Mumbai, July 5, 2024 – Macrotech Developers Limited, also known as Lodha Group, has announced robust operational results for the first quarter of fiscal year 2025 (Q1FY25), reflecting significant growth in both pre-sales and collections.
Impressive Growth in Pre-Sales and Collections
In Q1FY25, Macrotech Developers achieved pre-sales amounting to INR 40.3 billion, marking a remarkable 20% year-over-year (YoY) growth from INR 33.5 billion in Q1FY24. This substantial increase underscores the strong demand and successful sales strategies employed by the company. Collections for the quarter stood at INR 26.9 billion, up 12% YoY from INR 24.0 billion in the same quarter last year, demonstrating the company’s effective execution and cash flow management.
Strategic Business Development
The company has also made significant strides in its business development efforts, adding three new projects in the Mumbai Metropolitan Region (MMR) and Pune. These projects contribute a combined Gross Development Value (GDV) of INR 111 billion, which exceeds 50% of the full-year guidance of INR 210 billion. This strategic expansion highlights Macrotech Developers’ commitment to growth and its strong market position in key regions.
Strong Financial Health
Despite substantial investments in new projects, Macrotech Developers reported a net debt of INR 43.2 billion, maintaining a net debt/equity ratio well below the ceiling of 0.5x. This prudent financial management has bolstered the company’s balance sheet, resulting in a credit rating upgrade to ‘AA- (Positive)’ by Crisil. The upgraded rating reflects confidence in the company’s financial stability and robust business fundamentals.
Performance Summary
Comparative figures indicate that while pre-sales saw a slight quarter-over-quarter (QoQ) decline of 5% from INR 42.3 billion in Q4FY24, the YoY growth remains strong. Collections experienced a more significant QoQ drop of 23% from INR 35.1 billion in Q4FY24, yet the overall annual performance for FY24 was solid with pre-sales at INR 145.2 billion and collections at INR 112.6 billion.
Leadership’s Perspective
Sanjyot Rangnekar, Company Secretary & Compliance Officer at Macrotech Developers, stated, “Our consistent performance and strategic growth initiatives have reinforced our market leadership. The strong pre-sales and collections figures, along with the addition of high-value projects, position us well for sustained growth.”
About Macrotech Developers
Macrotech Developers Limited is a leading real estate company in India, known for its high-quality residential and commercial projects. With a commitment to excellence and innovation, the company continues to set benchmarks in the industry.
Note:This post was written and edited by Aditya Pathak, based on their expertise and research. It is intended for informational purposes only. It does not constitute legal advice or Investment Advice. We welcome your feedback and questions on this content. Please feel free to contact us.