Macrotech Developers Limited - Q3FY23 Operational Update

Macrotech Developers Limited has announced key operational updates for 3QFY23:

Pre-Sales: Lodha achieved its best ever Q3 pre-sales performance of INR 3,035 crores showing a growth of 16% on a YoY basis.

- With this our 9MFY23 pre-sales are INR 9,039 crores, which has already surpassed presales of the entire last financial year (FY22) registering 62% YoY growth. This puts us on track to surpass our full year guidance of INR 11,500 crores.

Collections: Collections were INR 2,682 crores in 3QFY23 up 26% on a YoY basis.

Business Development: We added 4 new projects having ~5 million sq. ft. of saleable area with GDV of INR ~8,500 crores across various micro-markets of MMR and Pune. We thereby have already added ~INR 17,800 crore of GDV so far exceeding our full year guidance of INR 15,000 crores. This reflects availability of land for Lodha in the targeted micro-markets and landowners desire to partner with us to get the best NPV of cash flows on their land. This in turn provides growth visibility for us.

Net debt: Net debt reduced by ~INR 753 crores to INR 8,042 crores.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1077.10 as compared to the previous close of Rs. 1071.70. The total number of shares traded during the day was 4891 in over 790 trades.

The stock hit an intraday high of Rs. 1094.05 and intraday low of 1069.60. The net turnover during the day was Rs. 5282927.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty OperationalUpdate Q3FY23 9MFY23 PreSales Collections Debt