Macrotech builds up

Macrotech Developers, better recognised as Lodha, announced its operational updates for Q4FY24.

The company said that on the Pre-sales front, it logged in a pre-sales of Rs.4230 crore, up 40% (YoY), which it said was its best quarterly performance ever while annual pre-sales were at Rs.14520 crore, its best ever annual presales performance, thus meeting its guidance of delivering consistent and predictable 20% growth.

On the collections front, they came in for the quarter at Rs.3510 crore, up 20% and for FY24, it was at Rs.11260 crore.

Its Business development during FY24 – it added new projects having cumulative GDV of Rs.20,300 crore across various micro-markets of MMR, Pune and Bengaluru, exceeding its guidance of Rs.17,500 crore.

On its net debt, the company said that on the back of strong operating cash flow generation and recently concluded equity raise, its net debt further reduced to Rs.3010.

The stock price has reacted positively to this news, opening almost 1.5% higher at Rs.1151 and rising further to an intraday high at Rs.1160.30. Its 52-week high is at Rs.1277.45.