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

15 Jul 2024 CW Team

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)

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