Macrotech Developers' Sale Bookings Rise 14% In April-December On Strong Demand
Macrotech Developers has set a target of achieving sale bookings of Rs 14,500 crore during the 2023-24 fiscal.
Realty firm Macrotech Developers has sold properties worth Rs 10,300 crore during April-December period this fiscal, up 14% annually, driven by a surge in housing demand.
The company's sale bookings stood at Rs 9,040 crore in the corresponding period of the previous financial year.
Macrotech Developers, which sells properties under Lodha brand, is one of the leading real estate developers in India. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune. It has recently entered Bengaluru market.
Mumbai-based Macrotech Developers has set a target of achieving sale bookings of Rs 14,500 crore during the 2023-24 fiscal as against Rs 12,060 crore in the previous year.
In an interview with PTI in October, Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha had mentioned about the company's aggressive launch pipeline for the second half of this fiscal to boost growth in sales.
"We plan to launch 8 million square feet area in the second half of this fiscal with an estimated sales value of around Rs 12,000 crore," Lodha had said, while exuding confidence of meeting the sales guidance.
Last week, Macrotech Developers reported its sale bookings at Rs 3,410 crore during the October-December period of this fiscal, up 12 per cent year-on-year.
The company had achieved a sale bookings of Rs 3,040 crore in the year-ago period.
Macrotech Developers highlighted that it has achieved its best ever third quarter pre-sales performance.
On the third quarter performance, Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumers' desire to own a quality home early in their life journey and upgrade their lifestyle continues to strengthen."
"On the back of steady rise in income levels and ample job creation this desire is translating into robust demand for high quality homes," Lodha observed.
Macrotech Developers, erstwhile Lodha Developers, has delivered more than 95 million square feet of real estate and is currently developing over 110 million square feet under its ongoing and planned portfolio.
The Group has over 4,300 acres of land beyond its ongoing and planned portfolio. The land bank will be utilised in developing residential, commercial and industrial and logistics projects.
