Macrotech Developers Aims for 21% Growth in FY24
Macrotech Developers, known for its Lodha brand, has set an ambitious target of selling properties worth Rs 17,500 crore in the current fiscal year (FY24). This represents a 21% increase compared to the previous year, reflecting the company's confidence in the continued strength of the housing market.
The company's optimism is fueled by its record-breaking performance in FY23, where it achieved a 20% growth in sales bookings, reaching Rs 14,520 crore. This success was driven by positive consumer sentiment and strong economic growth, which are expected to continue in the coming year.
Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company will also continue to acquire land parcels, both through outright purchases and partnerships with landowners, to secure future development opportunities.
Q4 FY23 Net Profit: Rs 665.5 crore (down 11% YoY)
Rs 4,083.9 crore (up 25% YoY)
Rs 1,549.1 crore (up 218% YoY)
Rs 10,469.5 crore (up 9% YoY)
Reduced to Rs 3,000 crore (less than 0.2x of equity)
Delivered around 100 million square feet of real estate
Currently developing over 110 million square feet of projects
Added new projects worth over Rs 20,000 crore in FY23
Macrotech's strong financial performance, coupled with its strategic expansion plans, positions the company for continued growth in the Indian real estate market. The company's focus on delivering high-quality homes and reducing debt further strengthens its position as a leading player in the industry.