New Delhi: Macrotech Developers will launch 17 residential projects with a revenue potential of Rs 12,000 crore this financial year to boost its sales, with bookings set to reach record levels in 2023-24 due to strong demand.
According to the investor presentation, Macrotech Developers – which markets its properties under the Lodha brand – will launch 10 new projects and 7 new phases of existing residential projects in the Mumbai Metropolitan Region (MMR), Pune and Bengaluru during 2024-25. ,
The total area to be launched is estimated to be 10.1 million sq ft with an estimated gross development value (GDV) of Rs 12,100 crore.
However, the company said guidance for this fiscal year's launch pipeline may increase as it may acquire more land parcels and be able to launch in the same fiscal year.
During FY24, Macrotech Developers reported that the company launched projects worth Rs 18,000 crore, against guidance of Rs 13,000 crore.Lodha expressed confidence that demand will remain strong in India's housing sector, which is probably in its third year of long-term growth. Due to higher economic growth and increasing consumer preference towards home ownership rather than renting.
Lodha said the company will add more land for future development to maintain a "consistent and predictable" growth path.
“Our best-ever quarterly and annual performance reflects the growth in demand for high-quality homes in India from branded developers,” Lodha said.
He said the company will purchase land parcels for future development through full acquisition and partnership with land owners.Recently, Macrotech Developers reported an 11 per cent decline in its consolidated net profit to Rs 665.5 crore in the March quarter from Rs 744. crore in the year-ago period. The total income of the company increased to Rs 4,083.9 crore in the quarter under review. It was Rs 3,271.7 crore in the same period a year ago.
During 2023-24, Macrotech Developers reported a three-fold increase in profit, from Rs 486.7 crore to Rs 1,549.1 crore in 2022-23. The total income of the company increased from Rs 9,611.2 crore to Rs 10,469.5 crore.
Its debt has reduced to around Rs 3,000 crore.
The company also added several new land parcels to build housing projects with a potential sale value of over Rs 20,000 crore in the last financial year.
Lodha said, “This makes us a unique housing company, having achieved the trio of significant pre-sales growth, strong business growth as well as significant debt reductions, demonstrating our brand strength and operational prowess.,
Macrotech Developers has delivered approximately 100 million sq ft of real estate and is developing over 110 million sq ft under its planned portfolio.
According to the investor presentation, Macrotech Developers – which markets its properties under the Lodha brand – will launch 10 new projects and 7 new phases of existing residential projects in the Mumbai Metropolitan Region (MMR), Pune and Bengaluru during 2024-25. ,
The total area to be launched is estimated to be 10.1 million sq ft with an estimated gross development value (GDV) of Rs 12,100 crore.
However, the company said guidance for this fiscal year's launch pipeline may increase as it may acquire more land parcels and be able to launch in the same fiscal year.
During FY24, Macrotech Developers reported that the company launched projects worth Rs 18,000 crore, against guidance of Rs 13,000 crore.Lodha expressed confidence that demand will remain strong in India's housing sector, which is probably in its third year of long-term growth. Due to higher economic growth and increasing consumer preference towards home ownership rather than renting.
Lodha said the company will add more land for future development to maintain a "consistent and predictable" growth path.
“Our best-ever quarterly and annual performance reflects the growth in demand for high-quality homes in India from branded developers,” Lodha said.
He said the company will purchase land parcels for future development through full acquisition and partnership with land owners.Recently, Macrotech Developers reported an 11 per cent decline in its consolidated net profit to Rs 665.5 crore in the March quarter from Rs 744. crore in the year-ago period. The total income of the company increased to Rs 4,083.9 crore in the quarter under review. It was Rs 3,271.7 crore in the same period a year ago.
During 2023-24, Macrotech Developers reported a three-fold increase in profit, from Rs 486.7 crore to Rs 1,549.1 crore in 2022-23. The total income of the company increased from Rs 9,611.2 crore to Rs 10,469.5 crore.
Its debt has reduced to around Rs 3,000 crore.
The company also added several new land parcels to build housing projects with a potential sale value of over Rs 20,000 crore in the last financial year.
Lodha said, “This makes us a unique housing company, having achieved the trio of significant pre-sales growth, strong business growth as well as significant debt reductions, demonstrating our brand strength and operational prowess.,
Macrotech Developers has delivered approximately 100 million sq ft of real estate and is developing over 110 million sq ft under its planned portfolio.
