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Macrotech Developers Q3 net rises to Rs 404 cr, income dips to Rs 1,902 cr

 Realty firm Macrotech Developers Ltd on Tuesday reported a 41 per cent increase in its consolidated net profit at Rs 404.98 crore for the quarter ended December. Its net profit stood at Rs 286.38 crore in the year-ago period, the company said in a regulatory filing. However, the total income fell to Rs 1,902.44 crore in the third quarter of this fiscal year from Rs 2,155.70 crore in the corresponding period of the previous year. Macrotech Developers, which is one of the leading real estate firms in the country, markets its properties under the Lodha brand. It focuses on Mumbai Metropolitan Region (MMR) and Pune -- the two biggest property markets in Maharashtra. It has recently forayed into the Bengaluru residential market.
24-01-2023
Bigul

Q3FY23 Quarterly Result Announced for Macrotech Developers Ltd.

 Macrotech Developers announced Q3FY23 results: Q3FY23: Pre-sales: Rs 3,035 crore (up 16% YoY) Embedded EBITDA margin on Pre-sales: 31% Revenues from ops.: Rs 1,775 crore (-14% YoY) Adjusted EBITDA: Rs 565 crore (-19% YoY) PAT adjusted for forex: Rs 296 crore (up 6% YoY) Commenting on the performance, Mr. Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, “Demand for quality housing from trusted brands continues to remain strong despite the increase seen in mortgage rates. This reinforces our view that the housing upcycle is long term in nature on the back of strong affordability, job creation and income growth. There is an increasing likelihood of mortgage rates peaking in the first half of 2023 and thereafter likely reduction in the rates from the second half of the year. This will only strengthen the consumer sentiments going ahead. Combined with the consolidation on the supply side and our strategy of capital light expansion through JDAs, we believe that we can deliver 20% CAGR in pre-sales and ~20% ROEs over medium term. We are elated to announce our strong performance on all parameters. First, Lodha achieved its best ever Q3 Presales performance at Rs 3,035 crore showing 16% YoY growth. This strong pre-sales performance has helped us achieve 9MFY23 Pre-sales of 9,039 crore - surpassing the pre-sales recorded in the entire full year of FY22. This makes us confident of surpassing our guidance for FY23 of Rs 11,500 crore pre-sales. Secondly, the company also added four new projects during the quarter in MMR & Pune aggregating to 5 mn square feet of saleable area and a combined GDV of Rs ~8,500 crore. With this we have already added Rs 17,800 crore of GDV in the 9MFY23 exceeding our full year guidance of Rs 15,000 crore. Finally, in spite of the heightened business development, we reduced our net debt by another Rs 753 crore during the quarter to Rs 8,042 crore. We are confident of achieving our leverage goals of net debt being lower than 0.5x of equity and 1x of operating cash flow, over the course of next six months. Our KPIs of pre-sales, embedded EBITDA margin, business development and ESG performance all performed ahead or in line with our expectations. Due to accounting standards, our revenue recognition and profitability is limited to projects which complete in each quarter and hence, the variability of these metrics is high. Strength of our performance enabled us to successfully consummate another QIP and thus achieving the required minimum public shareholding of 25%. The QIP saw the participation of both existing and new marquee investors such as UBS, NinetyOne (Investec), William Blair, MSIM, Capital Group, Nomura, Amundi, USS, ADIA, Nippon MF, Quant MF etc. The enhanced free float will enable the company to be part of important free float weighted indices in future and thus creating significant shareholder value.” Result PDF
24-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Press Release / Media Release

 In continuation of our letter of even date, regarding the submission of Consolidated and Standalone Unaudited Financial Results for the quarter and nine months ended December 31, 2022, we enclose herewith a copy of Press Release issued by the Company in this regard.
24-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Submission Of Unaudited Financial Results (Consolidated And Standalone) For The Quarter And Nine Months Ended December 31, 2022

 Unaudited Financial Results (Consolidated and Standalone) of the Company along with the limited review report of the Auditors for the quarter and nine months ended December 31, 2022 is enclosed herewith.
24-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

 Schedule of Analysts/Investors call
18-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31, 2022

 Macrotech Developers Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/01/2023 ,inter alia, to consider and approve unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2022
13-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

 Certificate under Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter ended 31st December, 2022
10-01-2023

Macrotech Q3 sales bookings up 16% at Rs 3,035 cr; pre-sales rise 62%

 Realty firm Macrotech Developers Ltd on Friday reported a 16 per cent growth in its sales bookings at Rs 3,035 crore in the third quarter of this fiscal on better housing demand. Macrotech Developers, which sells properties under the 'Lodha' brand, is one of the leading real estate developers of the country. In a regulatory filing, Macrotech Developers informed that the company has achieved its "best ever Q3 (October-December) pre-sales performance of Rs 3,035 crores showing a growth of 16 per cent on a YoY basis." During April-December period of 2022-23 fiscal, Macrotech Developers has clocked 62 per cent growth in its sales bookings to Rs 9,039 crore, from Rs 5,568 crore in the year-ago period. The total sales bookings in the first nine months of the current fiscal has already crossed pre-sales of Rs 9,024 crore achieved in the entire last financial year. "This puts us on track to surpass our full-year guidance of Rs 11,500 crore," the company said. The collections of money fro
06-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Disclosure Pursuant To Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('The Regulations')

 Key operational updates for 3QFY23
06-01-2023
Bigul

Macrotech Developers Ltd - 543287 - Closure of Trading Window

 The Trading Window will be closed for trading in the Company's equity shares from January 1, 2023 till the expiry of 48 hours after the financial results of the Company for the quarter and nine months ended December 31, 2022 are made public.
31-12-2022
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