Macrotech Developers Expands its Footprint in Mumbai and Pune with Land Acquisitions
Macrotech Developers, the company behind the Lodha brand, has acquired three land parcels in Mumbai and Pune to develop new projects, aiming for Rs 11,000 crore in revenue.
Real EstateMacrotech DevelopersLodha BrandMumbaiPuneHousing DemandReal Estate PuneJul 14, 2024
The acquired land parcels are located in the Mumbai Metropolitan Region (MMR) and Pune, and will be developed into new projects. Macrotech Developers has a strong presence in these regions, and this acquisition is expected to further strengthen its position.
In its latest operational update, the company reported a 20 per cent growth in sales bookings to Rs 4,030 crore in the first quarter of this fiscal year, compared to Rs 3,350 crore in the year-ago period. The company has also registered a 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore in the 2023-24 financial year, compared to Rs 12,060 crore in the previous year.
To expand its business, Macrotech Developers has given a guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore. The company has also planned to launch 17 housing projects this fiscal with a revenue potential of Rs 12,000 crore.
Macrotech Developers has a strong track record of delivering quality projects, having delivered around 100 million square feet of real estate and currently developing more than 110 million square feet under its ongoing and planned portfolio. The company's total income rose to Rs 10,469.5 crore in 2023-24, with a net profit of Rs 1,549.1 crore.
Information
Macrotech Developers is a leading real estate developer in India, with a presence in Mumbai, Pune, and Bengaluru. The company is known for its high-quality projects and has a strong reputation in the industry.
Macrotech Developers is a subsidiary of the Lodha Group, one of India's largest real estate developers. The company has a strong commitment to delivering quality projects and has a presence in several cities across India.
Frequently Asked Questions
What is Macrotech Developers' revenue guidance for the current fiscal year?
Rs 17,500 crore
How many housing projects will Macrotech Developers launch this fiscal?
17 projects
What is the total area to be launched by Macrotech Developers this fiscal?
10.1 million square feet
How much is the gross development value (GDV) of the projects to be launched by Macrotech Developers this fiscal?
Rs 12,100 crore
What is Macrotech Developers' total income for the 2023-24 financial year?
Rs 10,469.5 crore
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