Macrotech Developers

Mumbai Trump Tower residents sue builder over unfulfilled private jet time

The 75-storey ultra-luxurious Trump Tower homeowners have alleged that the developers failed to provide 10 hours of free private jet flying time as outlined in their sale agreements

Brokerages bullish on Macrotech Developers; Q2 update boosts stock by 4%

Macrotech Developers achieved its best ever quarterly pre-sales of Rs 42.9 billion, marking a growth of 21% on Y-o-Y despite the inauspicious 'Shradhh' period falling in Sept this FY (vs Oct in FY24).

Godrej, Macrotech sell properties worth over Rs 22,000 crore in Apr-Sep

India's two big realty firms Godrej Properties and Macrotech Developers have sold properties worth over Rs 22,000 crore during April-September, up 56 per cent annually, on strong demand for premium homes. Godrej Properties sells its real estate projects under the Godrej brand, while Macrotech Developers markets its properties under the 'Lodha' brand. During the first six months of the current fiscal year, Godrej Properties sold properties worth over Rs 13,800 crore, and Macrotech Developers' sales bookings stood at Rs 8,320 crore. The bulk of these sales were of housing units. The combined sales bookings of both Mumbai-based realty firms stood at Rs 22,120 crore during April-September 2024 against Rs 14,178 crore sales registered by the two companies in the year-ago period. According to the latest operational update, Godrej Properties' sales booking value grew 89 per cent year-on-year to over Rs 13,800 crore during April-September this year compared to Rs 7,288 crore in the year-ag

Macrotech Developers posts highest-ever quarterly pre-sales of Rs 4,290 cr

The company expressed its interest in exploring opportunities to scale its digital infrastructure portfolio

Macrotech Developers raises stake in 3 warehousing firms for Rs 239.56 cr

Macrotech Developers has increased its stake in three warehousing companies by buying out shares of Ivanhoe Warehousing India Inc. in these firms for Rs 239.56 crore. The share acquisition in the three firms would help Macrotech Developers in increasing its rental income. In a regulatory filing, the company said it has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc in this regard. It has increased its stake in "Digital Infrastructure Platform entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), in entirety at a consideration of Rs 239.56 crore, the filing added. The company's interest post the above acquisition in Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd would increase to 70 per cent, 66.67 per cent and 66.67 per cent, respectively, it added. Macrotech ...

Buy Macrotech & Sunteck; Hold Oberoi Realty & Godrej Prop, suggests Nuvama

The analysts believe that factors like healthy leverage, an increased focus on business development, and the potential for interest rate cuts will boost sales in the city.

Macrotech acquires Opexefi Services, One Box Warehouse for nearly Rs 100 cr

Realty firm Macrotech Developers Ltd has acquired a 100 per cent stake in Opexefi Services and One Box Warehouse for nearly Rs 100 crore as part of its strategy to grow the development business of industrial & warehousing parks. Macrotech Developers Ltd, which sells properties under the Lodha brand, has executed Share Purchase Agreements (SPAs) for the acquisition of a 100 per cent stake in Opexefi Services Pvt Ltd (Opexefi) and One Box Warehouse Pvt Ltd (One Box), according to a regulatory filing on Wednesday. Opexefi and One Box will become wholly owned subsidiaries of the company, it added. "This is in pursuance of our planned strategy for calibrated growth in Digital Infrastructure viz. Industrial and Logistics," the company said. Macrotech Developers acquired Opexefi for Rs 46.67 crore. Opexefi, incorporated on December 6, 2018, is in the business of the development of logistics parks and warehouses. The total turnover for the last 3 years is zero as there are no business ...

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 .