Macrotech Developers Expands Land Bank in Mumbai and Pune with 3 New Acquisitions
Macrotech Developers, the realty firm behind the Lodha brand, has acquired three land parcels in Mumbai and Pune with a revenue potential of over Rs 11,000 crore.
Macrotech DevelopersLodha BrandReal EstateHousing DemandLand AcquisitionMumbaiPuneReal Estate NewsJul 14, 2024
Macrotech Developers, which markets its properties under the Lodha brand, has been actively acquiring land parcels to build a robust launch pipeline. The company has added many new land parcels to its portfolio in 2023-24, with a potential sales value of over Rs 20,000 crore. This is in response to the strong housing demand in the market, which has driven the company's sales bookings to record levels. \n\nIn the first quarter of 2023, Macrotech Developers clocked a 20% growth in sales bookings to Rs 4,030 crore, compared to Rs 3,350 crore in the same period last year. The company has also registered a 20% growth in sale bookings for the entire 2023-24 financial year, with a value of Rs 14,520 crore.
To further boost its sales bookings, Macrotech Developers plans to launch 17 new housing projects in 2024-25, with a revenue potential of Rs 12,000 crore. The company will launch 10 new projects and seven new phases in existing residential projects across Mumbai, Pune, and Bengaluru. The total area to be launched is estimated at 10.1 million square feet, with an estimated gross development value (GDV) of Rs 12,100 crore.
Macrotech Developers has delivered around 100 million square feet of real estate and is 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, a three-fold jump from the previous year.
Frequently Asked Questions
What is the revenue potential of the three land parcels acquired by Macrotech Developers?
The revenue potential of the three land parcels acquired by Macrotech Developers is over Rs 11,000 crore.
How did Macrotech Developers acquire the land parcels?
Macrotech Developers acquired the land parcels through a combination of outright purchases and partnerships with landowners.
What is the growth rate of sales bookings for Macrotech Developers in the first quarter of 2023?
The growth rate of sales bookings for Macrotech Developers in the first quarter of 2023 is 20%.
How many new housing projects does Macrotech Developers plan to launch in 2024-25?
Macrotech Developers plans to launch 17 new housing projects in 2024-25, with a revenue potential of Rs 12,000 crore.
What is the total area to be launched by Macrotech Developers in 2024-25?
The total area to be launched by Macrotech Developers in 2024-25 is estimated at 10.1 million square feet, with an estimated gross development value (GDV) of Rs 12,100 crore.
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