The real estate developer reported 135.7% surge in consolidated net profit to Rs 310.55 crore in Q4 FY21 from Rs 131.74 crore recorded in Q4 FY20.
Revenue from operations declined 20% year-on-year to Rs 2533.56 crore in Q4 FY21 from Rs 3169.62 crore in Q4 FY20. Profit before tax surged to Rs 554.50 crore in Q4 FY21 from Rs 51.49 crore in Q4 FY20.The net profit tumbled 94.48% to Rs 40.15 crore in the year ended March 2021 (FY21) compared with Rs 727.56 crore in the year ended March 2020 (FY20). Revenue from operations slipped 56.2% to Rs 5448.57 crore in FY21 over FY20.
Shares of Macrotech Developers closed 0.28% higher at Rs 646.70 on BSE.
Macrotech Developers, formerly known as Lodha Developers, is one of the largest real estate developers in India. The core business of the company is residential real estate developments with a focus on affordable and mid-income housing. It also develops commercial real estate, including as part of mixed-use developments in and around core residential projects.
Shares of Macrotech Developers entered the stock exchanges on 19 April 2021. The stock was listed at Rs 439, a discount of 9.67% to the IPO price of Rs 486. The price band for the IPO was set at Rs 483-486 per share.
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