Macrotech Developers expects to meet 50% growth target sales in FY22

02 Aug 2021 CW Team

Macrotech Developers based in Mumbai market their properties under the 'Lodha' brand; they got listed on the stock exchanges after raising Rs 2500 crore through its initial public offering (IPO) in April this year. It is one of the leading real estate firms in the country.

Abhishek Lodha, Macrotech Developers MD and CEO, told the media that their housing sales were severely impacted during April-May because of the second wave, but, in June, they achieved sales bookings of about Rs 650 crore and also the demand in July is good. The company's sales bookings are standing at Rs 5,970 crore the previous fiscal year.

He further said that the sales bookings in April-May were very low, but they have already factored that in our sales guidance. He said that they are on track to achieve a Rs 9,000 crore figure, given there is no further disruption.

Macrotech Developers got a total sales booking of Rs 957 crore in the April-June quarter, of which Rs 654 crore came in June.

Recently, Macrotech has sold 22.3 acres land parcel to a Japanese firm in its Pallava Industrial and Logistics Park for an estimated deal value of around Rs 80 crore in the warehousing development business. Lodha told the media that the company's net debt decreased by 23% to Rs 12,435 crore during the first quarter of this fiscal year.

Macrotech Developers recorded a combined net profit of Rs 160.91 crore for the quarter ended June on Friday. In the year-ago period, they posted a net loss of Rs 134.44 crore. The overall income went from Rs 572.53 crore in the corresponding period of the previous year to Rs 1,712.36 crore in the first quarter of this fiscal year.

Image Source

Also read: Macrotech Developers reports 88% on-year growth in bookings in Q1

Macrotech Developers, the Realty firm, aims to achieve its target of 50% growth in sales bookings to Rs 9,000 crore this fiscal despite the slow housing demand in April-May given the second wave of the Covid-19 pandemic. Macrotech Developers based in Mumbai market their properties under the 'Lodha' brand; they got listed on the stock exchanges after raising Rs 2500 crore through its initial public offering (IPO) in April this year. It is one of the leading real estate firms in the country. Abhishek Lodha, Macrotech Developers MD and CEO, told the media that their housing sales were severely impacted during April-May because of the second wave, but, in June, they achieved sales bookings of about Rs 650 crore and also the demand in July is good. The company's sales bookings are standing at Rs 5,970 crore the previous fiscal year. He further said that the sales bookings in April-May were very low, but they have already factored that in our sales guidance. He said that they are on track to achieve a Rs 9,000 crore figure, given there is no further disruption. Macrotech Developers got a total sales booking of Rs 957 crore in the April-June quarter, of which Rs 654 crore came in June. Recently, Macrotech has sold 22.3 acres land parcel to a Japanese firm in its Pallava Industrial and Logistics Park for an estimated deal value of around Rs 80 crore in the warehousing development business. Lodha told the media that the company's net debt decreased by 23% to Rs 12,435 crore during the first quarter of this fiscal year. Macrotech Developers recorded a combined net profit of Rs 160.91 crore for the quarter ended June on Friday. In the year-ago period, they posted a net loss of Rs 134.44 crore. The overall income went from Rs 572.53 crore in the corresponding period of the previous year to Rs 1,712.36 crore in the first quarter of this fiscal year. Image Source Also read: Macrotech Developers reports 88% on-year growth in bookings in Q1

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..