Macrotech to Invest ₹3,500-4,000 Cr in Land for Housing Projects

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Synopsis:

Macrotech Developers to invest ₹3,500-4,000 crore this fiscal in land acquisition for housing projects. The firm targets a mix of owned land and joint development agreements. It aims for 21% growth in sales bookings, launching 17 projects with ₹12,000 crore revenue potential.

Macrotech Developers News Today

Realty firm Macrotech Developers Ltd, renowned for its Lodha brand properties, is set to invest ₹3,500-4,000 crore this fiscal. This substantial investment aims to acquire new land parcels for housing projects, both outright and through joint development agreements (JDAs).

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Acquisition Strategy and Financials

Macrotech Developers plans a balanced mix of 60% owned land and 40% from JDAs. The company added over ₹20,000 crore in Gross Development Value (GDV) in the previous fiscal year, exceeding its guidance. Sales bookings surged by 20% to ₹14,520 crore.

Growth Targets and Project Launches

Guiding for a 21% annual growth in sales bookings, Macrotech Developers plans to launch 17 housing projects, anticipating a revenue potential of ₹12,000 crore. This includes the launch of 10 new projects and seven new phases across Mumbai, Pune, and Bengaluru.

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Financial Performance and Deliverables

Despite a recent decline in consolidated net profit, Macrotech Developers recorded a three-fold jump in profit during the previous fiscal year. The company aims to deliver over 10,000 apartments in 2024–25, reinforcing its position in the real estate market.

Optimistic Outlook

Macrotech Developers is bullish on the housing segment's demand and plans to increase its investment in construction to over ₹5,000 crore. With a robust portfolio and strategic expansion, the company remains poised for sustained growth in the real estate sector.

Sources:

https://www.cnbctv18.com/real-estate/macrotech-developers-to-invest-%E2%82%B93500-4000-crore-this-fiscal-to-acquire-land-parcels-19411596.htm

https://www.business-standard.com/companies/news/macrotech-developers-to-invest-rs-3-500-4-000-cr-to-acquire-land-parcels-124051400831_1.html

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