Page 5 - Macrotech Developers

Macrotech Q3 sales bookings up 16% at Rs 3,035 cr; pre-sales rise 62%

Realty firm Macrotech Developers Ltd on Friday reported a 16 per cent growth in its sales bookings at Rs 3,035 crore in the third quarter of this fiscal on better housing demand. Macrotech Developers, which sells properties under the 'Lodha' brand, is one of the leading real estate developers of the country. In a regulatory filing, Macrotech Developers informed that the company has achieved its "best ever Q3 (October-December) pre-sales performance of Rs 3,035 crores showing a growth of 16 per cent on a YoY basis." During April-December period of 2022-23 fiscal, Macrotech Developers has clocked 62 per cent growth in its sales bookings to Rs 9,039 crore, from Rs 5,568 crore in the year-ago period. The total sales bookings in the first nine months of the current fiscal has already crossed pre-sales of Rs 9,024 crore achieved in the entire last financial year. "This puts us on track to surpass our full-year guidance of Rs 11,500 crore," the company said. The collections of money fro

Macrotech Developers to invest Rs 330 cr to build warehouse in Mumbai

Realty firm Macrotech Developers will invest Rs 330 crore to develop a premium warehousing project in Mumbai as part of its expansion plan and to tap rising demand from e-commerce and third-party logistic companies. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate firms in the country. The company said in a statement that Lodha Green Digital Infrastructure (LGDI) platform has acquired around 8 acres of land in Kurla, Mumbai. The land will be used for the development of about 4 lakhs square feet of Grade-A in-city fulfilment centre to provide the last mile warehousing infrastructure to 3PL, e-commerce and quick-commerce companies. "The development will involve a total investment of around Rs 330 crore and is expected to be completed in the next 12-18 months in phases," it added. Shaishav Dharia, Director, Lodha Green Digital Infrastructure, said this is the second acquisition in Mumbai. "We see that there is a huge demand

Macrotech Developers below QIP price after 7% fall today; down 25% in 1 yr

Macrotech Developers' promoters have raised Rs 3,547 crore by selling shares around 7.2% of the company's equity share capital to institutional investors at the offer price of Rs 1,026 per share

Macrotech Developers' promoters plan to raise Rs 3,500 crore via share sale

Realty firm Macrotech Developers' promoters plan to raise about Rs 3,500 crore by selling shares to institutional investors, according to sources. Mumbai-based Macrotech Developers sells its properties under the Lodha brand. In a regulatory filing late on Wednesday, Macrotech Developers informed that the company has launched Qualified Institutional Placement (QIP) of the equity shares. The QIP consists of an offer-for-sale (OFS) of shares by promoter group entities -- Sambhavnath Trust, Sambhavnath Infrabuild and Farms Pvt Ltd, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd. The promoters are selling shares for the purpose of achieving minimum public shareholding, the filing said. As on September 2022, promoters had 82.20 per cent stake in the company and they need to bring it down to 75 per cent in order to maintain the minimum 25 per cent public shareholding. Macrotech informed that the floor price has been fixed at Rs 1,022.75 per share but did not .

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

Macrotech Developers to launch 16 projects worth Rs 10,300 crore in H2 FY23

Realty firm Macrotech Developers plans to launch 16 new projects in the second half of this fiscal with an estimated sales potential of Rs 10,300 crore as it seeks to tap rising housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making an entry into the Bengaluru market with one housing project. According to an investor's presentation, the company launched a 4.4 million square feet area during the April-September period of this fiscal with an estimated sales booking of Rs 8,480 crore. For the second half of this fiscal, Macrotech Developers has lined up new launches of 16 projects, comprising a 7.3 million square feet area with an estimated sales value of Rs 10,300 crore. These projects would be a mix of fully-owned and joint development with landowners. In an interview with PTI last week,

Macrotech Developers looking to sell mall, office space: MD Abhishek Lodha

Realty firm Macrotech Developers plans to sell a shopping mall near Mumbai and 1.5-2 lakh square feet office space by March as part of the company's strategy to monetise non-core assets, its MD and CEO Abhishek Lodha said. He did not disclose the deal value of these 6.5-7 lakh square feet of commercial space. But, market sources said the value of these assets could be around Rs 800 crore. Mumbai-based Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making entry into Bengaluru market with one housing project. In an interview with PTI, Lodha sounded bullish on growth potential of India's primary residential market and highlighted that demand has been strong despite rise in interest rates on home loans following the RBI's move to hike repo rate by 190 basis points since May this year. During April-Septembe

Macrotech posts Rs 933-cr loss in Q2 on provisions made for UK biz

Realty firm Macrotech Developers Ltd on Tuesday reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate developers in the country. Its net profit stood at Rs 223.36 crore in the year-ago period, according to a regulatory filing. The profit (excluding exceptional item and forex) stood at Rs 367 crore, up 28 per cent year-on-year. The company's total income also fell to Rs 1,761.23 crore in the second quarter of this fiscal year from Rs 2,137.76 crore in the corresponding period of the previous year. Macrotech suffered a loss because of an exceptional item of Rs 1,177 crore. The Group had given loans to Lodha Developers UK Ltd and its subsidiaries from time to time for UK projects and has accrued interest thereon, Macrotech Developers said. "The current economic ...

Macrotech Developers' sales bookings up 57% to Rs 3,148 crore in Q2

Realty firm Macrotech on Thursday reported a 57 per cent increase in its sales bookings during the July-September quarter to Rs 3,148 crore on strong housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. Its sales bookings stood at Rs 2,003 crore in the year-ago period. "Lodha achieved its best ever Q2 pre-sales performance of Rs 3,148 crore, showing a growth of 57 per cent on a YoY (year-on-year) basis," the company said in a regulatory filing. The company's sales bookings have reached Rs 6,004 crore, which is 52 per cent of its guidance of Rs 11,500 crore for the full 2022-23 fiscal. On operational performance, Abhishek Lodha, MD and CEO of Macrotech Developers said, "Despite this being the seasonally weakest quarter, it is the 2nd time in the last 3 quarters when we have surpassed Rs 3,000 crore of pre-sales, suggesting a strong underlying housing demand, the attraction of Lodha Brand amon

Canada Pension Fund arm sells Macrotech shares worth Rs 736 crore

Ivanhoe Op India Inc sold 43,84,464 shares on NSE and 26,44,464 shares on BSE, amounting to a 1.5 per cent stake in the company

Macrotech Developers slips 8% after 2% equity changed hands via block deals

Till 10:11 am; around 6.2 million shares or 1.33 per cent of total equity of the company changed hands on the NSE, exchange data shows.

Sales, debt reduction shape strong outlook for Macrotech Developers

Realty company on track to meet FY23 target of Rs 11,500 crore in bookings

Macrotech Developers profit rises 68% to Rs 271 crore in June quarter

On the performance, Macrotech Developers Ltd MD and CEO Abhishek Lodha highlighted that the April-June period was its best-ever first quarter with Rs 2,814 crore of pre-sales from India business.

Macrotech Developers Q1 sales bookings up nearly 3-fold to Rs 2,814 crore

Realty firm Macrotech Developers on Wednesday reported a nearly three-fold jump annually in its sales bookings at Rs 2,814 crore in the April-June quarter of this fiscal on strong demand for its residential properties. Macrotech Developers sells its properties under Lodha brand. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune market. The company has recently forayed into Bengaluru. In a statement, Macrotech Developers said it has achieved a pre-sales of Rs 2,814 crore during the first quarter of 2022-23 fiscal, showing a robust increase of 194 per cent from the year-ago period. The sales in April-June 2021 were impacted due to the second wave of the Covid pandemic. The collections from customers in India rose 53 per cent annually to 2,616 crore. Net debt reduced by Rs 450 crore to Rs 8,858 crore. Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers, said: "Q1FY23 was our best ever 1st quarter with Rs 2,814 crore of pre-sales from our .

Macrotech Developers enters B'luru; eyes Rs 1,200 cr sales from 1st project

Realty major Macrotech Developers Ltd announced its entry in the Bengaluru market and has formed a joint venture to develop its first housing project with an estimated sales bookings of Rs 1,200 cr

Macrotech, Brigade Ent: Bet on these stks to benefit from real estate boom

Among other real-estate stocks, Indiabulls Real Estate remains in the bear trap, while Sobha and Godrej Properties were seen struggling to make a come back.

Macrotech Developers to provide warehousing space to Skechers near Mumbai

Realty firm Macrotech Developers Ltd on Wednesday said it will provide 1.1 million square feet of warehousing space to Skechers, a global athletic footwear and apparel brand, at Palava near Mumbai. Macrotech Developers markets its real estate properties under the Lodha brand. In a statement, the company said it has "closed a built-to-suit transaction with Skechers to develop 1.1 million square feet at National Distribution Centre (NDC) at Lodha Industrial and Logistics Park, Palava". The development will be undertaken by Palava Induslogic 2, where Macrotech Developers and an affiliate of Morgan Stanley Real Estate Investing (MSREI) have partnered for developing a warehouse park spread across a 72-acre land parcel. The new Skechers distribution centre will be undertaken in two phases, with the first phase being delivered in mid-2023. The logistics centre will be the second-largest NDC for Skechers in Asia and is also expected to be one of the tallest warehouse structures in ...

Macrotech to invest Rs 3.8k cr in FY23 on realty projects' construction: MD

Asked about deliveries of projects, he said the company delivered 6,000 housing units last fiscal year and the target is 10,000 units for 2022-23

Macrotech in talks with investors for industrial park funding platform

Macrotech Developers, one of the leading real estate developers in the country, got listed last year by raising Rs 2,500 crore through its Initial Public Offer (IPO).

Macrotech aims 27% growth in sales bookings to Rs 11,500 cr this fiscal

The company, which got listed last year by raising Rs 2,500 crore through its Initial Public Offer (IPO), markets its product under the Lodha brand