+
Macrotech Developers Q1 FY25 Profit Soars 2.7 Times to Rs.4.75 Bn
Real Estate

Macrotech Developers Q1 FY25 Profit Soars 2.7 Times to Rs.4.75 Bn

Macrotech Developers, a leading real estate company, has reported a substantial increase in its net profit for the first quarter of the fiscal year 2024-25. The company's profit surged by 2.7 times to Rs.4.75 billion, compared to Rs.175 crore in the corresponding quarter of the previous year. This impressive growth is attributed to robust sales and improved operational efficiency.

The company's revenue also saw a significant rise, increasing by 33% to ?3,150 crore from Rs.2,365 crore in the same period last year. Macrotech Developers, known for its Lodha brand, credited the strong performance to the growing demand for residential properties and the successful launch of new projects.

Abhishek Lodha, Managing Director and CEO of Macrotech Developers, expressed optimism about the company's growth trajectory. He highlighted the favorable market conditions and the company's strategic initiatives that have driven sales and profitability. Lodha emphasized the company's commitment to delivering high-quality homes and enhancing customer satisfaction.

The company's sales bookings increased to Rs.3,450 crore in Q1 FY25, up from Rs.2,900 crore in Q1 FY24, indicating strong market demand. Additionally, the company launched projects worth Rs.4,000 crore in the first quarter, further bolstering its market position.

Macrotech Developers also reported a reduction in its net debt, which stood at Rs.15,000 crore at the end of June 2024, down from Rs.16,000 crore in March 2024. The company aims to continue its deleveraging efforts to strengthen its balance sheet.

Looking ahead, Macrotech Developers plans to launch more projects and expand its footprint in key markets. The company is confident that its focus on operational excellence, customer-centric approach, and strategic project launches will continue to drive growth and profitability in the coming quarters.

The robust performance in Q1 FY25 reflects Macrotech Developers' strong market position and its ability to capitalise on the growing demand for residential properties in India.

Macrotech Developers, a leading real estate company, has reported a substantial increase in its net profit for the first quarter of the fiscal year 2024-25. The company's profit surged by 2.7 times to Rs.4.75 billion, compared to Rs.175 crore in the corresponding quarter of the previous year. This impressive growth is attributed to robust sales and improved operational efficiency. The company's revenue also saw a significant rise, increasing by 33% to ?3,150 crore from Rs.2,365 crore in the same period last year. Macrotech Developers, known for its Lodha brand, credited the strong performance to the growing demand for residential properties and the successful launch of new projects. Abhishek Lodha, Managing Director and CEO of Macrotech Developers, expressed optimism about the company's growth trajectory. He highlighted the favorable market conditions and the company's strategic initiatives that have driven sales and profitability. Lodha emphasized the company's commitment to delivering high-quality homes and enhancing customer satisfaction. The company's sales bookings increased to Rs.3,450 crore in Q1 FY25, up from Rs.2,900 crore in Q1 FY24, indicating strong market demand. Additionally, the company launched projects worth Rs.4,000 crore in the first quarter, further bolstering its market position. Macrotech Developers also reported a reduction in its net debt, which stood at Rs.15,000 crore at the end of June 2024, down from Rs.16,000 crore in March 2024. The company aims to continue its deleveraging efforts to strengthen its balance sheet. Looking ahead, Macrotech Developers plans to launch more projects and expand its footprint in key markets. The company is confident that its focus on operational excellence, customer-centric approach, and strategic project launches will continue to drive growth and profitability in the coming quarters. The robust performance in Q1 FY25 reflects Macrotech Developers' strong market position and its ability to capitalise on the growing demand for residential properties in India.

Next Story
Infrastructure Transport

Railways Opens First Section of Bullet Train Tunnel in Maharashtra

The Mumbai–Ahmedabad bullet train project has achieved a key milestone with the opening of the first section of a 21-km undersea tunnel between Ghansoli and Shilphata in Maharashtra. The high-speed rail corridor, powered entirely by Japanese Shinkansen technology, has seen 310 km of viaducts completed, alongside rapid progress in track laying, electrical works, and station construction. Five of the 12 stations are complete, with three more nearing completion. The BKC station, located 32.5 metres underground, is designed to support a 95-metre structure above. The next-generation E10 Shin..

Next Story
Infrastructure Urban

Mahindra, Osaka Ink Pact to Boost Japanese Investment

Mahindra Industrial Park Chennai (MIPCL), along with its Japanese stakeholder Sumitomo Corporation, has signed a strategic cooperation agreement with the Osaka Prefecture and Osaka Industrial Development Bureau to support Osaka-based businesses entering India.The partnership aims to streamline entry for Japanese manufacturers, providing support such as business visits, regulatory guidance, and market insights. MIPCL and Sumitomo will act as local facilitators, while Osaka authorities will identify and recommend companies for expansion.With India’s projected GDP growth of 6.3 per cent in FY25..

Next Story
Building Material

Govt Plans Mandatory Public Procurement of Green Steel

The Ministry of Steel is working on modalities to mandate public procurement of green steel, as part of its efforts to decarbonise the industry. A Rs 150 billion Green Steel Mission is being formulated to support emission reduction and move towards net-zero targets.The mission will include a PLI scheme, incentives for renewable energy use, and mandates for government agencies to buy green steel. Green steel is produced with significantly lower carbon emissions compared to conventional methods.Speaking at the India Steel Conclave 2025, a senior official said procurement mandates are under consi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?