Macrotech Buys 10 Land Parcels for Rs 240 Bn Housing Projects
Real Estate

Macrotech Buys 10 Land Parcels for Rs 240 Bn Housing Projects

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

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 TimesImage Source: www.msn.com

Next Story
Infrastructure Transport

Kurla Gets New Elevated Harbour Line Station

Mumbai’s suburban railway network has taken a major step forward with the construction of a new elevated Harbour Line station at Kurla, part of the 5th and 6th line corridor. Over the weekend, Central Railway conducted a 14.5-hour mega block to divert tracks between Kurla and Tilak Nagar, clearing the way for the project.The tracks were shifted westwards to accommodate the elevated station, which will handle both regular Harbour Line services and trains originating or terminating at Kurla. Kurla, a key interchange hub, links the Harbour Line from CSMT to Navi Mumbai and Panvel with the Centr..

Next Story
Infrastructure Urban

India Plans 500 km Rail Expansion Along Northeastern Frontier

India is set to strengthen its northeastern frontier with the construction of 500 kilometres of new rail lines, including bridges and tunnels, to improve connectivity, accelerate logistics, and ensure military readiness along borders with China, Bangladesh, Myanmar, and Bhutan. The project is expected to cost Rs 300 billion ($3.4 billion) and is targeted for completion within four years.Though relations with China have recently improved, the infrastructure push reflects India’s long-term contingency planning amid a history of cycles of rapprochement and tension. The new rail corridors will c..

Next Story
Real Estate

BlackRock Leases Bengaluru Office for Rs 410 Billion

BlackRock Services India Pvt Ltd, the Indian arm of global asset manager BlackRock Inc, has leased 1.43 lakh sq ft of office space in Bengaluru’s Ashok Nagar for Rs 410 billion over a 10-year period, according to property registration documents accessed by Propstack.The commercial space, located in KNG Tower 1 and leased from IndiQube Space Limited, covers the ground floor and five additional floors. The monthly rent is set at Rs 2.72 billion at Rs 190 per sq ft, with an annual escalation of 5 per cent. A security deposit of Rs 21.75 billion has been paid. The lease transaction was registere..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?