Macrotech Developers Reports Staggering 2.7-Fold Jump in Q1 Profit
Macrotech Developers, a leading Indian real estate firm, has reported a massive 2.7-fold increase in its Q1 net profit, driven by higher income and strong pre-sales.
Macrotech DevelopersQ1 ResultsReal EstateFinancial PerformanceMumbaiPuneReal Estate PuneJul 30, 2024
The company's stellar performance is also driven by strong pre-sales, with a remarkable Rs 4,030 crore of pre-sales recorded during the quarter, marking the second consecutive quarter of over Rs 4,000 crore pre-sales. According to Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, 'Q1, FY'25 was our best ever 1st quarter with Rs 4,030 crore of pre-sales – our 2nd consecutive quarter of over Rs 4,000 crore pre-sales. The icing on the cake is that these strong pre-sales have come alongside robust embedded EBITDA margins of 33 per cent.'
Lodha highlighted that the company's pre-sales in Pune stood at more than Rs 1,000 crore in Q1, more than 50 per cent of its pre-sales in Pune in the previous year, setting the stage for becoming the largest player in the city in the next few years. The company has also achieved more than 50 per cent of its business development guidance in the first quarter itself.
During the quarter, Macrotech Developers added three more projects at marquee locations in the MMR and Pune with Rs 11,100 crore of GDV (gross development value). The company's strong balance sheet and attractiveness of its brand to landowners have enabled it to add new projects worth over Rs 65,000 crore since its IPO, following a 'super market' strategy in each micro-market.
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 net profit stood at Rs 1,549.1 crore over a total income of Rs 10,469.5 crore during the entire 2023-24 fiscal.
Information Macrotech Developers is a leading Indian real estate firm with a strong presence in Mumbai and Pune. The company has a proven track record of developing high-quality residential and commercial projects.
Macrotech Developers Ltd is a leading Indian real estate developer with a focus on creating high-quality residential and commercial projects. Founded in [Year], the company has established itself as a trusted brand in the Indian real estate sector.
Frequently Asked Questions
What was Macrotech Developers' Q1 net profit?
Rs 475.3 crore
What drove Macrotech Developers' Q1 profit growth?
Higher income and strong pre-sales
What was Macrotech Developers' pre-sales in Q1?
Rs 4,030 crore
What is Macrotech Developers' strategy for growth?
A 'super market' strategy in each micro-market, focusing on high-quality residential and commercial projects
What is Macrotech Developers' current development portfolio?
More than 110 million square feet under its ongoing and planned portfolio
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