Macrotech Developers Sees 20% Rise in Q1 Sales to Rs 4,030 Crore Driven by Strong Housing Demand
Macrotech Developers has reported a 20% increase in Q1 sales to Rs 4,030 crore, driven by robust housing demand, with a strong pipeline of new launches planned for the fiscal year.
Macrotech DevelopersHousing DemandReal EstateLodha BrandMumbai Metropolitan RegionReal Estate NewsJul 13, 2024
The company's sale bookings stood at Rs 3,350 crore in the corresponding period of the previous year, indicating a substantial increase in demand for its properties, marketed under the Lodha brand. Furthermore, Macrotech Developers has also reported a 12% rise in collections from customers, reaching Rs 2,690 crore in the April-June quarter of FY25, compared to Rs 2,400 crore in the same period of the previous year.
In the previous fiscal year, the company achieved a record Rs 14,520 crore in sale bookings, marking a 20% growth over the previous year's Rs 12,060 crore. Macrotech Developers has guided for a 21% annual growth in sale bookings this fiscal year, aiming to reach Rs 17,500 crore.
To drive growth, the company plans to launch 17 new housing projects this fiscal year, with a revenue potential of Rs 12,000 crore. These projects will be launched across MMR, Pune, and Bengaluru, with a total area of 10.1 million square feet and an estimated gross development value (GDV) of Rs 12,100 crore.
Macrotech Developers has delivered an impressive 100 million square feet of real estate and is currently developing over 110 million square feet under its ongoing and planned portfolio.
Information
Macrotech Developers is a leading real estate developer in India, with a significant presence in MMR and Pune, and has recently entered the Bengaluru market. The company is known for its high-quality residential and commercial properties, marketed under the Lodha brand.
Macrotech Developers is a renowned real estate developer in India, focused on delivering high-quality residential and commercial properties that meet the evolving needs of its customers.
Frequently Asked Questions
What is the growth rate of Macrotech Developers' Q1 sales?
20% growth in sale bookings to Rs 4,030 crore.
What is the revenue potential of the new housing projects to be launched by Macrotech Developers?
Rs 12,000 crore.
How many new projects will Macrotech Developers launch this fiscal year?
17 new housing projects across MMR, Pune, and Bengaluru.
What is the total area to be launched by Macrotech Developers this fiscal year?
10.1 million square feet.
What is Macrotech Developers' guidance for annual growth in sale bookings this fiscal year?
21% annual growth in sale bookings to Rs 17,500 crore.
Related News Articles
Unlocking Opportunities in the Real Estate Insurance Market: Trends, Insights, and Projections
Discover the latest trends, challenges, and opportunities in the real estate insurance market, featuring key players, regional analysis, and market segmentation.
Pune Real Estate Market Sees 50% Jump in Registered Transactions, Average Home Price Reaches Record High
The number of real estate transactions in Pune has increased significantly, with registered transactions surging by 50% in the April-June 2024 quarter.
Haryana and Jammu & Kashmir Assembly Election Dates Announced by EC; Results to be Declared on October 4
The Election Commission of India has announced the dates for the Haryana and Jammu & Kashmir assembly elections. The polls will be held in a single phase on October 21, and the results will be declared on October 4.
Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Virgo Daily Horoscope for September 14, 2024: A Temporary Setback in Assets and Real Estate Deals
Be cautious with real estate deals today, as a temporary decline in assets may occur. However, this setback will be short-lived.
DLF Q2 Earnings Skyrocket: Net Profit Surges to ₹1381 Crore
DLF, India's leading real estate firm in terms of market capitalization, has reported a remarkable surge in its Q2 net profit, jumping over twofold to ₹1381 crore. The company, primarily engaged in the development and sale of residential and commercial pr