Macrotech Developers Set to Unveil Rs 19,000-Crore Housing Project
Real estate giant Macrotech Developers Ltd, renowned for its Lodha brand, is poised to launch residential projects valued at โน19,000 crore in the current financial year. This ambitious plan targets the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, reflecting the company’s confidence in the robust demand within the housing market. Executive Director of Finance, Sushil Kumar Modi, emphasized the company’s commitment to investing in the Indian real estate sector, aiming to significantly expand its footprint.
Strategic Expansion Plans
Macrotech Developers is gearing up to unveil 17 new residential projects this fiscal year, covering an impressive 13 million square feet. The anticipated sales from these projects are projected to reach โน19,000 crore. Modi highlighted the company’s successful track record, noting that in the previous fiscal year, they launched around 10 million square feet of projects, generating a Gross Development Value (GDV) of approximately โน14,000 crore across 24 developments. The upcoming launches will primarily focus on the MMR, Pune, and Bengaluru markets, where the company sees substantial growth potential.
In Pune, Macrotech has already achieved pre-sales of โน2,500 crore for the 2024-25 period, a notable increase from โน1,800 crore the previous year. Similarly, in Bengaluru, the company recorded sales of โน800 crore last fiscal year and aims to double this figure by 2025-26. To support these ambitious growth targets, Macrotech plans to invest over โน8,000 crore this fiscal year in acquiring land parcels across its key markets.
Land Acquisition and Development Strategy
To facilitate its expansion, Macrotech Developers has set a goal of acquiring multiple land parcels this financial year, which could potentially generate revenue of โน25,000 crore. In the previous fiscal year, the company successfully acquired 10 land parcels with a revenue potential of โน23,700 crore. Modi explained that the company employs various strategies for land acquisition, including outright purchases and joint development agreements (JDAs) with landowners, which involve upfront payments.
The companyโs investment strategy is robust, with plans to allocate more than โน8,000 crore in the current fiscal year to secure new projects. This investment is crucial for Macrotech to meet its target of adding new projects worth โน25,000 crore to its portfolio. The companyโs proactive approach to land acquisition is expected to bolster its development pipeline and enhance its market position.
Financial Performance and Future Outlook
Macrotech Developers has demonstrated strong financial performance, reporting a 38% year-on-year increase in consolidated net profit to โน921.7 crore for the March quarter. This growth is attributed to higher income levels, with net profit rising from โน665.5 crore in the same quarter the previous year. For the full fiscal year 2024-25, the companyโs net profit surged to โน2,764.3 crore, up from โน1,549.1 crore in the prior year, while total income increased to โน14,169.8 crore from โน10,469.5 crore in FY24.
Looking ahead, Macrotech has set a guidance of โน21,000 crore in sale bookings for FY26, marking a nearly 20% increase compared to the previous fiscal year. Earlier this month, the company announced record sale bookings of โน17,630 crore for FY25, surpassing its own guidance of โน17,500 crore. With a strong pipeline of ongoing and upcoming projects, Macrotech Developers continues to solidify its position as a leader in the Indian real estate market, having delivered approximately 100 million square feet of real estate to date and currently developing over 110 million square feet.
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