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Macrotech Developers said its pre-sales jumped 21% to Rs 4,290 crore in Q2 FY25 from Rs 3,530 crore in Q2 FY24.
The company’s collections stood at Rs 3,070 crore in Q2 FY25, up 11% from Rs 2,750 crore in Q2 FY24.
The company has added four projects in Pune and Bengaluru, totaling Rs 5,500 crore GDV. Business development for the first half of the financial year stood at Rs 1,660 crore, over 75% of the full year guidance of Rs 2,100 crore.
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Additionally, the company acquired approximately 45 acres of land for its digital infrastructure (warehousing and industrial) business in Chennai, and entered into an agreement to increase its rental income stake (PropCo) of the digital infrastructure platform at 66.7% (from earlier, around 33%). It continues to see new opportunities to evolve its digital infrastructure portfolio.
Net debt is Rs 4,920 crore, well below the 0.5x net debt/equity cap.
Macrotech Developers (Lodha Group) is one of the largest real estate developers in India offering services on a large scale since the 1980s. Lodha Group’s core business is residential real estate development, with emphasis on housing affordable and middle-income.
The company’s consolidation jumped to Rs 475.90 crore in Q1FY25 from Rs 178.40 crore in Q1FY24. Net sales jumped 76% YoY to Rs 2,84,650 crore in Q1FY24.
The counter fell by 0.33% to end at Rs 1,171.85 on Friday, October 4, 2024.
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First publication: October 5, 2024 | 9:04 a.m. STI