Lodha records best-ever Q3 pre-sales

08 Jan 2024 CW Team

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.

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