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Macrotech Developers Ltd News

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 acquires 3 land parcels during April-June quarter in Mumbai, Pune
Updated On : 14 Jul 2024 | 1:58 PM IST

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 Developers Q1 sales up 20% at Rs 4K cr on strong housing demand
Updated On : 13 Jul 2024 | 12:43 PM IST

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

Macrotech and Oberoi Realty elevate Mumbai skyline with highrise sales
Updated On : 16 Jun 2024 | 9:55 PM IST

Realty shares rally up to 8%; Sobha, Lodha, Godrej, Prestige hit new highs

Sobha share price hit a new high of Rs 2,220 as it rallied 8 per cent after the company's board approved the offer and issuance of equity shares for Rs 2,000 crore through a rights issue

Realty shares rally up to 8%; Sobha, Lodha, Godrej, Prestige hit new highs
Updated On : 13 Jun 2024 | 11:04 AM IST

Rate sensitive shares trade firm as RBI keeps repo rate unchanged at 6.5%

At 10:40 am; Nifty Bank, Nifty Financial Services, Nifty Private Bank, Nifty PSU Bank, Nifty Auto and Nifty Realty index were up in the range of 0.60% to 1.07%.

Rate sensitive shares trade firm as RBI keeps repo rate unchanged at 6.5%
Updated On : 07 Jun 2024 | 11:23 AM IST

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

Macrotech Developers to invest Rs 3,500-4,000 cr to acquire land parcels
Updated On : 14 May 2024 | 4:48 PM IST

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 .

Not in 'rat race' to be top builder in terms of sale bookings: Macrotech MD
Updated On : 12 May 2024 | 3:04 PM IST

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

Macrotech Developers to launch 17 housing projects worth Rs 12K crore
Updated On : 07 May 2024 | 11:32 AM IST

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.

BSE Realty index down 1.5% in a firm market; Godrej Properties weighs
Updated On : 02 May 2024 | 11:58 AM IST

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 to invest Rs 5,000 cr on construction of realty projects: MD
Updated On : 28 Apr 2024 | 1:47 PM IST

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

Macrotech Developers aims 21% growth in pre-sales to Rs 17,500 cr in FY25
Updated On : 26 Apr 2024 | 11:01 PM IST

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

Lodha Q4 results: Net profit slips 10% to Rs 667 crore, FY24 profit up 300%
Updated On : 24 Apr 2024 | 8:56 PM IST

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.

Macrotech Developers Q4: PAT down 11% to Rs 665 cr, FY24 profit up 300%
Updated On : 24 Apr 2024 | 7:12 PM IST

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 Developers trim debt by 55% to Rs 3,010 cr in March quarter
Updated On : 07 Apr 2024 | 12:56 PM IST

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 ...

Macrotech Q4 sales bookings up 40% at Rs 4,230 cr on strong housing demand
Updated On : 05 Apr 2024 | 10:30 AM IST

Nifty Realty hits fresh 16-yr high; surges 7% in 2 days on healthy outlook

Meanwhile, thus far in the calendar year 2024, the Nifty Realty index has surged 21 per cent, as compared to 2 per cent rise in the benchmark index.

Nifty Realty hits fresh 16-yr high; surges 7% in 2 days on healthy outlook
Updated On : 02 Apr 2024 | 1:57 PM IST

'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 aims to generate surplus cash in Q4, reduce debt'
Updated On : 30 Jan 2024 | 4:04 PM IST

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 to launch 11 projects with Rs 6K cr revenue potential
Updated On : 28 Jan 2024 | 5:14 PM IST

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 Q3FY24 results: Net profit up 25% at Rs 505 cr
Updated On : 27 Jan 2024 | 8:03 PM IST

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 Q3 results: Net profit rises 25% to Rs 505 crore
Updated On : 27 Jan 2024 | 7:00 PM IST