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
Mumbai's Real Estate Conundrum: A Barrier to Startup Growth
High real estate costs in Mumbai are hindering the growth of startups, says Milind Deora, a member of the Indian National Congress.
Tragedy Strikes in Pune: 10-Year-Old Boy Drowns in Canal While Retrieving Cricket Ball
A tragic incident occurred in Pune's Dhayari area where a 10-year-old boy lost his life while trying to retrieve a cricket ball from a canal. The incident happened on Monday afternoon, and the police have registered a case of sudden death.
Key Infrastructure Sectors Witness Slower Growth in September
Infrastructure, real estate, building, budget. Growth rates in key sectors such as coal, fertiliser, and steel have moderated, while cement and refinery products show positive trends.
CBI Arrests East Coast Railways DRM in Rs 25 Lakh Bribery Case
Pune - CBI Arrests East Coast Railways DRM in Rs 25 Lakh Bribery Case; Pune and Mumbai Firms Proprietors Also Booked
Dubai's Real Estate Boom: Innovative Investment Strategies for Buyers
As Dubai's real estate market continues to soar, investors are exploring creative ways to capitalize on the opportunity. Real estate investment trusts (REITs) are gaining popularity, offering a way to gain exposure to income-generating properties without
Hem Batra and Karuna Gidwani of Million Dollar Listing India: Navigating the Real Estate Scene
Streaming on Sony LIV, Million Dollar Listing India showcases six realtors, including Hem Batra and Karuna Gidwani, as they navigate the dynamic real estate scene in India's most sought-after locations.