Macrotech Developers Ltd - Q2 FY24 Key Operational Updates

Macrotech Developers Limited has announced key operational updates for 2QFY24:

a) Pre-Sales: Lodha achieved its best ever quarterly pre-sales performance of INR 35.3 bn in Q2, which is otherwise seasonably the weakest quarter of the year. With this company has achieved 48% of its FY24 pre-sales guidance (H1: 69 bn, FY24 guidance: 145 bn) despite no new locations being launched in H1. With festive season commencing shortly and strong launch pipeline for H2 with launches of c. 7 new locations, the company is on target to meet its full-year guidance.

b) Collections: Collections were INR 27.5 bn for 2QFY24.

c) Business Development: We added 2 new projects totaling ~1.2 million sq. ft. of saleable area and INR ~23 bn GDV. With this, Lodha has already achieved INR ~143 bn of new business addition in 1HFY24, achieving >80% of FY24 guidance.

d) Net debt: Our net debt reduced by INR 5.4 bn during the quarter to INR 67.3 bn. We remain on the path to achieve our full year guidance of getting our net debt to below 1x of OCF or 0.5x of equity, whichever is lower.



Shares of Macrotech Developers Limited was last trading in BSE at Rs. 749.90 as compared to the previous close of Rs. 788.40. The total number of shares traded during the day was 106812 in over 4572 trades.

The stock hit an intraday high of Rs. 791.95 and intraday low of 745.00. The net turnover during the day was Rs. 80669646.00.

Source : Equity Bulls

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MacrotechDevelopers INE670K01029 LODHA Realty Q2FY24 KeyOperationalUpdates