Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Outcome of Analyst/ Investors Conference Call (Earnings Call) for the quarter ended September 30, 2023.30-10-2023
30-10-2023
Macrotech Developers Results Earnings Call for Q2FY24
Conference Call with Macrotech Developers Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.30-10-2023
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Copy of newspaper publication of unaudited financial results for the quarter and half year ended September 30, 2023.30-10-2023
Q2FY24 Quarterly Result Announced for Macrotech Developers Ltd.
Realty company Macrotech Developers announced Q2FY24 results: Pre-sales increased by 12% YoY, reaching Rs 35.3 billion. Collection saw a 16% YoY growth, totaling Rs 27.5 billion. Revenues from operations slightly decreased by 0.9% YoY to Rs 17.5 billion. Adjusted EBITDA amounted to Rs 5.5 billion, reflecting a 5.2% YoY increase. Profit after tax (PAT) declined by 42.4% YoY to Rs 2.1 billion. Two new projects with a Gross Development Value (GDV) of approximately Rs 23 billion have been added. Net debt has decreased by Rs 5.4 billion, bringing it to Rs 67.3 billion. Strong adjusted EBITDA margins are at approximately 32%. Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers said, “We achieved our best ever quarterly pre-sales performance at Rs 35.3 billion showing 12% YoY growth despite the quarter being the seasonally weakest. Our ‘for-sale’ business has shown a stellar 20% YoY growth for the quarter. With this strong performance, we have achieved pre-sales of Rs 68.9 billion in H1FY24, our best-ever 1st half in terms of Pre-sales. The icing on the cake is that this performance has been delivered despite no new location launches in H1. This showcases our ability to consistently grow our pre-sales predictably with low variability without being dependent on any particular single location market segment or project. On the ground, demand conditions continue to strengthen on the back of strong affordability and consumer confidence. Persistent consumer desire to own quality homes with superior sets of amenities from branded developers continues to drive consolidation benefiting branded players like us. Intense competition among mortgage providers coupled with RBI pause and the expected downward trajectory for the rate cycle in 2024 means that we have already seen the peak of mortgage rates. Likely reduction in mortgage rates as well as the government’s affordable housing incentives will act as a further tailwind for the demand especially for the affordable segment where we have a significant presence. During the quarter we have added two more projects for a 1.2 million square feet area with a GDV of Rs 23 billion. With this, we have added Rs ~143 billion of GDV which is over 80% of our full-year guidance of Rs 175 billion of GDV addition. On the back of the strong attractiveness of our brand to land owners and our ability to turn around land assets into cash faster, we have been able to add new projects worth over Rs 480 billion since our IPO following a “supermarket” strategy in each micro-market. Brand Lodha is the most attractive partner to do JDA for landowners who want to maximize the NPV of their land asset, keeping our business development pipeline robust. The large number of projects tied up across several micro-markets of the cities that we operate in provide us the opportunity to grow on a granular basis predictably. Lodha continues to focus on reducing leverage along with strong business development and is on track to achieve its goal of net debt: equity <0.5x and net debt <1x operating cash flow during the year. During the quarter, the company reduced its net debt by Rs 5.4 billion to Rs 67.3 billion. Recognizing the improving business fundamentals as well as the strength of its balance sheet, Crisil has upgraded the credit rating of the company to ‘A+/Stable’. Our exit cost of debt for the quarter stands at 9.6% - among the lowest in the industry.” Result PDF30-10-2023
Macrotech Developers rides higher on Q2 profit
The real estate player reported a consolidated net profit of Rs 202.8 crore in the September quarter of FY24 against a loss of Rs 932.9 crore in the year-ago period30-10-2023
Macrotech Developers posts Rs 202.8 crore profit in Q2
Total income declined marginally to Rs 1,755.1 crore in the July-September period of the 2023-24 fiscal from Rs 1,761.2 crore in the corresponding period of the previous year28-10-2023
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor presentation on financial results for September 30, 2023.28-10-2023
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press release on unaudited financial results for the quarter ended September 30, 202328-10-2023
Macrotech Developers Ltd - 543287 - Submission Of Un-Audited Financial Results (Consolidated And Standalone) For The Quarter And Half Year Ended September 30, 2023
Unaudited Financial Results for September 30, 202328-10-2023
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
Sale of 100% stake in Wholly Owned Subsidiary26-10-2023