Macrotech Developers Aims To Generate Surplus Cash In Q4, Reduce Debt By 11%: MD Abhishek Lodha
Macrotech Developers aims to generate surplus cash flow and reduce debt by 11% in Q4, targeting Rs 6,000 crore.30-01-2024
30-01-2024
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Advertisement of the Postal Ballot Notice30-01-2024
Macrotech Developers Ltd - 543287 - Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
Postal Ballot Notice29-01-2024
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
audio recording of the Analysts/Investors Conference Call for un-audited financial results for the quarter and nine months ended December 31, 202329-01-2024
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper advertisement of the un-audited financial results of the Company for the quarter and nine months ended December 31, 2023.29-01-2024
Q3FY24 Quarterly Result Announced for Macrotech Developers Ltd.
Realty company Macrotech Developers announced Q3FY24 results: Strong pre-sales at Rs 34.1 billion (+12% YoY) Adds 3 new projects for Rs ~60 billion GDV Strong Adj. EBITDA margins at ~37% Collection: Rs 25.9 billion (- 3% YoY) Revenues from ops.: Rs 29.3 billion (+65% YoY) Adj. EBITDA: Rs 10.8 billion (+90% YoY) PAT: Rs 5.7 billion (+179% YoY) Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers, said, “Strong underlying demand on the back of rising incomes, ample job creation as well as enhanced consumer confidence enabled us to achieve our best Q3 pre-sales performance of Rs 34.1 billion. In 9MFY24 our pre-sales stood at Rs 103 billion showing a robust 14% YoY growth and remains on track to deliver our full-year guidance of Rs 145 billion. New tailwinds for housing will further strengthen demand in 2024. The latest communication from global central banks suggests peaking of interest rates and a steady reduction in benchmark rates will commence in 2024. This will likely result in lower home loan rates in India, strengthening demand. We had an excellent response to our first launch in Bengaluru –the entire phase-1 inventory of the project was sold out within the first three days of the launch. The icing on the cake was that our superior quality product aimed at an upgrade in lifestyle, was priced at a substantial premium to the existing projects in the neighborhood. This success showcases the strength of the brand in new geographies and would help us build further momentum in pre-sales. Mumbai’s infrastructure upgrade is now becoming operational with the first mega project Mumbai Trans Harbour Link / Atal Setu getting operational earlier this month. We are going to witness a series of such transformational projects getting completed over the next 24 months significantly improving Mumbai’s commute times and leading to improvement in the attractiveness of the Mumbai Region as a place to live and work. In particular, our Palava City is all set to capitalize on several such infrastructure developments unleashing significant growth in both prices and volumes. During the quarter we have added three more projects for a 2 million square feet area with a GDV of Rs 60 billion taking our 9MFY24 business development to Rs 203 billion – already surpassing our full-year guidance of Rs 175 billion. A substantial high pace of business development showcases the attractiveness of the brand Lodha to landowners leading to a burgeoning pipeline of new attractive opportunities that will enable us to sustainably grow our business in the future. To capitalize on some of these opportunities in the future while keeping our deleveraging journey intact, our board has approved to have enablers in place for raising capital to be pursued if needed. It is heartening to note that we continue to grow pre-sales and add a substantial number of new projects while sticking to our deleveraging path. Despite significant business development, the net debt for the company remained largely stable during the quarter at Rs 67.5 billion. Reflecting the strengthening balance sheet, our exit cost of debt for the quarter further came down by over 10 bps to ~9.5%. We also exited our UK investments with the receipt of the entire balance as per our earlier communication.” Result PDF29-01-2024
Macrotech Developers Results Earnings Call for Q3FY24
Conference Call with Macrotech Developers Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.29-01-2024
Macrotech Developers falls 2% amid profit booking after strong Q3 show
The real estate company also reported its best ever Q3 pre-sales performance at Rs 3,410 crore, a 12 percent on year growth29-01-2024
Macrotech Developers Q3 profit rises 25 per cent to 505 crore, plans to raise up to 5,000 crore
Mumbai-based Macrotech Developers is one of the leading real estate developers in the country28-01-2024
Macrotech Developers Ltd - 543287 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation27-01-2024