Macrotech Developers Limited - Key Operational Updates for Q4 FY24

Macrotech Developers Limited has announced the key operational updates for 4QFY24:

a) Pre-Sales: We had Q4FY24 pre-sales of INR 42.3 bn - our best quarterly performance ever, up 40% on YoY basis. For FY24, pre-sales were INR 145.2 bn - once again our best ever annual presales performance, thus meeting our guidance of delivering consistent and predictable 20% growth.

b) Collections: Collections were INR 35.1 bn for 4QFY24 showing a growth of 20% YoY. FY24 collections were 112.6 bn.

c) Business development: During FY24, we added new projects having cumulative GDV of INR 203 bn across various micro-markets of MMR, Pune and Bengaluru, exceeding our guidance of INR 175 bn.

d) Net debt: On the back of strong operating cash flow generation and recently concluded equity raise, our net debt further reduced to INR 30.1 bn which is <0.2x of equity, thus achieving our goal of net debt:equity <= 0.5x. Continuing robustness in business fundamentals and strengthening of balance sheet has led to further credit rating upgrade to 'AA- (Stable)' by ICRA.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1160.10 as compared to the previous close of Rs. 1137.45. The total number of shares traded during the day was 15074 in over 1209 trades.

The stock hit an intraday high of Rs. 1164.50 and intraday low of 1137.45. The net turnover during the day was Rs. 17402157.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty KeyOperationalUpdate Q4FY24