Macrotech Developers Q4 pre-sales rises 37% YoY

The realty major Lodha Group, listed as Macrotech Developers after the company reported strong operational update for Q4 FY22.

The realtor's pre-sales for Q4 FY22 stood at Rs 3,456 crores in India, rising 37% year on year despite strong base of previous year. Sales in Q4FY21 were supported by the stamp duty waiver in Maharashtra. Lodha said it reported its best ever quarterly performance in Q4 FY22.

Meanwhile, the company's UK investments had pre-sales of GBP 173 million (approximately Rs 1,700 crore) in the quarter.

For FY22, the company had pre-sales in India of Rs 9,024 crores, rising 51% year on year. Macrotech said it met its FY22 guidance of Rs 9,000 crore in spite of the significant external challenges faced during the financial year.

The real estate developer's collections grew by 36% year on year to Rs 2,843 crores in Q4 FY22. Meanwhile, debt for India business has reduced to Rs 9,310 crore in Q4 FY22 from 9,896 crore registered in Q3 FY22 and Rs 16,075 crore posted in Q4 FY21.

Lodha Group is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.

The company's consolidated net profit jumped 23.6% to Rs 286.38 crore on a 36% jump in net sales to Rs 2,059.44 crore in Q3 FY22 over Q3 FY21.

Shares of Macrotech Developers were trading 0.82% higher at Rs 1,173.85 on BSE.

Powered by Capital Market - Live News