Macrotech Developers aims 21% growth in pre-sales to ₹17,500 cr
Realty firm Macrotech Developers has set a target to sell properties worth ₹17,500 crore during the current fiscal, a 21% growth from the previous year, as the company expects housing demand to remain strong, its managing director and chief executive Abhishek Lodha said.
Macrotech Developers, which sells its properties under the Lodha brand, registered a 20% growth in its sale bookings (also called pre-sales) to a record ₹14,520 crore last fiscal from ₹12,060 crore in the 2022-23 financial year.
“We met our guidance of delivering consistent and predictable 20% growth in the sale bookings during the last fiscal year. The guidance for the current fiscal has been kept at ₹17,500 crore, again 20% growth from the 2023-24 fiscal,” Lodha said.
He expects the housing demand to remain strong amid positive consumer sentiments and high economic growth.
“Our best ever quarterly and annual performance showcases the buoyancy in demand for high quality homes in India from branded developers,” Lodha said.
To encash this consumer demand, Macrotech Developers would launch multiple housing projects across its three focus markets—Mumbai Metropolitan Region (MMR), Pune and Bengaluru.
Lodha said the company would continue to add land parcels, through outright acquisitions and also partnerships with landowners, for future development.
Earlier this week, Macrotech Developers reported an 11% decline in its consolidated net profit to ₹665.5 crore in the March quarter from ₹744.4 crore in the year-ago period.
The company’s total income grew to ₹4,083.9 crore in the quarter under review from ₹3,271.7 crore in the year-ago period.
During the 2023-24 fiscal, Macrotech Developers registered a three-fold jump in profit to ₹1,549.1 crore from ₹486.7 crore in the 2022-23 fiscal.