Macrotech Developers Q2 Results: Profit Up 108% , Achieves 47% Pre-Sales Guidance

Mumbai-based Macrotech Developers Ltd., which sells properties under the Lodha brand, saw its net profit for the September quarter increase 108% to Rs 423 crore, according to an exchange filing on Friday.

Its revenue jumped 50% to Rs 2,626 crore during the quarter.

• Revenue up 50% to Rs 2,626 crore vs Rs 1,750 crore

• Ebitda up 69% to Rs 705 crore vs Rs 416 crore

• Margin expands to 26.8% versus 23.8%

• Net profit up 108% to Rs 423 crore vs Rs 203 crore

• Pre-sales stood at Rs 4,290 crore, up 21% YoY

• Collections stood at Rs 3,070 crore, up 11% YoY

The company added two projects each in Pune and Bengaluru with GDV (Gross Development Value) of Rs 1,700 crore and Rs 3,800 crore respectively. Overall business development for the 1st half of the fiscal stands at Rs 16,600 crore, which is >75% of full year guidance of Rs 21,000 crore.

• Achieved 47.4% pre-sales guidance of Rs 17,500 crore

• Achieved 27.7% operating cash flow guidance of Rs 6,500 crore

• Achieved 79.0% new project additions guidance of Rs 21,000 crore

• Net debt/equity stood at 0.27x under the ceiling level of 0.5x level

Shares of Macrotech Developers closed 1.53% higher at Rs 1,081.50 apiece ahead of the results announcement, as compared with a 0.83% decline in the benchmark Sensex.