Macrotech Developers Limited - Operational Update for Q4 FY23 and FY2023

Macrotech Developers Limited has announced the key operational updates for FY23 and 4QFY23:

Pre-Sales: Lodha achieved its best ever annual pre-sales performance of INR 12,064 crores showing a strong growth of 34% on a YoY basis.

- Surpassed guidance of INR 11,500 crores despite over 200 bps increase in mortgage rates during the year

- 4QFY23 pre-sales stood at INR 3,025 crores - 3rd consecutive quarter of over INR 3,000 crores pre-sales.

Collections: Collections were INR 10,606 crores for FY23 up 23% on a YoY basis; 4QFY23 collections at INR 2,933 crores was up 3% on a YoY basis.

Business Development: FY23 has witnessed addition of 12 new projects having ~14 million sq. ft. of saleable area with GDV of INR ~19,800 crores across various micro-markets of MMR, Pune and Bengaluru.

- Surpassed FY23 guidance of INR 15,000 crores
- 4QFY23 saw addition of one project with a GDV of INR ~2,000 crores for ~1.5 million square feet of area. Business growth robustness continues to strengthen with significant number of land proposals under evaluation.

Net debt: On a full year basis, net debt reduced by INR 2,229 crores to INR 7,071 crores. Q4FY23 saw net debt reducing by INR ~971 crores showcasing business strength to continue delivering surplus operating cash even while growing.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 899.35 as compared to the previous close of Rs. 914.65. The total number of shares traded during the day was 20735 in over 1393 trades.

The stock hit an intraday high of Rs. 936.90 and intraday low of 886.50. The net turnover during the day was Rs. 18902733.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty Q4FY23 FY2023 OperationalUpdate