Bullish on housing demand, realty agency Macrotech Builders has acquired three land parcels within the Mumbai area and Pune through the April-June quarter to develop tasks with a income potential of greater than Rs 11,000 crore.
Mumbai-based Macrotech Builders, which markets its properties beneath the Lodha model, is buying land parcels by two routes — outright purchases and partnerships with landowners.
Giving an replace on enterprise growth, Macrotech Builders mentioned, “We added three tasks in MMR (Mumbai Metropolitan Area) and Pune having Rs 11,100 crore of GDV (gross growth worth), which is greater than 50 per cent of full-year steering of Rs 21,000 crore”.
The corporate, in its newest operational updates, didn’t point out whether or not it purchased outright or entered into joint growth agreements (JDAs) with landowners.Throughout 2023-24, the corporate added many new land parcels to construct housing tasks with a possible gross sales worth of over Rs 20,000 crore.
To develop enterprise amid sturdy housing demand, nearly all listed realty companies are aggressively buying land to create a sturdy launch pipeline.On different key operational efficiency parameters, Macrotech Builders clocked a 20 per cent progress in its gross sales bookings to Rs 4,030 crore within the first quarter of this fiscal yr towards Rs 3,350 crore within the year-ago interval.
Throughout 2023-24, Macrotech Builders registered a 20 per cent progress in its sale bookings (pre-sales) to a document Rs 14,520 crore in comparison with Rs 12,060 crore within the 2022-23 monetary yr.
The corporate has given a steering of reaching 21 per cent annual progress in sale bookings this fiscal to Rs 17,500 crore.As per the most recent operational replace, the collections from prospects rose 12 per cent to Rs 2,690 crore within the first quarter of this fiscal from Rs 2,400 crore within the corresponding interval of the earlier yr.
Macrotech Builders, which has an enormous presence in Mumbai Metropolitan Area (MMR) and Pune and simply entered Bengaluru, intends to launch 17 housing tasks this fiscal with a income potential of Rs 12,000 crore to spice up its gross sales bookings.The corporate will launch 10 new tasks and 7 new phases in present residential tasks throughout 2024-25 throughout the three cities the place it has a presence.
The full space to be launched is estimated at 10.1 million sq. ft with an estimated GDV of Rs 12,100 crore.
Macrotech Builders has delivered round 100 million sq. ft of actual property and is at present creating greater than 110 million sq. ft beneath its ongoing and deliberate portfolio.Throughout 2023-24, the corporate’s complete revenue rose to Rs 10,469.5 crore from Rs 9611.2 crore in 2022-23.
The corporate registered a three-fold leap in internet revenue to Rs 1,549.1 crore over the past fiscal towards Rs 486.7 crore in 2022-23.
