Macrotech Developers pre-sales jumps 21% YoY in Q2 FY25 | Capital Market News
Macrotech Developers said that its pre-sales jumped 21% to Rs 4,290 crore in Q2 FY25 as compared with Rs 3,530 crore in Q2 FY24.
The companys collections stood at Rs 3,070 crore in Q2 FY25, up 11% as compared with Rs 2,750 crore in Q2 FY24.
The company added four projects in Pune and Bengaluru, having Rs 5,500 crore of GDV. Business development for the 1st half of the fiscal stands at Rs 1,660 crore, which is more than 75% of full year guidance of Rs 2,100 crore.
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Additionally, the company has acquired approximately 45 acres of land for its digital infrastructure (warehousing and industrial) business in Chennai, as well as entered into agreement to increase its stake in the rental income (PropCo) from Digital Infrastructure platform to 66.7% (from earlier around 33%). It continue to see further opportunities to scale Digital Infrastructure portfolio.
Net debt is Rs 4,920 crore, well below the ceiling of 0.5x net debt/equity.
Macrotech Developers (Lodha Group) is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.
The companys consolidated surged to Rs 475.90 crore in Q1 FY25 as compared with Rs 178.40 crore in Q1 FY24. Net sales jumped 76% YoY to Rs 2,84,650 crore in Q1 FY24.
The counter fell 0.33% to end at Rs 1,171.85 on Friday, 4 October 2024.
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First Published: Oct 05 2024 | 9:04 AM IST
