Macrotech Developers

Macrotech adds 12 land parcels in FY23 to build new projects to meet demand

Realty firm Macrotech Developers has added 12 land parcels for the development last fiscal, with an estimated revenue potential of nearly Rs 20,000 crore as it seeks to expand the business to tap rising housing demand. The company had given a guidance of Rs 15,000 crore for new business development for 2022-23 fiscal. Macrotech Developers, which sells its properties under the Lodha brand, acquires land outright and also enters into joint development agreements (JDAs) with landowners to expand the business. It mainly focuses on Mumbai Metropolitan Region (MMR) and the Pune market. It has entered Bengaluru recently. "We continue to remain the preferred partner for various landowners across micro-markets for JDA partnerships," Macrotech Developers MD and CEO Abhishek Lodha said. The company has added 12 projects in FY23 on 14 million square feet for a combined GDV (gross development value) of Rs 19,800 crore, he added. "Business growth robustness continues to strengthen with a ...

Macrotech sells properties worth Rs 12,064 cr in FY23, sales rise 34%

Realty firm Macrotech Developers' sales bookings rose 34 per cent to a record Rs 12,064 crore in the last fiscal, on better demand despite rise in interest rates on home loans. Mumbai-based Macrotech Developers, which sells homes under the Lodha brand, is one of the leading real estate firms in the country. In a regulatory filing, Macrotech Developers said it has delivered a strong pre-sales momentum with sales bookings of Rs 3,025 crore in the fourth quarter of last fiscal and Rs 12,064 crore for 2022-23 fiscal. The company said it has surpassed the full-year guidance of Rs 11,500 crore. The collections of money from customers stood at Rs 10,606 crore for FY23, up 23 per cent YoY (year-on-year). Net debt has further reduced to Rs 7,071 crore, showing a decline of Rs 2,229 crore for the year. Abhishek Lodha, MD & CEO, Macrotech Developers, said the company has achieved yet another quarter of strong performance enabling us to surpass its annual guidance. "The icing on the cake is

Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%

In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

Macrotech Developers surges 6% on heavy volumes; stock up 26% in 4 days

According to analysts, Macrotech Developers is expected to benefit from resilient housing demand, supply consolidation and peaking out of high interest rates.

Macrotech Developers aims to cut debt by nearly 40% in 2023: MD Lodha

Realty firm Macrotech Developers Ltd aims to cut its net debt by nearly 40 per cent to around Rs 5,000 crore by the end of this calendar year with the help of surplus cash flow from strong housing sales, a top company official said. Mumbai-based Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha sounded bullish on the long term growth potential of India's residential real estate market. Sales bookings and cash flows have been very strong so far this fiscal year, resulting in reduction in debt by Rs 753 crore in the December quarter to Rs 8,042 crore, he said. "We are hoping to reduce debt further by Rs 1,000 crore by end of this fiscal year to about Rs 7000 crore," Lodha said. The company plans to cut debt by Rs 500-800 crore every quarter. "We will hope to be close to Rs 5,000 crore of net debt sometime by end of this calendar ye

Macrotech Developers Q3 net rises to Rs 404 cr, income dips to Rs 1,902 cr

Realty firm Macrotech Developers Ltd on Tuesday reported a 41 per cent increase in its consolidated net profit at Rs 404.98 crore for the quarter ended December. Its net profit stood at Rs 286.38 crore in the year-ago period, the company said in a regulatory filing. However, the total income fell to Rs 1,902.44 crore in the third quarter of this fiscal year from Rs 2,155.70 crore in the corresponding period of the previous year. Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. It focuses on Mumbai Metropolitan Region (MMR) and Pune -- the two biggest property markets in Maharashtra. It has recently forayed into the Bengaluru residential market.

Higher demand drives record quarterly bookings for realty majors

Higher sales, improving cash flows are expected to drive further debt reduction for the sector

Macrotech Q3 sales bookings up 16% at Rs 3,035 cr; pre-sales rise 62%

Realty firm Macrotech Developers Ltd on Friday reported a 16 per cent growth in its sales bookings at Rs 3,035 crore in the third quarter of this fiscal on better housing demand. Macrotech Developers, which sells properties under the 'Lodha' brand, is one of the leading real estate developers of the country. In a regulatory filing, Macrotech Developers informed that the company has achieved its "best ever Q3 (October-December) pre-sales performance of Rs 3,035 crores showing a growth of 16 per cent on a YoY basis." During April-December period of 2022-23 fiscal, Macrotech Developers has clocked 62 per cent growth in its sales bookings to Rs 9,039 crore, from Rs 5,568 crore in the year-ago period. The total sales bookings in the first nine months of the current fiscal has already crossed pre-sales of Rs 9,024 crore achieved in the entire last financial year. "This puts us on track to surpass our full-year guidance of Rs 11,500 crore," the company said. The collections of money fro

Macrotech Developers to invest Rs 330 cr to build warehouse in Mumbai

Realty firm Macrotech Developers will invest Rs 330 crore to develop a premium warehousing project in Mumbai as part of its expansion plan and to tap rising demand from e-commerce and third-party logistic companies. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate firms in the country. The company said in a statement that Lodha Green Digital Infrastructure (LGDI) platform has acquired around 8 acres of land in Kurla, Mumbai. The land will be used for the development of about 4 lakhs square feet of Grade-A in-city fulfilment centre to provide the last mile warehousing infrastructure to 3PL, e-commerce and quick-commerce companies. "The development will involve a total investment of around Rs 330 crore and is expected to be completed in the next 12-18 months in phases," it added. Shaishav Dharia, Director, Lodha Green Digital Infrastructure, said this is the second acquisition in Mumbai. "We see that there is a huge demand

Macrotech Developers below QIP price after 7% fall today; down 25% in 1 yr

Macrotech Developers' promoters have raised Rs 3,547 crore by selling shares around 7.2% of the company's equity share capital to institutional investors at the offer price of Rs 1,026 per share

Macrotech Developers' promoters plan to raise Rs 3,500 crore via share sale

Realty firm Macrotech Developers' promoters plan to raise about Rs 3,500 crore by selling shares to institutional investors, according to sources. Mumbai-based Macrotech Developers sells its properties under the Lodha brand. In a regulatory filing late on Wednesday, Macrotech Developers informed that the company has launched Qualified Institutional Placement (QIP) of the equity shares. The QIP consists of an offer-for-sale (OFS) of shares by promoter group entities -- Sambhavnath Trust, Sambhavnath Infrabuild and Farms Pvt Ltd, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd. The promoters are selling shares for the purpose of achieving minimum public shareholding, the filing said. As on September 2022, promoters had 82.20 per cent stake in the company and they need to bring it down to 75 per cent in order to maintain the minimum 25 per cent public shareholding. Macrotech informed that the floor price has been fixed at Rs 1,022.75 per share but did not .

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

Macrotech Developers to launch 16 projects worth Rs 10,300 crore in H2 FY23

Realty firm Macrotech Developers plans to launch 16 new projects in the second half of this fiscal with an estimated sales potential of Rs 10,300 crore as it seeks to tap rising housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making an entry into the Bengaluru market with one housing project. According to an investor's presentation, the company launched a 4.4 million square feet area during the April-September period of this fiscal with an estimated sales booking of Rs 8,480 crore. For the second half of this fiscal, Macrotech Developers has lined up new launches of 16 projects, comprising a 7.3 million square feet area with an estimated sales value of Rs 10,300 crore. These projects would be a mix of fully-owned and joint development with landowners. In an interview with PTI last week,

Macrotech Developers looking to sell mall, office space: MD Abhishek Lodha

Realty firm Macrotech Developers plans to sell a shopping mall near Mumbai and 1.5-2 lakh square feet office space by March as part of the company's strategy to monetise non-core assets, its MD and CEO Abhishek Lodha said. He did not disclose the deal value of these 6.5-7 lakh square feet of commercial space. But, market sources said the value of these assets could be around Rs 800 crore. Mumbai-based Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making entry into Bengaluru market with one housing project. In an interview with PTI, Lodha sounded bullish on growth potential of India's primary residential market and highlighted that demand has been strong despite rise in interest rates on home loans following the RBI's move to hike repo rate by 190 basis points since May this year. During April-Septembe

Macrotech posts Rs 933-cr loss in Q2 on provisions made for UK biz

Realty firm Macrotech Developers Ltd on Tuesday reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate developers in the country. Its net profit stood at Rs 223.36 crore in the year-ago period, according to a regulatory filing. The profit (excluding exceptional item and forex) stood at Rs 367 crore, up 28 per cent year-on-year. The company's total income also fell to Rs 1,761.23 crore in the second quarter of this fiscal year from Rs 2,137.76 crore in the corresponding period of the previous year. Macrotech suffered a loss because of an exceptional item of Rs 1,177 crore. The Group had given loans to Lodha Developers UK Ltd and its subsidiaries from time to time for UK projects and has accrued interest thereon, Macrotech Developers said. "The current economic ...

Macrotech Developers' sales bookings up 57% to Rs 3,148 crore in Q2

Realty firm Macrotech on Thursday reported a 57 per cent increase in its sales bookings during the July-September quarter to Rs 3,148 crore on strong housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. Its sales bookings stood at Rs 2,003 crore in the year-ago period. "Lodha achieved its best ever Q2 pre-sales performance of Rs 3,148 crore, showing a growth of 57 per cent on a YoY (year-on-year) basis," the company said in a regulatory filing. The company's sales bookings have reached Rs 6,004 crore, which is 52 per cent of its guidance of Rs 11,500 crore for the full 2022-23 fiscal. On operational performance, Abhishek Lodha, MD and CEO of Macrotech Developers said, "Despite this being the seasonally weakest quarter, it is the 2nd time in the last 3 quarters when we have surpassed Rs 3,000 crore of pre-sales, suggesting a strong underlying housing demand, the attraction of Lodha Brand amon

Canada Pension Fund arm sells Macrotech shares worth Rs 736 crore

Ivanhoe Op India Inc sold 43,84,464 shares on NSE and 26,44,464 shares on BSE, amounting to a 1.5 per cent stake in the company

Macrotech Developers slips 8% after 2% equity changed hands via block deals

Till 10:11 am; around 6.2 million shares or 1.33 per cent of total equity of the company changed hands on the NSE, exchange data shows.

Sales, debt reduction shape strong outlook for Macrotech Developers

Realty company on track to meet FY23 target of Rs 11,500 crore in bookings

Macrotech Developers profit rises 68% to Rs 271 crore in June quarter

On the performance, Macrotech Developers Ltd MD and CEO Abhishek Lodha highlighted that the April-June period was its best-ever first quarter with Rs 2,814 crore of pre-sales from India business.