Macrotech Developers Sees Significant Growth in Q1 FY25 with ₹480 Crore PAT
<b>Macrotech Developers</b>, a leading <b>real estate</b> firm, reported a profit after tax (PAT) of ₹480 crore and pre-sales of ₹4,300 crore in Q1 FY25, marking a significant growth in the industry. The company's strong performance was driven by its dive
Real EstateMacrotech DevelopersPuneBudget 2024Long Term Capital GainsReal Estate PuneJul 30, 2024
The company added three more projects during the quarter in the Mumbai Metropolitan Region (MMR) and Pune with a combined gross development value of ₹11,100 crore. Macrotech Developers reported a debt of ₹4,320 crore in the first quarter of FY25.
Abhishek Lodha, MD and CEO, Macrotech Developers Ltd, said that the company's pre-sales in Pune stood at more than ₹1,000 crore in Q1, setting the stage for becoming the largest player in the city in the next few years. He attributed the strong growth in pre-sales to the company's diverse portfolio and strategic expansion in Pune.
The company has achieved more than 50% of its business development guidance in the first quarter itself. Macrotech Developers has added new projects worth over ₹65,000 crore since its IPO following a 'super market' strategy in each micro-market.
Macrotech Developers noted that the changes proposed in Budget 2024 with regard to long-term capital gains (LTCG) may lead to short-term disruption in secondary sales. However, the company believes that the changes will encourage real estate as a long-term investment avenue, and more tax liability on sale of old properties will nudge taxpayers to invest in new residential houses to save on tax.
Information
Macrotech Developers, formerly known as Lodha Developers, is a leading real estate firm in India. The company has a diverse portfolio of projects across the Mumbai Metropolitan Region (MMR) and Pune. Macrotech Developers is known for its luxury residential projects, commercial spaces, and township developments.
Macrotech Developers Ltd is a leading real estate firm in India, with a presence in the Mumbai Metropolitan Region (MMR) and Pune. The company is known for its luxury residential projects, commercial spaces, and township developments.
Frequently Asked Questions
What is the profit after tax (PAT) reported by Macrotech Developers in Q1 FY25?
Macrotech Developers reported a profit after tax (PAT) of ₹480 crore in Q1 FY25.
What is the pre-sales value reported by Macrotech Developers in Q1 FY25?
Macrotech Developers reported pre-sales of ₹4,300 crore in Q1 FY25.
What is the gross development value of the projects added by Macrotech Developers in Q1 FY25?
The gross development value of the projects added by Macrotech Developers in Q1 FY25 is ₹11,100 crore.
How much debt does Macrotech Developers have in Q1 FY25?
Macrotech Developers reported a debt of ₹4,320 crore in Q1 FY25.
What is the impact of the changes proposed in Budget 2024 on long-term capital gains (LTCG)?
The changes proposed in Budget 2024 may lead to short-term disruption in secondary sales, but will encourage real estate as a long-term investment avenue.
Related News Articles
JSW Infrastructure Acquires Office Space in Navi Mumbai
JSW Infrastructure has made a significant move in the commercial real estate market by acquiring office space worth Rs 88 crore in Navi Mumbai.
Mumbai: Event Management Firm Owner Loses Rs 1.22 Crore in IPO Investment Fraud
An event management company owner in Mumbai lost over Rs 1.22 crore to cyber fraudsters who tricked him into investing in share market IPOs with promises of high returns.
Mumbai Sees a Surge in Property Registrations: Over 9,400 Units in November 2024
Mumbai has witnessed a significant surge in real estate sales, with over 9,400 properties registered in November 2024. This marks the highest number of registrations in the past five years, driven by stable monetary policy rates, increased purchasing powe
Shraddha Kapoor’s Luxurious Juhu Apartment: A Closer Look at Her Rs 6 Lakh Monthly Rental
Bollywood actress Shraddha Kapoor has reportedly rented a lavish apartment in Juhu, Mumbai, for a staggering Rs 6 lakh per month. The property spans 3,928.86 square feet and includes four parking spaces. Property documents accessed by Zapkey reveal the de
Home Sales Below Rs 50 Lakh Dipped 14% in 2024 Across 7 Major Cities: JLL India
Real estate consultancy JLL India has reported that the sales of apartments priced below Rs 50 lakh experienced a 14% decline in 2024 across seven major cities in India. This trend reflects a growing challenge in the affordable housing market, despite ove
Maharashtra's Mega Investments at WEF Davos: A €4.99 Lakh Crore Boost
Maharashtra is making headlines at the World Economic Forum in Davos with mammoth investment deals totaling over ₹4.99 lakh crore. In an exclusive interview, Chief Minister Devendra Fadnavis discusses the state’s strategic partnerships and their impact on