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

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..