Macrotech Developers, a Mumbai-based listed real estate company, has acquired 10 land parcels in FY25, planning to develop housing projects with an estimated total sales value of approximately Rs 240 billion across Mumbai Metropolitan Region (MMR), Bengaluru, and Pune.

In its operational update, the company reported that it added 10 new projects during the year, excluding Digital Infrastructure projects, with a Gross Development Value (GDV) of Rs 237 billion. This exceeded its earlier guidance of Rs 210 billion for the fiscal year. The addition includes two new projects in Pune, contributing Rs 43 billion to the GDV. This brings the company's total presence in Pune to nine locations, positioning it for further market share growth and reinforcing its ambition to become the leading developer in the city.

On the Digital Infrastructure front, Macrotech Developers expanded into new locations with two projects in NCR and Chennai. Additionally, the company acquired its joint venture partner’s stake in the existing platform, enhancing its position in warehousing and industrial developments.

For the fourth quarter of FY25, the company reported a 14 per cent year-on-year increase in sales bookings, reaching Rs 48.10 billion, up from Rs 42.30 billion in the same period last year. Overall, Macrotech Developers achieved a 21 per cent growth in sales bookings for FY25, totalling a record Rs 176.30 billion, compared to Rs 145.20 billion in the previous fiscal year.

Besides residential development, the company is also expanding its industrial and logistics park portfolio in major cities, alongside office and retail real estate projects. Macrotech Developers is currently involved in a legal dispute with the House of Abhinandan Lodha, a company formed by Abhishek Lodha's younger brother, over the use of the 'Lodha' brand name.

News source: Hindustan Times

Image Source: www.msn.com