Macrotech Developers Posts Best-Ever Q1 with ₹475.3 Crore Net Profit
The real estate firm achieved its highest-ever quarterly net profit, driven by strong pre-sales and robust embedded EBITDA margins.
Macrotech DevelopersReal EstateQ1 ResultsNet ProfitPre SalesEbitda MarginsReal Estate NewsAug 04, 2024
The company's total income grew substantially to ₹2,918.3 crore during the April-June period of the current fiscal year, up from ₹1,671.8 crore in the corresponding period of the previous year.
Abhishek Lodha, the Managing Director and CEO of Macrotech Developers, expressed delight at the company's performance, stating that the first quarter of fiscal year 2024-25 was their best ever, with pre-sales reaching a remarkable ₹4,030 crore - the second consecutive quarter exceeding ₹4,000 crore in pre-sales. Lodha highlighted that these strong pre-sales were achieved alongside robust embedded EBITDA margins of 33%.
Lodha emphasized that the delivery of strong pre-sales from a diverse portfolio of projects with high margins showcases the predictability and consistency of the company's business model. He noted that the company's pre-sales in Pune stood at more than ₹1,000 crore in the first quarter, accounting for over 50% of its pre-sales in Pune in the previous year, positioning Macrotech Developers to become the largest player in the city in the near future.
Lodha acknowledged that the strong 20% year-on-year growth in pre-sales was achieved despite the challenges posed by inclement weather conditions and the election season, which had an impact on footfalls.
The company has achieved more than 50% of its business development guidance in the first quarter itself, having added three new projects at prominent locations in the Mumbai Metropolitan Region (MMR) and Pune, with a total Gross Development Value (GDV) of ₹11,100 crore. Leveraging the attractiveness of its brand to landowners and its strong balance sheet, Macrotech Developers has been able to add new projects worth over ₹65,000 crore since its IPO, following a \
Frequently Asked Questions
What is Macrotech Developers' net profit for the June 2024 quarter?
₹475.3 crore
What is the company's total income for the April-June period of the current fiscal year?
₹2,918.3 crore
What is the company's pre-sales figure for the first quarter?
₹4,030 crore
What is the company's embedded EBITDA margin for the first quarter?
33%
How many new projects has the company added in the first quarter?
Three new projects at prominent locations in the Mumbai Metropolitan Region (MMR) and Pune
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