Macrotech Developers Limited updates on performance of UK investments

1 Grosvenor Square, London (GSQ):

Travel restrictions to the UK for visitors from the USA and Europe were eased starting in August 2021, allowing prospective purchasers to visit our 1 Grosvenor Square development for the first time since its readiness.

In the month of September, the project achieved Pre Sales of £110 million (~INR 1100 crores).

The level of customer enquiries and visits has continued to rise and indicate the potential for continued strong sales performance in the current quarter.

The current performance exceeds our business plan and if the trend continues without any further unforeseen events, we expect to sell out the project ahead of our business plan of FY 24, expediting release of capital for our growth and deleveraging.

Lincoln Square, London (LSQ):

Lincoln Square achieved Pre Sales of £35 million (~INR 350 crores) during the quarter, its best ever quarterly performance.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1058.75 as compared to the previous close of Rs. 1058.8. The total number of shares traded during the day was 18239 in over 1281 trades.

The stock hit an intraday high of Rs. 1075 and intraday low of 1050. The net turnover during the day was Rs. 19387027.

Source : Equity Bulls

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