Macrotech arm Lodha prepays $170 mn debt out of total $225 million
Lodha Developers International Ltd, Mauritius has prepaid $170 million (approx. Rs 1,298 crore) of debt after recording better sales performances in its two projects in London.
Macrotech Developers Ltd - 543287 - Early Redemption Of US$ 170,000,000 Out Of Outstanding US$ 225,000,000, 14% Senior Secured Notes Due 2023 By Lodha Developers International Limited, Mauritius, Wholly Owned Subsidiary Of The Company
In continuation of our letter dated March 1, 2022, we wish to inform you that our wholly-owned subsidiary, Lodha Developers International Limited, Mauritius has given an enclosed notice to Singapore Stock Exchange regarding confirmation of redemption of Notes for principal amount of US$ 170,000,000 (United States Dollars One Hundred Seventy Million) as per the terms of the Indenture. Macrotech Developers Ltd - 543287 - Early Redemption Of US$ 170,000,000 Out Of Outstanding US$ 225,000,000, 14% Senior Secured Notes Due 2023 By Lodha Developers International Limited, Mauritius, Wholly Owned Subsidiary Of The Company
We wish to inform you that our wholly-owned subsidiary, Lodha Developers International Limited, Mauritius has given an enclosed notice to the Note holders, the Trustee and Singapore Stock Exchange of its US$ 225,000,000, 14% Senior Secured Notes due 2023 (the 'Notes') for early redemption of principal amount of US$ 170,000,000 of the Notes on March 12, 2022 as per the terms of the Indenture. Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analysts/Institutional Investors call is enclosed herewith Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Credit Rating
Pursuant to Regulation 30(6) read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulations'), we would like to inform that CRISIL Ratings Limited ('Credit Rating Agency') has rated the Bank Loan Facilities of the Company vide their letter dated February 9, 2022 Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
Submission of Monitoring Agency Report for the Quarter ended December 31, 2021. Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Schedule of Analysts/Institutional Investors call is enclosed herewith Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
A copy of the transcript of the Company's Q3 FY22 earnings conference call held on January 27, 2022 is enclosed herewith Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper publication of the unaudited financial results for quarter and nine months ended December 31, 2021 Q3FY22 Quarterly Result Announced for Macrotech Developers Ltd.
Realty company Macrotech Developers declares Q3FY22 result: Sales of Rs. 4,500 + cr. India pre-sales of INR 2,608Cr., highest in last 12 quarter +40% YoY and +30% QoQ Additionally, UK projects achieved best ever pre-sales performance at GBP 191 mn (Rs 1,910 cr.) Signed up 6 JDAs for 4.8 msf amounting to INR 10,000Cr. GDV during the quarter Strong Adjusted EBITDA margin at 34%; PAT margin at ~13% Net Debt down to INR 9,896 crores Further reduced average cost of borrowing by ~30 bps Total pre-sales of ~INR 4,518 cr. - India Pre-sales at INR 2,608 crores (up 40% YoY) and UK pre-sales of GBP 191 milllion (~INR 1,910 cr.) Collections at INR 2,127 crores (up 44% YoY) Revenues from operations at INR 2,059 crores (up 36% YoY) Adjusted EBITDA at INR 698 crores (up 55% YoY) Strong Adjusted EBITDA margin at 34%; PAT Margin at 13% PAT adjusted for forex stood at INR 279 crores (124% YoY) Commenting on the performance during Q3FY22, Mr. Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, “Housing market has seen a remarkable turnaround in last 12 months. The fact that this strong performance comes on the back of an equally strong base of the previous quarter as well as the same quarter in FY 21 showcases that the recovery in housing market has taken root and the multi-year up-cycle in housing market is well underway. We are witnessing strong demand across our portfolio and at all price points. On the supply side, consolidation is accelerating at a great pace creating a goldilocks situation for strong brands like us. The accelerating consolidation in the market has presented to us several lucrative opportunities to add new projects across MMR & Pune through the capital light JDA route. To capture these opportunities, the company successfully completed its maiden QIP offering and raised equity of INR 4,000 crores from marquee global and Indian institutional investors. During the quarter, the company signed on 6 more JDAs for ~4.8 million square feet with INR ~10,000 crores GDV. Since our IPO (April 21), we have now added 11 JDA project totaling for ~8.8 million square feet with GDV potential of INR ~14,600 crores, which gives us significant visibility of future growth. We are focused on this capital light growth model - delivering scale with a prudent balance sheet. Strong operating performance and robust free cash flow will enable us to continue our de-leveraging journey. Our UK business continues to perform ahead of expectations and we are pleased that the USD 225 million bond will be pre-paid in the near future from the sales at our One Grosvenor Square development, well ahead of the bond maturity. While Covid has affected India in January, it is heartening to note that the wave seems to be subsiding and global experts are envisaging that Covid-19, while endemic, is likely to become far less disruptive. If this plays out, we expect housing demand to further strengthen during the course of the next 12 months on the back of strength in the Indian economy and supportive government policies for housing. ” Result PDF