Macrotech Developers Sees Significant Jump in Q1 Profit Driven by Strong Pre-Sales
Realty firm Macrotech Developers reports a 2.7-fold jump in consolidated net profit to Rs 475.3 crore for the June 2024 quarter, driven by higher income and strong pre-sales.
Macrotech DevelopersReal EstateMumbaiPuneQ1 ProfitReal Estate MumbaiJul 30, 2024
The company's total income grew to Rs 2,918.3 crore during the April-June period of this fiscal year, up from Rs 1,671.8 crore in the corresponding period of the preceding year. Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, expressed his delight at the company's performance, stating that it was their best ever 1st quarter with Rs 4,030 crore of pre-sales.
Lodha highlighted that the company's pre-sales in Pune stood at more than Rs 1,000 crore in Q1, which is more than 50 per cent of its pre-sales in Pune in the previous year. This sets the stage for Macrotech Developers to become the largest player in the city in the next few years. Despite inclement hot weather conditions and election season impacting footfalls, the company achieved a strong 20 per cent YoY growth in pre-sales.
Macrotech Developers has also added three more projects at marquee locations in the MMR and Pune with Rs 11,100 crore of GDV. The company's strong balance sheet and brand attractiveness have enabled it to add new projects worth over Rs 65,000 crore since its IPO. With a large number of projects tied up across several micro-markets, Macrotech Developers is poised for predictable and sustainable growth over the longer term.
The company 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. With its strong brand presence and commitment to delivering quality projects, Macrotech Developers is well-positioned to maintain its growth momentum in the coming quarters.
Macrotech Developers is a leading real estate company that has delivered over 100 million square feet of real estate. The company is currently developing more than 110 million square feet under its ongoing and planned portfolio.Macrotech Developers Ltd is a leading real estate company that has established itself as a trusted brand in the Indian real estate industry.
Frequently Asked Questions
What is the consolidated net profit of Macrotech Developers for the June 2024 quarter?
The consolidated net profit of Macrotech Developers for the June 2024 quarter is Rs 475.3 crore.
What is the total income of Macrotech Developers during the April-June period of this fiscal year?
The total income of Macrotech Developers during the April-June period of this fiscal year is Rs 2,918.3 crore.
What is the pre-sales value of Macrotech Developers in Pune during Q1?
The pre-sales value of Macrotech Developers in Pune during Q1 is more than Rs 1,000 crore.
What is the GDV of the three new projects added by Macrotech Developers in MMR and Pune?
The GDV of the three new projects added by Macrotech Developers in MMR and Pune is Rs 11,100 crore.
What is the total value of new projects added by Macrotech Developers since its IPO?
The total value of new projects added by Macrotech Developers since its IPO is over Rs 65,000 crore.
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