Macrotech Developers Net Debt Climbs 14% to Rs 4,920 Crore in Q2 FY24
Realty firm Macrotech Developers Ltd has reported a 14% rise in net debt to Rs 4,920 crore in the second quarter of the fiscal year 2024, driven by increased investments in land acquisition and construction. The company, known for its Lodha brand, has a s
Macrotech DevelopersReal EstateNet DebtProperty MarketConstructionReal Estate PuneOct 13, 2024
According to the company's latest operational update, Macrotech Developers' net debt was Rs 4,320 crore as of June 30, 2024, and Rs 3,010 crore at the end of the 2023-24 fiscal year. Despite the increase, the company maintains that its net debt is well below its ceiling of 0.5 times net debt/equity, currently standing at Rs 49.2 billion.
Earlier this month, Macrotech Developers reported a 21% increase in sales bookings to a record Rs 4,290 crore during the July-September period, driven by improved housing demand. The company had sold properties worth Rs 3,530 crore during the same period last year.
Frequently Asked Questions
What is the current net debt of Macrotech Developers?
The current net debt of Macrotech Developers is Rs 4,920 crore as of September 30, 2024.
By what percentage did Macrotech Developers' net debt rise in Q2 FY24?
Macrotech Developers' net debt rose by 14% in the second quarter of the fiscal year 2024.
What is the target for sale bookings for the current fiscal year 2024-25?
Macrotech Developers aims to achieve 21% annual growth in sale bookings during the current 2024-25 fiscal year, targeting Rs 17,500 crore.
What markets does Macrotech Developers have a significant presence in?
Macrotech Developers has a significant presence in the Mumbai Metropolitan Region (MMR) and Pune, and has recently entered the Bengaluru property market.
How much real estate has Macrotech Developers delivered so far?
Macrotech Developers has delivered around 100 million sq ft of real estate and is currently developing more than 110 million sq ft under its ongoing and planned portfolio.
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