Macrotech Developers Ltd - Key Operational Updates for 3QFY24

Macrotech Developers Limited has announced key operational updates for 3QFY24:

Pre-Sales: Lodha achieved its best ever 3rd quarter Pre-sales performance of INR 34.1 bn, showing a growth of c.12% on a YoY basis. This strong performance is despite the inauspicious 'Shradhh' period falling in October this FY (vs. September in FY23). Excellent response to launch of 1st project in Bengaluru with 1st phase sold out in 3 days showcases brand strength in new geographies. For the first 3 quarters of FY24, our pre-sales are ~INR 103 billion, showcasing YoY growth of c. 14% and keeping us on track to deliver our pre-sales guidance of INR 145 bn for FY24.

Collections: Collections were INR 25.9 bn for 3QFY24

Business Development: We added 3 projects with ~2 million sq. ft. of saleable area for a GDV of INR ~60 bn. Our business development for 9mFY24 at INR ~203 bn has already surpassed our full year guidance of INR ~175 bn for the year. UK investments are now completely exited with receipt of entire balance as per earlier communication.

Net debt: Our net debt remained largely stable during the quarter at INR 67.5 bn.



The numbers mentioned above as on December 31, 2023 are provisional numbers and is subject to approval of the Audit Committee and Board of Directors and also subject to review by the Joint Statutory Auditors of the Bank.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1098.50 as compared to the previous close of Rs. 1004.30. The total number of shares traded during the day was 164744 in over 9348 trades.

The stock hit an intraday high of Rs. 1125.85 and intraday low of 1010.15. The net turnover during the day was Rs. 177528832.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty 3QFY24 KeyOperationalUpdate