Macrotech Developers, the company behind the ‘Lodha’ brand, aims to achieve Rs 21,000 crore in property sales for FY26, a 19% increase from the previous year. The company is bullish on housing demand across major cities.
New Delhi, Apr 25 (PTI) Realty firm Macrotech Developers Ltd aims to sell properties worth Rs 21,000 crore in the current fiscal, a 19 per cent increase annually, as it remains bullish on housing demand across major cities.
Macrotech Developers, which sells properties under the ‘Lodha brand’, is one of the largest real estate companies in the country.
Earlier this month, the Mumbai-based firm had reported a 21 per cent increase in its sales bookings during 2024-25 fiscal to a record Rs 17,630 crore from Rs 14,520 crore in the 2023-24 fiscial year.
According to its latest investors presentation, Macrotech Developers has given a guidance of sales bookings or pre-sales of Rs 21,000 crore for the current year.
The company has a significant presence in Mumbai Metropolitan Region (MMR), Pune, and Bengaluru markets.
On Thursday, Macrotech reported a 38 per cent increase in its consolidated net profit to Rs 921.7 crore for the latest quarter ended March on higher income.
Its net profit stood at Rs 665.5 crore in the year-ago period.
Total income rose to Rs 4,420.3 crore in the fourth quarter of the last fiscal from Rs 4,083.9 crore in the corresponding period of the preceding year.
Net profit increased to Rs 2,764.3 crore in 2024-25 fiscal from Rs 1,549.1 crore in the preceding year.
Total income grew to Rs 14,169.8 crore last fiscal from Rs 10,469.5 crore in the 2023-24.
Commenting on the performance, Abhishek Lodha, MD & CEO of Macrotech Developers, said, “Our best ever quarterly and annual performance showcases the buoyancy in demand for high quality homes in India from a top-notch brand like Lodha.”
The company delivered pre-sales of Rs 17,630 crore for FY25, thus meeting the guidance of delivering consistent and predictable 20 per cent growth – now for four consecutive years since its IPO, he said.
“Our focus on profitable growth has resulted in strong margins and Return on Equity (RoE), which provides us with continued strength to grow. Our strong collections are also indicative of our capability to convert sales into cash flow in a timely manner,” Lodha said.
Under new business development, he said the company added 10 land parcels in FY25 across MMR, Pune and Bengaluru. These land parcels will be used to develop projects with an estimated revenue potential of Rs 23,700 crore.
“Despite investments in business development in the fourth quarter, we further reduced our net debt by Rs 310 crore to Rs 3,990 crore (0.2x Net Debt/ Equity) – well below our ceiling of 0.5x Net Debt/Equity. This is on the back of strong operating cash flow generation of Rs 2,340 crore during the quarter,” Lodha said.
The company has delivered around 100 million square feet of real estate and is currently developing more than 110 million square feet under its on-going and planned portfolio.
