Real estate firm Macrotech Developers on Friday reported a 21 per cent rise in sales bookings to a record Rs 4,290 crore during the July-September period due to improved housing demand.
Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, sold properties worth Rs 3,530 crore in the year-ago period.
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The company has a significant presence in the Mumbai Metropolitan Region (MMR) and Pune. It has also entered the Bengaluru market.
In a regulatory filing, Macrotech Developers said, “We achieved our best-ever quarterly pre-sales of Rs 42.9 billion (Rs 4.29 billion), showing a growth of 21 percent year-on-year despite the unfavorable Shradhh period that fell in September this fiscal year (vs. October in FY24).”
Fundraising stood at Rs 3,070 crore in the second quarter of this fiscal year, up 11 per cent from the same period last year.
Macrotech Developers said the company has added four new land parcels in Pune and Bengaluru, with a revenue potential of Rs 5,500 crore.
Regarding sales bookings, the company expressed confidence in achieving the target of 20 per cent growth during this fiscal year.
Macrotech Developers had recorded a 20 per cent growth in sales bookings to a record Rs 14,520 crore during 2023-24, up from Rs 12,060 crore a year earlier. It has set a target of selling properties worth Rs 17,500 crore this fiscal year.
The company has delivered approximately 100 million square feet of real estate and is developing more than 110 million square feet within its current and planned portfolio.
(Only the title and image of this report may have been modified by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: October 4, 2024 | 19:18 IS
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