Macrotech Developers Q2 FY22 sales: Bookings jump to Rs 2,003 cr

On Wednesday, real estate company, Macrotech Developers, which sells properties under the Lodha brand, recorded an 88% increase in its sales bookings to Rs 2,003 crore for the September 2021 quarter. In London business, Macrotech Developers attained a sales booking of Rs 1,450 crore in the September quarter. Mumbai-based Macrotech Developers, named Lodha Developers, is one of the biggest real estate companies in the nation. MD and CEO of Macrotech Developers, Abhishek Lodha, told the media that led by the power of their brand and flexible industry trends, they have recorded strong pre-sales growth of 8% during the quarter on a YoY(year-on-year) basis, and more than twice their pre-sales on a QoQ (quarter-on-quarter) basis. He remained confident of obtaining pre-sales guidance of about Rs 9,000 crore in the current financial year and lessening net debt to about Rs 10,000 crore by March-end. Lodha said that the firm observed strong demand across its portfolio, both in ready and under-construction projects. With the forthcoming festive season, they are sure that we would observe a huge rise in sales as consumers are so interested in moving into a bigger and better house. He mentioned that customers are catching onto the trend of purchasing a house instead of renting. Image SourceAlso read: Macrotech Developers sells properties worth Rs 1,100 cr in September Also read: Macrotech Developers expects to meet 50% growth target sales in FY22