-ago period. Total income grew to Rs 2,918.3 crore during the April-June period of this fiscal year from Rs 1,671.8 crore in the corresponding period of the preceding year. Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, said, "Q1, FY'25 was our best ever 1st quarter with Rs 4,030 crore of pre-sales our 2nd consecutive quarter of over Rs 4,000 crore pre-sales. The icing on the cake is that these strong pre-sales have come alongside robust embedded EBITDA margins of 33 per cent." "Delivery of strong pre-sales from a diverse portfolio of projects with strong margins showcases the predictability and consistency of our business model," he added. Lodha highlighted that the company's pre-sales in Pune stood at more than Rs 1,000 crore in Q1 (more than 50 per cent of its .

Real estate demand to remain buoyant in India, says Abhinandan Lodha

Lodha firm targets Rs 2,400 cr revenue in FY25

Macrotech acquires 3 land parcels during April-June quarter in Mumbai, Pune

Bullish on housing demand, realty firm Macrotech Developers has acquired three land parcels in the Mumbai region and Pune during the April-June quarter to develop projects with a revenue potential of more than Rs 11,000 crore. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, is acquiring land parcels through two routes -- outright purchases and partnerships with landowners. Giving an update on business development, Macrotech Developers said, "We added three projects in MMR (Mumbai Metropolitan Region) and Pune having Rs 11,100 crore of GDV (gross development value), which is more than 50 per cent of full-year guidance of Rs 21,000 crore". The company, in its latest operational updates, did not mention whether it bought outright or entered into joint development agreements (JDAs) with landowners. During 2023-24, the company added many new land parcels to build housing projects with a potential sales value of over Rs 20,000 crore. To expand busi

Macrotech Developers Q1 sales up 20% at Rs 4K cr on strong housing demand

Macrotech Developers has posted a 20 per cent growth in sale bookings to Rs 4,030 crore for the first quarter of this fiscal year as housing demand continues to be strong. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,350 crore in the year-ago period. As per its latest operational update posted on stock exchanges, the collection from customers rose 12 per cent to Rs 2,690 crore in April-June FY25 from Rs 2,400 crore in the corresponding period of the previous year. The company registered 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore during 2023-24 as against Rs 12,060 crore in the previous year. It has given a guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore. Macrotech Developers, which has a significant presence in Mumbai Metropolitan Region (MMR) and Pune and has just entered Bengaluru, will launch 17 housing projects this fiscal year, having a

Macrotech and Oberoi Realty elevate Mumbai skyline with highrise sales

Architects of market dominance: Leading largecap realty stocks with 29% to 33% gains in recent surge

India will need to build 100 mn homes this decade amid rising incomes

In 2023 about 600,000 primary homes were built in India and even a fast pace of growth in the construction sector would struggle to meet the demand for 100 million homes

Sales momentum, portfolio reinforces outlook for Macrotech, Oberoi Realty

The near term trigger is a 22 per cent rise in housing units registered in Mumbai for May to 12,000 units, the highest for the month in the last twelve years

Stocks to watch on May 15: M&M, Radico Khaitan, Macrotech Developers

Across Asia, market sentiment is predominantly positive, tracking Wall Street gains. At 7:26 AM, Japan's Nikkei rose 0.47 per cent, while Korea's Kospi soared 0.11 per cent

Macrotech Developers to invest Rs 3,500-4,000 cr to acquire land parcels

Realty firm Macrotech Developers Ltd will invest Rs 3,500-4,000 crore this fiscal to acquire new land parcels, outright and through joint development agreements with landlords, to build housing projects as part of its expansion plan to encash a surge in demand for residential properties. Macrotech Developers, which markets its properties under Lodha brand, is one of the leading developers in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune, while the company has just entered the Bengaluru market. According to a transcript of earning calls with analysts, Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha said the company will invest Rs 3,500-4,000 crore on new business development, which means acquiring land parcels for future development. The total spend on "new business development" will be about "Rs 35 to 40 billion", he said, adding that there would be some outflow for land acquired in previous years. In the case of

Not in 'rat race' to be top builder in terms of sale bookings: Macrotech MD

Realty firm Macrotech Developers is not in a "rat race" to become the top builder in terms of sale bookings and will rather focus on achieving consistent and predictable growth with high-profit margins, its MD and CEO Abhishek Lodha said. Macrotech Developers, which markets its properties under Lodha brand, registered a 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year. It has given guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore. When asked about the reason for setting a conservative sale bookings guidance considering that few players posted more than Rs 20,000 crore pre-sales in FY24 itself, Lodha told PTI, "We are not in any rat race and neither our shareholders are bothered about any such rat race." "We want to achieve consistent growth. Consistent growth and predictable growth with low leverage is very important and that is our business .

Macrotech Developers to launch 17 housing projects worth Rs 12K crore

Macrotech Developers will launch in this fiscal 17 housing projects, having a revenue potential of Rs 12,000 crore, to boost its sale bookings that hit a record in 2023-24 riding on strong demand. According to an investors presentation, Macrotech Developers-- which markets its properties under Lodha brand -- will launch 10 new projects and 7 new phases in existing residential projects during 2024-25 across Mumbai Metropolitan Region (MMR), Pune and Bengaluru. The total area to be launched is estimated at 10.1 million square feet with an estimated gross development value (GDV) of Rs 12,100 crore. However, the company said the guidance for launch pipeline of this fiscal might shoot up as it might acquire more land parcels and be able to launch in this financial year itself. Even during FY24, Macrotech Developers cited that the company launched projects worth Rs 18,000 crore as against the guidance of Rs 13,000 crore. Macrotech Developers, one of the leading real estate developers in

BSE Realty index down 1.5% in a firm market; Godrej Properties weighs

Real-estate stock update: Realty stocks were witnessing some profit-taking on Thursday, as the BSE Realty index has rallied over 23 per cent so far in 2024.

Macrotech to invest Rs 5,000 cr on construction of realty projects: MD

Realty firm Macrotech Developers will step up its investment this fiscal year on construction of projects to over Rs 5,000 crore in line with growth in sales and new supply, its MD and CEO Abhishek Lodha said. Macrotech Developers, which sells properties under the Lodha brand, is targeting to deliver more than 10,000 apartments during 2024-25, he said. In an interview with PTI, Lodha highlighted that the company achieved all its major targets for 2023-24 related to pre-sales, new land acquisition and debt reduction amid strong housing demand. He noted that demand would sustain as India's housing sector is probably in the third year of a long-term upcycle, driven by high economic growth and rising consumer preference towards home ownership over renting. Lodha said the company would be launching more projects and also adding more land for future development to maintain "consistent and predictable" growth trajectory. Asked about guidance for construction spend, he said, "We spent aro

Macrotech Developers aims 21% growth in pre-sales to Rs 17,500 cr in FY25

Realty firm Macrotech Developers has set a target to sell properties worth Rs 17,500 crore during the current fiscal, a 21 per cent growth from the previous year, as the company expects housing demand to remain strong, its MD and CEO Abhishek Lodha said. Macrotech Developers, which sells its properties under the Lodha brand, registered a 20 per cent growth in its sale bookings (also called pre-sales) to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year. "We met our guidance of delivering consistent and predictable 20 per cent growth in the sale bookings during the last fiscal year. The guidance for the current fiscal has been kept at Rs 17,500 crore, again 20 per cent growth from the 2023-24 fiscal," Lodha told PTI in an interview. He expects the housing demand to remain strong amid positive consumer sentiments and high economic growth. "Our best ever quarterly and annual performance showcases the buoyancy in demand for high quality homes in In

Lodha Q4 results: Net profit slips 10% to Rs 667 crore, FY24 profit up 300%

Realty firm Macrotech Developers reported its best ever quarterly and annual pre-sales performance with robust margins

Macrotech Developers Q4: PAT down 11% to Rs 665 cr, FY24 profit up 300%

Realty firm Macrotech Developers on Wednesday reported an 11 per cent decline in consolidated net profit to Rs 665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to Rs 1,549.1 crore. Its net profit stood at Rs 744.4 crore in the fourth quarter of 2022-23 and Rs 486.7 crore in the entire 2022-23 fiscal. The company's total income grew to Rs 4,083.9 crore in the quarter under review from Rs 3,271.7 crore in the year-ago period, the company said in a regulatory filing. During 2023-24, the company's total income rose to Rs 10,469.5 crore from Rs 9611.2 crore in the 2022-23 fiscal. Macrotech is one of the leading real estate firms in the country. The company markets its properties under Lodha brand.

Godrej Properties clocks record sales bookings in FY24 at over Rs 22,500 cr

Realty firm Godrej Properties on Tuesday reported a 84 per cent increase in sales booking to a record Rs 22,500 crore in the last financial year, on higher volumes amid strong consumer demand for residential properties. Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of Rs 21,040 crore during the last fiscal year. Macrotech Developers has reported sales of Rs 14,520 crore in the previous fiscal. DLF is yet to announce its numbers. These four listed entities are in the race to gain market share. In a regulatory filing, Godrej Properties said the company has achieved its best ever quarterly and annual sales in the fourth quarter of the last fiscal and for the full 2023-24, respectively. During the fourth quarter of the last fiscal, Godrej Properties' sales bookings more than doubled to Rs 9,500 crore year-on-year. Its sales bookings during the last fiscal grew by 84 per cent year-on-year to more than Rs