Page 4 - Macrotech Developers

Macrotech Developers' sales bookings up 12% annually to Rs 3,530 cr in Q2

Realty firm Macrotech Developers on Thursday reported a 12 per cent year-on-year growth in sales bookings to Rs 3,530 crore during the July-September period on strong housing demand. The company had clocked sales bookings of Rs 3,150 crore in the corresponding period of the last financial year. In a regulatory filing, Macrotech Developers, which sells its projects under the Lodha brand, informed that the company achieved its best-ever quarterly pre-sales performance of Rs 3,530 crore in Q2 of FY'24. Macrotech Developers said it has achieved 48 per cent of its FY24 pre-sales guidance fixed at Rs 14,500 crore. In the entire 2022-23 financial year, Macrotech Developers had clocked a sales bookings of Rs 12,060 crore. Fund collections from customers stood at Rs 2,752 crore, up 16 per cent year-on-year (YoY). "Strong underlying end-user demand for branded homes enabled us to deliver our best-ever quarterly pre-sales. This was despite the fact that this is generally the weakest quarter

Macrotech eyes Rs 12k-cr sales revenue from land parcels in MMR, Bengaluru

Realty firm Macrotech Developers Ltd has acquired five land parcels in Mumbai region and Bengaluru during April-June quarter to develop housing projects with a revenue potential of Rs 12,000 crore. Macrotech Developers MD and CEO Abhishek Lodha said the company has added new projects worth Rs 12,000 crore in the first quarter of this fiscal year as against the annual guidance of Rs 17,500 crore. "We are not revising our annual target for new business development as of now," he told PTI. Macrotech Developers, which sells its properties under the Lodha brand, buys land outrightly and also forms joint development agreements (JDAs) with landowners to create pipeline for future real estate projects. "We are preferred partner for landowners for both outright deals as well as JDAs," Lodha said. According to an investor presentation, the company added four land parcels in Mumbai Metropolitan Region (MMR) and one in Bengaluru. Five projects with around Rs 12,000 crore GDV (gross developme

Macrotech Developers invests Rs 1,000 cr on construction in Apr-Jun

Realty firm Macrotech Developers invested Rs 1,000 crore during the April-June period on the construction of various projects and will pump in Rs 3,500 crore more by March next year as part of its strategy to ramp up execution capabilities. Macrotech Developers, which sells its properties under the Lodha brand, has a major presence in Mumbai Metropolitan Region (MMR) and Pune. It has entered into Bengaluru market as well. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha expressed satisfaction over the operational performance of the company during the first quarter of this fiscal and was confident of achieving the targeted 20 per cent growth in sales bookings to Rs 14,500 crore. He said the housing demand has been very strong for the last two years on pent up demand post the COVID pandemic and people's aspiration to own better and bigger homes from branded developers. To encash this demand, Macrotech Developers plans to launch 22 new projects by March next ye

Macrotech Developers to launch 22 realty projects by March next year

Realty firm Macrotech Developers Ltd will launch 22 new projects by March next year across Mumbai Metropolitan Region (MMR), Pune and Bengaluru with an estimated sales revenue potential of Rs 12,560 crore as it seeks to tap rising housing demand. Macrotech Developers, which sells its properties under the Lodha brand, said in an investor presentation that the company launched 1.8 million square feet area in the first quarter of this fiscal year having a revenue potential of Rs 1,510 billion. The company also announced plans to launch 22 projects, having 9.4 million square feet area of saleable area, in the remaining months of this fiscal. The revenue potential is around Rs 12,560 crore. "In terms of sales bookings, we had our best ever first quarter. Our sales bookings increased 17 per cent to Rs 3,350 crore. We did not launch many projects in the first quarter. So, the sales were driven by inventories in ongoing projects," Macrotech Developers MD and CEO Abhishek Lodha told PTI. "

Macrotech Developers Q1 profit falls 34% to Rs 179 cr; sales booking jumps

Realty firm Macrotech Developers on Thursday reported a 34 per cent decline in its consolidated net profit to Rs 179.2 crore for the June 2023 quarter on lower income. Its net profit stood at Rs 271.3 crore in the year-ago period. The total income fell to Rs 1,671.8 crore in the April-June quarter of 2023-24 from Rs 2,675.8 crore in the corresponding period of the previous year, said Macrotech Developers in a regulatory filing. Macrotech Developers, which sells its properties under the Lodha brand, has a major presence in Mumbai Metropolitan Region (MMR) and Pune markets. It has also forayed into the Bengaluru market. Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers Ltd, said, "Q1 FY24 has turned out to be our best ever 1st quarter pre-sales performance. Our pre-sales for the quarter at Rs 3,350 crore grew by 17 per cent". "This reinforces our belief in the sustainable nature of the strong housing demand. With the likelihood of a downward journey of ..

Macrotech Developers Q1 bookings up 17% at Rs 3,350 cr; adds 5 new projects

Realty firm Macrotech Developers has reported a 17 per cent increase in sales bookings at Rs 3,350 crore in the first quarter of this fiscal and added five new land parcels to develop projects with sales potential of around Rs 12,000 crore. Macrotech Developers, which sells properties under the Lodha brand, had sold properties worth Rs 2,860 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company achieved its best-ever first quarter pre-sales performance at Rs 33.5 billion (Rs 3,350 crore) showing a growth of 17 per cent on a year-on-year basis. The company also announced the addition of five new projects with GDV (gross development value) potential of around Rs 12,000 crore across different micro-markets. Abhishek Lodha, MD & CEO of Macrotech Developers, said, "with a strong start for the year, the performance achieved is in line with our guidance of 20 per cent pre-sales growth for FY24." The demand conditions remain robust with a ...

Macrotech Developers sales bookings up 17% to Rs 3,350 cr in Apr-June qtr

Realty firm Macrotech Developers on Tuesday reported a 17 per cent growth in its sales bookings at Rs 3,350 crore in the first quarter of this fiscal year, mainly on better housing demand. Macrotech Developers, which sells properties under Lodha brand, had sold properties worth Rs 2,860 in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company achieved its best-ever first quarter pre-sales performance at Rs 33.5 billion (Rs 3,350 crore) showing a growth of 17 per cent on a year-on-year basis. Macrotech Developers Ltd is one of the leading real estate developers in the country. It is developing real estate projects in Mumbai Metropolitan Region (MMR), Pune and Bengaluru.

Macrotech Developers hits 52-week high; surges 5% on healthy outlook

MDL's operating performance is expected to remain healthy in FY24, supported by healthy enduser demand, strong launch pipeline and healthy affordability, while maintaining a reducing debt trajectory.

Nifty Realty index at highest level since Feb 22; surges 25% in two months

Motilal Oswal continues to see re-rating potential in companies, which would provide further growth visibility on the back of strong business development through robust cash flows.

Five of India's ten richest realty barons saw wealth erosion last year

Among the top 10, Mangal Prabhat Lodha and family of Macrotech Developers saw the steepest wealth erosion of 20 per cent in 2022-23: Grohe-Hurun India Real Estate Rich List 2023

BSE Realty index hits 8-month high; Mahindra Lifespace, DLF soar up to 7%

Since April, in past one-and-half months, the S&P BSE Realty index has rallied 21 per cent, as compared to 5.8 per cent rise in the S&P BSE Sensex.

Macrotech to invest about Rs 2,500 cr this fiscal on land acquisition

Macrotech Developers will invest around Rs 2,500 crore this fiscal to buy land and to pay its joint venture partners against land acquired in the previous years. Mumbai-headquartered Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It buys land outright as well as enters into joint development agreements (JDAs) with land owners to create a pipeline of future projects. "The total investment that we envisage this year into land is about Rs 2,500 crore, which includes all the new land plus any partner share for whatever land we have taken on JDA (joint development agreement) in the past years," Macrotech Developers MD and CEO Abhishek Lodha told investors. According to a transcript of interactions with investors posted on stock exchanges, Lodha said the JDA projects tend to have investments, which is between 5 per cent and 10 per cent of the GDV (gross development value). "And the outright lands tend to hav

Macrotech Developers to invest Rs 4,500 cr in FY23 on real estate projects

Macrotech Developers Ltd will invest Rs 4,500 crore this fiscal year on construction of real estate projects as it seeks to ramp up execution capabilities amid strong housing demand. Mumbai-headquartered Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha noted that the demand for residential properties continues to be strong despite increase in mortgage rates as well as housing prices. Its sales bookings grew 34 per cent in 2022-23 to Rs 12,014 crore and it has set a target of 20 per cent growth to Rs 14,500 crore in the current financial year, he highlighted. Lodha noted that the company generated Rs 4,600 crore worth of net operating cash flow surplus which reflects its strength to convert land into real estate products, and then building as well as selling it in a timely manner. The surplus cash flow was used for investment on la

Macrotech adds 12 land parcels in FY23 to build new projects to meet demand

Realty firm Macrotech Developers has added 12 land parcels for the development last fiscal, with an estimated revenue potential of nearly Rs 20,000 crore as it seeks to expand the business to tap rising housing demand. The company had given a guidance of Rs 15,000 crore for new business development for 2022-23 fiscal. Macrotech Developers, which sells its properties under the Lodha brand, acquires land outright and also enters into joint development agreements (JDAs) with landowners to expand the business. It mainly focuses on Mumbai Metropolitan Region (MMR) and the Pune market. It has entered Bengaluru recently. "We continue to remain the preferred partner for various landowners across micro-markets for JDA partnerships," Macrotech Developers MD and CEO Abhishek Lodha said. The company has added 12 projects in FY23 on 14 million square feet for a combined GDV (gross development value) of Rs 19,800 crore, he added. "Business growth robustness continues to strengthen with a ...

Macrotech sells properties worth Rs 12,064 cr in FY23, sales rise 34%

Realty firm Macrotech Developers' sales bookings rose 34 per cent to a record Rs 12,064 crore in the last fiscal, on better demand despite rise in interest rates on home loans. Mumbai-based Macrotech Developers, which sells homes under the Lodha brand, is one of the leading real estate firms in the country. In a regulatory filing, Macrotech Developers said it has delivered a strong pre-sales momentum with sales bookings of Rs 3,025 crore in the fourth quarter of last fiscal and Rs 12,064 crore for 2022-23 fiscal. The company said it has surpassed the full-year guidance of Rs 11,500 crore. The collections of money from customers stood at Rs 10,606 crore for FY23, up 23 per cent YoY (year-on-year). Net debt has further reduced to Rs 7,071 crore, showing a decline of Rs 2,229 crore for the year. Abhishek Lodha, MD & CEO, Macrotech Developers, said the company has achieved yet another quarter of strong performance enabling us to surpass its annual guidance. "The icing on the cake is

Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%

In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

Macrotech Developers surges 6% on heavy volumes; stock up 26% in 4 days

According to analysts, Macrotech Developers is expected to benefit from resilient housing demand, supply consolidation and peaking out of high interest rates.

Macrotech Developers aims to cut debt by nearly 40% in 2023: MD Lodha

Realty firm Macrotech Developers Ltd aims to cut its net debt by nearly 40 per cent to around Rs 5,000 crore by the end of this calendar year with the help of surplus cash flow from strong housing sales, a top company official said. Mumbai-based Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha sounded bullish on the long term growth potential of India's residential real estate market. Sales bookings and cash flows have been very strong so far this fiscal year, resulting in reduction in debt by Rs 753 crore in the December quarter to Rs 8,042 crore, he said. "We are hoping to reduce debt further by Rs 1,000 crore by end of this fiscal year to about Rs 7000 crore," Lodha said. The company plans to cut debt by Rs 500-800 crore every quarter. "We will hope to be close to Rs 5,000 crore of net debt sometime by end of this calendar ye

Macrotech Developers Q3 net rises to Rs 404 cr, income dips to Rs 1,902 cr

Realty firm Macrotech Developers Ltd on Tuesday reported a 41 per cent increase in its consolidated net profit at Rs 404.98 crore for the quarter ended December. Its net profit stood at Rs 286.38 crore in the year-ago period, the company said in a regulatory filing. However, the total income fell to Rs 1,902.44 crore in the third quarter of this fiscal year from Rs 2,155.70 crore in the corresponding period of the previous year. Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. It focuses on Mumbai Metropolitan Region (MMR) and Pune -- the two biggest property markets in Maharashtra. It has recently forayed into the Bengaluru residential market.

Higher demand drives record quarterly bookings for realty majors

Higher sales, improving cash flows are expected to drive further debt reduction for the sector