Macrotech Developers Expand Real Estate Projects Across Mumbai, Pune, and Bengaluru
Macrotech Developers, the Mumbai-based real estate firm known for the Lodha brand, has recently acquired seven land parcels in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. These acquisitions are aimed at developing new housing projects and are estimated to have a revenue potential of approximately Rs 166 billion. Macrotech secured these land parcels through a combination of outright purchases and joint development agreements with landowners.
Growth and Progress of Macrotech Developers
In a recent operational update, Macrotech announced the addition of four new projects in Pune and Bengaluru, with a combined Gross Development Value (GDV) of Rs 55 billion. This brings their total number of launched projects in the first half of FY25 to overrupee 166 billion, surpassing 75% of their full-year guidance of Rs 210 billion.
During the April-June quarter, Macrotech acquired three of the seven land parcels, projecting a revenue potential of Rs 111 billion. While the company did not specify the number of outright purchases, it emphasized the strength of its development pipeline, stating that they continue to have a robust pipeline of business development opportunities for residential segments.
Achievements and Optimistic Outlook of Macrotech Developers
Macrotech recently reported record-breaking sales bookings of Rs 42.9 billion during the July-September period, a 21% increase compared to the same quarter in the previous year. This impressive growth in sales bookings occurred despite the traditionally inauspicious period of ‘Shradhh’ falling in September during this fiscal year. Macrotech successfully achieved its best-ever quarterly pre-sales.
Looking forward, the company remains optimistic about achieving 20% growth in sales bookings for FY25. In the previous fiscal year, Macrotech recorded Rs 145.2 billion in bookings, a significant 20% increase from Rs 120.6 billion in FY23. For the current fiscal year, the company aims to reach Rs 175 billion in sales.
With a track record of delivering 100 million square feet of real estate, Macrotech is currently involved in the development of over 110 million square feet across various ongoing and planned projects.
Conclusion
Macrotech Developers, known for its Lodha brand, has made strategic land acquisitions in diverse locations to expand its real estate projects. With impressive sales bookings, the company’s performance remains optimistic and reflects their dedication to growth and development in the real estate sector. Their robust pipeline of development opportunities is likely to contribute to their continued success in the market, both in residential and commercial segments. As Macrotech marches forward with its ongoing and planned projects, it solidifies its position as a prominent player in the real estate industry.
