Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
a copy of the transcript of the Company's Q2 FY23 earnings conference call held on November 2, 2022 is enclosed herewith08-11-2022
08-11-2022
Macrotech Developers to launch 16 projects worth Rs 10,300 crore in H2 FY23
Realty firm Macrotech Developers plans to launch 16 new projects in the second half of this fiscal with an estimated sales potential of Rs 10,300 crore as it seeks to tap rising housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making an entry into the Bengaluru market with one housing project. According to an investor's presentation, the company launched a 4.4 million square feet area during the April-September period of this fiscal with an estimated sales booking of Rs 8,480 crore. For the second half of this fiscal, Macrotech Developers has lined up new launches of 16 projects, comprising a 7.3 million square feet area with an estimated sales value of Rs 10,300 crore. These projects would be a mix of fully-owned and joint development with landowners. In an interview with PTI last week,08-11-2022
Macrotech Developers looking to sell mall, office space: MD Abhishek Lodha
Realty firm Macrotech Developers plans to sell a shopping mall near Mumbai and 1.5-2 lakh square feet office space by March as part of the company's strategy to monetise non-core assets, its MD and CEO Abhishek Lodha said. He did not disclose the deal value of these 6.5-7 lakh square feet of commercial space. But, market sources said the value of these assets could be around Rs 800 crore. Mumbai-based Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making entry into Bengaluru market with one housing project. In an interview with PTI, Lodha sounded bullish on growth potential of India's primary residential market and highlighted that demand has been strong despite rise in interest rates on home loans following the RBI's move to hike repo rate by 190 basis points since May this year. During April-Septembe06-11-2022
Neutral Macrotech Developers; target of Rs 926: Choice Equity Broking
Choice Equity Broking recommended Neutral rating on Macrotech Developers with a target price of Rs 926 in its research report dated November 04, 2022.04-11-2022
Buy Macrotech Developers; target of Rs 1530: Motilal Oswal
Motilal Oswal is bullish on Macrotech Developers recommended buy rating on the stock with a target price of Rs 1530 in its research report dated November 01, 2022.03-11-2022
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper publication of unaudited financial results for quarter and half year ended September 30, 2022 is enclosed herewith03-11-2022
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
We wish to inform you that the Company has allotted 77,944 equity shares of Rs.10/- each, on November 02, 2022 pursuant to the Macrotech Developers Limited - Employee Stock Option Plan 2021 & Macrotech Developers Limited - Employee Stock Option Scheme 2021 - II Kindly take the above information on record.03-11-2022
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
In compliance with Regulation 30 of the Regulations, the audio recording of the Analysts/Investors Conference Call held on November 2, 2022, is hosted on Company''s website i.e., www.lodhagroup.in02-11-2022
Q2FY23 Quarterly Result Announced for Macrotech Developers Ltd.
Realty company Macrotech Developers announced Q2FY23 results: Pre-sales: Rs 3,148 crore (up 57% YoY) Collection: Rs 2,375 crore (up 24% YoY) Revenues from ops: Rs 1,765 crore (-17% YoY) Adjusted EBITDA: Rs 525 crore (-33% YoY) PAT (excluding exceptional items & forex): Rs 367 crore (up 28% YoY) Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers Ltd, said, “We achieved our best Q2 Pre-sales performance at Rs ~3,148 crores, showing 57% YoY growth. With this strong performance, we have achieved pre-sales of Rs 6,004 crore in H1FY23, our best-ever 1st half in terms of pre-sales. It is even more heartening to note that we achieved our second Rs 3,000-crore performance within the 2022 calendar year despite this being the seasonally weakest quarter due to monsoons and an inauspicious period (Shradh/ Pitru Paksha). What is truly remarkable is that our strong performance in H1FY23 has been achieved despite rising home loan rates. This evidences the strength of housing demand from tier-1 developers in India and indicates the start of a long-term upcycle for quality housing. The festive season has begun strongly and the early trends suggest a robust second half of the year. We are taking one more step forward this quarter by providing an estimated EBITDA margin on the presales done during the quarter. The same for this quarter stands at ~33%^. We believe this will bring much-needed transparency for stakeholders and provide high level of understanding around not just pre-sales but also the underlying earnings from them. During the quarter, we added four projects for a 2.2 million square feet area, with a GDV of Rs 3,100 crore. With this, we have added ~Rs 9,300 crore of GDV, which is ~62% of our full-year guidance of ~Rs 15,000 of GDV addition. The consolidation in the market continues at an accelerated pace, providing us with significant JDA opportunities across all our markets of interest. On the back of the strong attractiveness of our brand to land owners and our ability to turnaround land assets into cash rapidly, our robust business development pipeline continues to strengthen with each passing quarter. 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 quarter, the company reduced its net debt to Rs 8,795 crore. The company has also been able to reduce its interest cost to 9.9%—a ~60 bps reduction in H1FY23, in spite of a significant 190bps increase in benchmark policy rates. Recognising the improving business fundamentals as well as the strength of its balance sheet, ICRA assigned the credit rating of the company to ‘A+/Stable’ in October, which is one notch above our current rating. This should further enable us to better manage our cost of funding in challenging times of rising interest rate regime. Further, we have fully repaid the $225 million bonds 6 months ahead of their scheduled maturity and have no further obligation on the Indian balance sheet in relation to UK investment. In addition, this quarter saw repatriation of ~Rs 100 crore from the UK to India. Despite the challenging economic environment in the UK, we expect to further repatriate ~Rs 1,000 crore from the UK to India in CY2023, which will strengthen the cash flows of the Indian business. With this repatriation, we will have no further investment outside the country and will solely focus on capitalising on the immense growth opportunities that we see in India for the next 10-15 years.” Result PDF02-11-2022
Macrotech posts Rs 933-cr loss in Q2 on provisions made for UK biz
Realty firm Macrotech Developers Ltd on Tuesday reported a consolidated net loss of Rs 933 crore for the quarter ended September due to provisions made for loan given to its British arm for development of projects. Macrotech Developers, which markets its properties under the Lodha brand, is one of the leading real estate developers in the country. Its net profit stood at Rs 223.36 crore in the year-ago period, according to a regulatory filing. The profit (excluding exceptional item and forex) stood at Rs 367 crore, up 28 per cent year-on-year. The company's total income also fell to Rs 1,761.23 crore in the second quarter of this fiscal year from Rs 2,137.76 crore in the corresponding period of the previous year. Macrotech suffered a loss because of an exceptional item of Rs 1,177 crore. The Group had given loans to Lodha Developers UK Ltd and its subsidiaries from time to time for UK projects and has accrued interest thereon, Macrotech Developers said. "The current economic...01-11-2022