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.
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain