During the second half of this fiscal, Macrotech Developers is targeting to launch a 7.9 million square feet area, having a revenue potential of ₹10,000 crore
New Delhi, Oct 27 (PTI) Realty firm Macrotech Developers Ltd will launch nearly 8 million square feet of residential space in the second half of this fiscal with an estimated sales value of ₹10,000 crore, as part of its strategy to expand the business.
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Mumbai-based Macrotech Developers sells properties under the Lodha brand.
In its latest investors presentation, Macrotech Developers said it has launched a 3.6 million square feet area during the April-September period of this fiscal, with an estimated sales bookings potential of ₹6,130 crore.
During the second half of this fiscal, the company is targeting to launch a 7.9 million square feet area, having a revenue potential of ₹10,000 crore.
These projects will be launched in Mumbai Metropolitan Region (MMR), Pune and Bengaluru where the company has a significant presence.
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Earlier this month, Macrotech Developers reported a 21 per cent increase in sales bookings to a record ₹4,290 crore during the July-September period on better housing demand.
The company had sold properties worth ₹3,530 crore in the year-ago period.
During the last fiscal, the company registered a 20 per cent growth in its sales bookings (pre-sales) to a record ₹14,520 crore against ₹12,060 crore in the preceding financial year.
It has given the guidance of achieving 21 per cent annual growth in sales bookings during the current 2024-25 fiscal to ₹17,500 crore.
Abhishek Lodha, MD and CEO, Macrotech Developers Ltd, said, “We achieved our best ever quarterly pre-sales performance of ₹4,290 crore in Q2, FY25, which is a seasonally weak quarter due to Monsoons. Additionally, the quarter was impacted by the inauspicious ‘Shraddh’ period in September this year (vs October in FY24) as well as excessive rains”.
The company has achieved ₹8,300 crore of pre-sales in H1 (first half) of FY25, he added.
“…with the festive season well underway, we are on track to achieve our guidance of ₹17,500 crore pre-sales for FY25,” said Abhishek.
Early signs of the festive season suggest robust demand for quality branded housing on the back of strong affordability and consumer optimism, he said.
“Intense competition among mortgage providers, coupled with the expected downward trajectory for rate cycle in the H2 FY25, will provide a further tailwind for the sector, especially in the mid-income segment where we have a sizeable presence,” Abhishek said.
Macrotech Developers, which is one of the leading real estate developers in the country, has delivered around 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.
