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
Zika Virus Infections on the Rise in Pune: Another Pregnant Woman Tests Positive
The total number of Zika cases in Pune has risen to six, with another pregnant woman testing positive for the virus. The Pune Municipal Corporation is intensifying preventive measures to combat the outbreak.
Mastermind of 60+ Cyber Frauds Arrested at Surat Airport by Navi Mumbai Cyber Police
A 34-year-old accused, wanted by multiple states, was arrested at Surat Airport for masterminding over 60 cyber frauds from Dubai.
Emerald Haven Realty Expands Footprint in Bengaluru and Chennai with New Land Acquisitions
Emerald Haven Realty acquires land in Bengaluru and Chennai, plans to develop premium residential projects
India's Real Estate Sector Set for a USD10 Trillion Transformation by 2047
The Indian real estate sector is expected to play a crucial role in the country's economic growth over the next few decades, with a projected transformation worth USD10 trillion by 2047.
Mid-sized Developers Thrive in India's Reviving Real Estate Market
The Indian real estate sector is witnessing a significant upturn, and mid-sized developers are seizing the opportunity. These firms are focusing on niche developments and innovative strategies to carve out a strong market presence.
Minor Arrested for Robbing and Threatening Senior Citizen in Real Estate Business
Ravindra Agarwal, a 56-year-old real estate businessman, was targeted by a minor who tied him up, threatened him, and robbed him in his home in the Sopan Baug area.