Macrotech Developers Expands Portfolio with Strategic Land Acquisitions in Mumbai and Pune
Macrotech Developers, the renowned Lodha brand, has acquired three land parcels in Mumbai and Pune during the April-June quarter, marking a significant expansion of its portfolio.
Macrotech DevelopersLodhaReal EstateMumbaiPuneHousing DemandLand AcquisitionReal Estate MumbaiJul 14, 2024
With a bullish outlook on housing demand, Macrotech Developers has been aggressively expanding its portfolio in key markets. The company has added three projects in the Mumbai Metropolitan Region (MMR) and Pune, with a gross development value (GDV) of Rs 11,100 crore, which is over 50 per cent of its full-year guidance of Rs 21,000 crore.
In its latest operational update, Macrotech Developers 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 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 2022-23 financial year.
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 seen a 12 per cent increase in collections from customers, rising to Rs 2,690 crore in the first quarter of this fiscal from Rs 2,400 crore in the corresponding period of the previous year.
As part of its expansion plans, Macrotech Developers intends to launch 17 housing projects this fiscal with a revenue potential of Rs 12,000 crore. The company will launch 10 new projects and seven new phases in existing residential projects during 2024-25 across the three cities where it has a presence - Mumbai, Pune, and Bengaluru.
Information
Macrotech Developers is a leading real estate company in India, known for its premium properties under the Lodha brand. The company 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.
Macrotech Developers is a Mumbai-based real estate company that markets its properties under the Lodha brand. The company has a strong presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, and is known for its premium properties and commitment to quality and customer satisfaction.
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 many housing projects does Macrotech Developers plan to launch this fiscal?
Macrotech Developers plans to launch 17 housing projects this fiscal with a revenue potential of Rs 12,000 crore.
What is the growth rate of Macrotech Developers' sales bookings in the first quarter of this fiscal year?
Macrotech Developers' sales bookings grew by 20 per cent to Rs 4,030 crore in the first quarter of this fiscal year.
How much is Macrotech Developers' total income in the 2023-24 financial year?
Macrotech Developers' total income rose to Rs 10,469.5 crore in the 2023-24 financial year.
What is the net profit of Macrotech Developers in the 2023-24 financial year?
Macrotech Developers registered a three-fold jump in net profit to Rs 1,549.1 crore in the 2023-24 financial year.
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