Lodha Achieves Exceptional Q1 Performance with Record Pre-Sales of INR 40.3 Billion
India's No. 1 real estate developer, Lodha, announces its best ever Q1 pre-sales performance with robust margins, adding 3 new projects in MMR and Pune with a combined GDV of INR 111bn.
LodhaReal EstateIndiaMacrotech Developers LtdQ1 PerformancePre SalesMmrPuneGdvReal Estate PuneJul 30, 2024
Abhishek Lodha, MD & CEO, Macrotech Developers Ltd., attributed the success to the company's diversified portfolio of projects, which has enabled it to deliver strong pre-sales alongside robust embedded EBITDA margins of 33%. The company's performance in Pune has been particularly impressive, with pre-sales of INR 10 billion in Q1, more than 50% of its pre-sales in Pune in the previous year.
The company's strong growth of 20% YoY in pre-sales is even more remarkable given the challenging market conditions, including inclement hot weather and election season, which impacted footfalls. The company believes that India is in the early stages of a multi-decade housing up-cycle, driven by its transition from a low-income economy to a mid-income economy.
The recently announced union budget has also been encouraging for the sector, with a focus on skilling the workforce, job creation, and incentivizing the ecosystem for the same. The government's emphasis on housing, infrastructure development, and urban planning is expected to provide a further boost to the housing sector.
Lodha has added three new projects at marquee locations in the MMR and Pune, with a combined GDV of INR 111 billion. The company's strong balance sheet and attractiveness to landowners have enabled it to add new projects worth over INR 650 billion since its IPO, following a 'supermarket' strategy in each micro-market.
The company's net debt stands at INR 43.2 billion (0.24x Net Debt/Equity), well below its ceiling of 0.5x Net Debt/Equity. The company's consistent performance, robust business fundamentals, and strong balance sheet have enabled a credit rating upgrade to 'AA- (Positive)' by Crisil.
Beyond its financial performance, Lodha continues to work towards creating a positive impact on society and the environment, contributing to India's future. The company's flagship education initiative, the Lodha Genius Programme, has recently had its second cohort of bright young minds from across India being mentored by a diverse faculty members and experts.
Macrotech Developers Ltd. (Lodha) is India's largest real estate developer, with a presence in Mumbai, Pune, and London. The company has a strong track record of delivering quality projects and has established itself as a leader in the Indian real estate industry.
Frequently Asked Questions
What is Lodha's Q1 pre-sales performance?
Lodha reported its best ever Q1 pre-sales performance with INR 40.3 billion.
Where are Lodha's new projects located?
The company has added three new projects at marquee locations in the MMR and Pune, with a combined GDV of INR 111 billion.
What is Lodha's net debt position?
The company's net debt stands at INR 43.2 billion (0.24x Net Debt/Equity), well below its ceiling of 0.5x Net Debt/Equity.
What is Lodha's vision for the Indian real estate industry?
The company believes that India is in the early stages of a multi-decade housing up-cycle, driven by its transition from a low-income economy to a mid-income economy.
What is Lodha's flagship education initiative?
The company's flagship education initiative is the Lodha Genius Programme, which mentors bright young minds from across India.
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