Macrotech Developers, also known as Lodha, on January 6 reported pre-sales of over ₹4,500 crore in the third quarter of the ongoing financial year 2024-25, a 32% YoY growth from over ₹3,400 crore during the same period last year.
The company said that the above pre-sales figure was the highest ever. On the other hand, collections in Q4FY25 stood at over ₹4,200 crore, 66% more than the over ₹2,500 crore collected during the same period last year.
In a regulatory filing on January 6, the company added one project in the Bengaluru real estate market, with a gross development value (GDV) of over ₹2,800 crore.
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“With this, we now have five locations in Bengaluru. These are expected to provide an opportunity for significant pre-sales growth in Bengaluru from next FY onwards,” the company said.
The company said that in the first nine months of FY25, it added eight new projects across the Mumbai Metropolitan Region, the Pune real estate market, and the Bengaluru real estate market, with a GDV of over 19,500 crore. Thus, we achieved our 90%+ full-year guidance, the company said.
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“During the quarter, we also acquired 33 acres of land for our Digital Infrastructure (warehousing and industrial) business in Delhi NCR. We also entered into an agreement with our JV partner to further increase our stake in the rental income (PropCo) from our Digital Infrastructure platform. This aligns with our planned strategy for calibrated growth in our annuity income thus de-risking our development business,” Lodha’s regulatory filing stated.
Net Debt
The company further added that its net debt has reduced by over ₹600 crore to over ₹4,300 crore on the back of strong collections. It is said that the debt-to-equity ratio is below the ceiling of 0.5x.
Bengaluru real estate market plans
Abhishek Lodha, Managing Director and CEO of listed real estate firm Macrotech Developers, also known as Lodha Group, in October 2024 said that the company had concluded its pilot phase in Bengaluru and is targeting a market share of 15% in the IT city by the end of the decade.
Also Read: Bengaluru real estate: Lodha Group targets 15% market share in the IT city by end of decade
The company’s pilot phase in “Bengaluru has been concluded successfully. As you are aware, when we entered Bengaluru in mid-2021, we had mentioned that we would be in the pilot phase for 2-3 years, during which we will focus on building a strong local operating team, understanding local operating nuances and making sure that we can showcase our delivery to consumers,” Lodha said during the Q2FY25 earnings call.
