Macrotech Developers has posted a 20 per cent growth in sale bookings to Rs 4,030 crore for the first quarter of this fiscal year as housing demand continues to be strong.
Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,350 crore in the year-ago period.
As per its latest operational update posted on stock exchanges, the collection from customers rose 12 per cent to Rs 2,690 crore in April-June FY25 from Rs 2,400 crore in the corresponding period of the previous year.
The company registered 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore during 2023-24 as against Rs 12,060 crore in the previous year.
It has given a guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore.
Macrotech Developers, which has a significant presence in Mumbai Metropolitan Region (MMR) and Pune and has just entered Bengaluru, will launch 17 housing projects this fiscal year, having a revenue potential of Rs 12,000 crore, to boost sale bookings.
The company will launch 10 projects and seven new phases in existing residential projects during 2024-25 across the three cities.
The total area to be launched is estimated at 10.1 million square feet with an estimated gross development value (GDV) of Rs 12,100 crore.
Macrotech Developers has delivered around 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 13 2024 | 12:43 PM IST
