Page 3 - Macrotech Developers

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

Macrotech Developers trim debt by 55% to Rs 3,010 cr in March quarter

Realty firm Macrotech Developers Ltd has reduced its net debt by 55 per cent in the fourth quarter of the last fiscal to Rs 3,010 crore with the help of internal accruals and equity fundraising. Its net debt stood at Rs 6,750 crore as of December 31, 2023. Macrotech Developers, which sells properties under the brand Lodha, is one of the leading real estate developers in India. The company's net debt stood at Rs 3,010 crore as of March 31, 2024, down 55 per cent from the previous quarter, according to a regulatory filing. The net debt is 57 per cent lower than Rs 7,070 crore at the end of the 2022-23 fiscal. Surplus cash flow generated from the business, coupled with the raising of equity capital, helped the company in reducing the net debt. "On the back of strong operating cash flow generation and recently concluded equity raise, our net debt further reduced to Rs 3,010 crore," the company said. The company had a target to bring down the net borrowings to Rs 6,000 crore level by

Macrotech Q4 sales bookings up 40% at Rs 4,230 cr on strong housing demand

Realty firm Macrotech Developers Ltd on Friday reported a 40 per cent annual growth in its sales bookings to Rs 4,230 crore in the fourth quarter of last fiscal driven by strong housing demand. Its sales bookings stood at Rs 3,030 crore in the year-ago period. Macrotech Developers, which sells its properties under the Lodha brand, registered a 20 per cent growth in its sales bookings to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year, according to a regulatory filing. "We had Q4, FY24 pre-sales of Rs 4,230 crore - our best quarterly performance ever, up 40 per cent on YoY (year-on-year) basis," Macrotech Developers said. "For FY24, pre-sales were Rs 14,520 crore - once again our best-ever annual pre-sales performance, thus meeting our guidance of delivering consistent and predictable 20 per cent growth," it added. The company's net debt has come down to Rs 3,010 crore as on March 31, 2024, from Rs 7,070 crore at the end of the previous ...

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Macrotech Developers raises Rs 3,300 crore capital through QIP route

Realty firm Macrotech Developers Ltd on Thursday said it has raised Rs 3,300 crore by selling shares to institutional investors. In a statement, the company said it has successfully closed the Qualified Institutional Placement (QIP). The QIP was oversubscribed nearly 3 times within 5 hours of issue opening and witnessed traction from a diversified set of investors with a long-term outlook, including sovereign funds, pension funds, insurers etc. This is the fourth equity raise by Macrotech Developers in the last 36 months and the company has raised over Rs 13,000 crore. The entire book was allocated to marquee global investors. Existing shareholders of the company such as Capital Group, GQG, Nomura, ADIA, and HDFC Life reaffirmed their faith in the company by enhancing their investment through this QIP, the statement said. The institutional placement also saw new marquee investors like Invesco Oppenheimer, Blackrock, Carmignac, Franklin Templeton, Norges, Lazard, APG and RWC etc.

'Macrotech Developers aims to generate surplus cash in Q4, reduce debt'

Realty firm Macrotech Developers Ltd will focus on generating surplus cash flow and reducing debt by at least 11 per cent this quarter to Rs 6,000 crore helped by strong housing demand, its MD and CEO Abhishek Lodha said. In an interview with PTI, he expressed confidence in achieving sales bookings guidance of Rs 14,500 crore for this fiscal year on the back of a strong launch pipeline in the current January-March quarter. Mumbai-based Macrotech Developers markets its properties under the Lodha brand. It is one of the leading real estate developers in the country with a major presence in Mumbai Metropolitan Region (MMR) and Pune. "Under new business development, we have already added many land parcels in the first nine months of this fiscal with an estimated revenue potential of Rs 20,300 crore as against the full-year target of Rs 17,500 crore. We will not be adding any meaningful projects this quarter," Lodha said. Macrotech Developers buys land outright and also partners with ..

Macrotech Developers to launch 11 projects with Rs 6K cr revenue potential

Looking to tap rising housing demand, realty firm Macrotech Developers will launch 11 projects in Mumbai, Pune and Bengaluru this quarter with an estimated revenue potential of Rs 6,260 crore. Mumbai-based Macrotech Developers is one of the leading real estate developers in the country. It has a major presence in Mumbai Metropolitan Region and Pune. The company markets its properties under the Lodha brand. In an investor presentation, the company said it has a strong launch pipeline in the fourth quarter of 2023-24. "Well placed to meet full-year pre-sales guidance with the launches planned in Q4," it said. Macrotech Developers said the company will launch a 4.4 million square feet area during the January-March quarter, of which 1 million square feet would be in Bengaluru and 0.8 million square feet in Pune. The remaining area will be in Mumbai Metropolitan Region (MMR). During the first nine months of this fiscal, Macrotech has already launched a 6.6 million square feet area with

Macrotech Developers Q3FY24 results: Net profit up 25% at Rs 505 cr

Realty firm sees strong demand boost, with sales and income surging

Macrotech Developers Q3 results: Net profit rises 25% to Rs 505 crore

Realty firm Macrotech Developers Ltd on Saturday reported a 25 per cent increase in its consolidated net profit to Rs 505 crore for the third quarter of this fiscal year. Its net profit stood at Rs 405 crore in the year-ago period. Total income rose to Rs 2,958.7 crore in the October-December period of the 2023-24 financial year from Rs 1,902.4 crore in the corresponding period of the previous year, according to a regulatory filing. Mumbai-based Macrotech Developers is one of the leading real estate developers in the country. The company markets its properties under Lodha brand.

Macrotech Developers reports 12% rise in sale bookings to Rs 3,410 cr in Q3

Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company has achieved its best ever third quarter pre-sales performance. MD & CEO Abhishek Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer's desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen." On the back of steady rise in income levels and ample job creation, this desire is translating into robust demand for high quality homes, he added. Lodha said this fundamental driver of demand has enabled the company to deliver its best ever Q3 pre-sales performance at Rs 3,410 ...

Macrotech aims to trim net debt to below Rs 6,000 cr by March: MD Lodha

Realty firm Macrotech Developers aims to bring down its net debt to below Rs 6,000 crore by March next year from Rs 6,730 crore at the end of September quarter with the help of better cash flow. Macrotech Developers, which markets its properties under Lodha brand, has a presence in Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. "We have reduced our net debt by about Rs 540 crore in the second quarter of this fiscal to Rs 6,730 crore. Our target would be to reduce debt to below Rs 6,000 crore by end of this fiscal year," Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha told PTI. The aim is to keep net debt below operating cash flow, which is estimated to be Rs 6,000 crore during 2023-24, he said. Lodha said the company had a strong performance during the September quarter on all important metrics -- sales bookings, collections of fund from customers against sales and acquisition of new land parcels for business development. "Our focus

Macrotech to invest Rs 800 cr to construct 2 housing projects in Bengaluru

Macrotech Developers will invest about Rs 800 crore to construct two housing projects in Bengaluru where it has entered to expand business amid strong demand, its MD & CEO Abhishek Lodha said. Macrotech Developers, which markets its properties under Lodha brand, has a significant presence in Mumbai Metropolitan Region (MMR) and Pune. In June last year, the company had announced its entry in the Bengaluru market by forming a joint venture to develop its first housing project. Later, it added one more housing project in the IT city. Macrotech Developers this month launched its first residential project in Bengaluru. "We are targeting to launch the second project in the fourth quarter of this fiscal. It may slip to the first quarter of the next financial year," Lodha told PTI. Asked about construction cost of these two projects, he said it is estimated to be Rs 800 crore. The gross development value or sales value is expected to be around Rs 2,500 crore from these two projects, Lodh

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Macrotech adds 7 land parcels in H1 to build Rs 14,300 cr housing projects

Looking to expand its business, Macrotech Developers added 7 new land parcels in the Mumbai region and Bengaluru during the April-September period for development of housing projects having sales value of Rs 14,300 crore. Macrotech Developers, which sells properties under the 'Lodha' brand, added these land parcels through outright purchases and joint ventures with landlords. In an interview with PTI, Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha said the company during the first half of 2023-24 fiscal added multiple land parcels, which have a potential saleable area of 8.3 million square feet with an estimated sales value of Rs 14,300 crore. "For new business development, we gave a guidance of Rs 17,500 crore for this financial year. We have added new projects that have a gross development value of Rs 14,300 crore. So, we have already achieved more than 80 per cent of our annual target," he said. Out of seven, six land parcels have been added in

APL Apollo, Tata Motors, Lodha seen getting added to MSCI indices

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Realty firm Macrotech to launch housing projects worth Rs 12,000 cr by Mar

Realty firm Macrotech Developers Ltd plans to launch housing projects worth Rs 12,000 crore by March next year to tap strong consumer demand for quality homes from branded players, its MD and CEO Abhishek Lodha said on Monday. With strong launch pipeline, Lodha exuded confidence that the company would easily achieve the Rs 14,500 crore sales booking target fixed for the current fiscal year as against Rs 12,070 crore in the previous year. Macrotech Developers, which sells properties under 'Lodha' brand, has already achieved sales bookings of Rs 6,890 crore during the first six months of this fiscal. In an interview with PTI, Lodha said the company's operational performance during the first six months of the current 2023-24 fiscal was very strong in terms of sales bookings, collections from customers and new business development, which means acquiring new land parcels through outright and joint ventures. The company launched 3.7 million square feet of area during the first six months

Macrotech Developers posts net profit at Rs 202.8 cr in Jul-Sep quarter

Realty firm Macrotech Developers Ltd on Saturday reported a consolidated net profit of Rs 202.8 crore for the July-September quarter of this fiscal. The company had posted a net loss of Rs 932.9 crore in the year-ago period. Total income declined marginally to Rs 1,755.1 crore in the July-September period of the 2023-24 fiscal from Rs 1,761.2 crore in the corresponding period of the previous year, according to a regulatory filing. Macrotech Developers sells properties under 'Lodha' brand. Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers, said, We achieved our best ever quarterly pre-sales performance at Rs 3,530 crore showing 12 per cent YoY (year-on-year) growth in spite of the quarter being the seasonally weakest." With this strong performance, the company has achieved pre-sales of Rs 6,890 crore in the first half of this fiscal, its best-ever first half in terms of pre-sales or sales bookings. "On the ground, demand conditions continue to strengthe

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