+
Lodha records best-ever Q3 pre-sales
Real Estate

Lodha records best-ever Q3 pre-sales

Realty developer Lodha, listed as Macrotech Developers, has recorded its best-ever third quarter pre-sales at Rs 3,410 crore and collections of Rs 2,594 crore for the quarter ended December.

The developer has added three more new projects during the quarter with gross development value potential of Rs 6,000 crore taking the project addition in the first three quarters of 2023-24 to Rs 20,300 crore.

With this, the company has surpassed its guidance of Rs 17,500 crore project addition for the year with a quarter to spare.

?It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer?s desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen. On the back of steady rise in income levels and ample job creation this desire is translating into robust demand for high quality homes,? said Abhishek Lodha, MD & CEO, Lodha.

According to him, this fundamental driver of demand has enabled the company to deliver its best-ever third quarter pre-sales performance at Rs 3,410 crores. This was despite the adverse seasonality of the inauspicious period of ?Shraddhh? in October this financial year as against September in 2022-23.

Realty developer Lodha, listed as Macrotech Developers, has recorded its best-ever third quarter pre-sales at Rs 3,410 crore and collections of Rs 2,594 crore for the quarter ended December. The developer has added three more new projects during the quarter with gross development value potential of Rs 6,000 crore taking the project addition in the first three quarters of 2023-24 to Rs 20,300 crore. With this, the company has surpassed its guidance of Rs 17,500 crore project addition for the year with a quarter to spare. ?It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer?s desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen. On the back of steady rise in income levels and ample job creation this desire is translating into robust demand for high quality homes,? said Abhishek Lodha, MD & CEO, Lodha. According to him, this fundamental driver of demand has enabled the company to deliver its best-ever third quarter pre-sales performance at Rs 3,410 crores. This was despite the adverse seasonality of the inauspicious period of ?Shraddhh? in October this financial year as against September in 2022-23.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Next Story
Infrastructure Energy

SC Allows State Tax on Mines, Minerals

Opposition leaders have welcomed the Supreme Court's recent decision permitting states to levy taxes on mines and mineral-bearing lands, as reported. The ruling is seen as a significant victory for state governments seeking greater control and revenue from natural resource extraction within their jurisdictions. The Supreme Court?s decision empowers states to impose taxes on mining operations and mineral-rich lands, which could enhance their revenue streams and enable better management of local resources. This move is particularly important for states with substantial mineral resources, as it a..

Talk to us?