+
Macrotech Developers report 20% sales growth to Rs 40.3 bn in Q1 FY25
Real Estate

Macrotech Developers report 20% sales growth to Rs 40.3 bn in Q1 FY25

Macrotech Developers has reported a 20% growth in sales bookings to Rs 40.3 billion for the first quarter of FY25, driven by robust housing demand. The company's sales bookings stood at Rs 33.5 billion during the same period last year.

According to its latest operational update posted on stock exchanges, collections from customers increased by 12% to Rs 26.9 billion in April-June FY25, up from Rs 24 billion in the corresponding period of the previous year.

For the fiscal year 2023-24, Macrotech Developers achieved a record 20% growth in sale bookings (pre-sales), reaching Rs 145.2 billion, compared to Rs 120.6 billion the previous year. The company has set a target of achieving a 21% annual growth in sale bookings this fiscal year, aiming for Rs 175 billion.

Macrotech Developers, which operates under the Lodha brand and has a significant presence in the Mumbai Metropolitan Region (MMR) and Pune, recently expanded into Bengaluru. The company plans to launch 17 housing projects this fiscal year, with a revenue potential of Rs 120 billion, to boost sale bookings.

Specifically, the company will launch 10 new projects and seven new phases in existing residential projects across the three cities during 2024-25. The total area to be launched is estimated at 10.1 million square feet, with an estimated gross development value (GDV) of Rs 121 billion.

Macrotech Developers has delivered around 100 million square feet of real estate and is developing over 110 million square feet within its on-going and planned portfolio. (Source: ET)

Macrotech Developers has reported a 20% growth in sales bookings to Rs 40.3 billion for the first quarter of FY25, driven by robust housing demand. The company's sales bookings stood at Rs 33.5 billion during the same period last year. According to its latest operational update posted on stock exchanges, collections from customers increased by 12% to Rs 26.9 billion in April-June FY25, up from Rs 24 billion in the corresponding period of the previous year. For the fiscal year 2023-24, Macrotech Developers achieved a record 20% growth in sale bookings (pre-sales), reaching Rs 145.2 billion, compared to Rs 120.6 billion the previous year. The company has set a target of achieving a 21% annual growth in sale bookings this fiscal year, aiming for Rs 175 billion. Macrotech Developers, which operates under the Lodha brand and has a significant presence in the Mumbai Metropolitan Region (MMR) and Pune, recently expanded into Bengaluru. The company plans to launch 17 housing projects this fiscal year, with a revenue potential of Rs 120 billion, to boost sale bookings. Specifically, the company will launch 10 new projects and seven new phases in existing residential projects across the three cities during 2024-25. The total area to be launched is estimated at 10.1 million square feet, with an estimated gross development value (GDV) of Rs 121 billion. Macrotech Developers has delivered around 100 million square feet of real estate and is developing over 110 million square feet within its on-going and planned portfolio. (Source: ET)

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?