Listed real estate developer Macrotech Developers, which markets its properties under the Lodha brand, on October 4 reported a 21% increase in pre sales bookings to record ₹4,290 crore during the July-September quarter compared to ₹3,530 crore in the same period last year.
The collections of funds stood at ₹3,070 crore in the second quarter of this fiscal year, up 11% from the year-ago period.
“We achieved our best-ever quarterly pre-sales of ₹42.9 billion ( ₹4,290 crore) showing growth of 21% year-on-year despite the inauspicious ‘Shradhh’ period falling in September this fiscal year (vs October in FY24),” the company said in a regulatory filing.
The company said collections of funds stood at ₹3,070 crore during the same period, up 11% from over ₹2,700 crore during the same period last year.
Also Read: Not in ‘rat race’ to be top builder in terms of sale bookings: Abhishek Lodha
“We added four projects in Pune and Bengaluru. We continue to see a strong pipeline of business development opportunities for our residential business,” the company said in the regulatory filing.
The company said it acquired 45 acres of land for its digital infrastructure (warehousing and industrial) business in Chennai and entered into an agreement to increase its stake in the rental income
“We continue to see further opportunities to scale our digital infrastructure portfolio,” the company said
The company has delivered around 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.
The company has a presence in the Mumbai Metropolitan Region (MMR) and Pune. It has also forayed into the Bengaluru real estate market.
Also Read: Buying a property is better than renting one: Abhishek Lodha
Lodha plans to enter new city
Lodha Developers is also considering a few new cities that it plans to enter and is expected to take a decision on the next city in the latter half of FY25, Abhishek Lodha, Managing Director and Chief Executive Officer of Macrotech Developers had said in August 2024.
Also Read: Macrotech Developers plans to enter a new city, may take a decision by latter half of FY25
The company on July 30 had reported a profit after tax (PAT) of ₹480 crore, an increase of 186% year-on- year (YoY) for the first quarter (Q1) of FY 25. It also reported pre- sales of ₹4,300 crore in the Q1 FY25, an increase of 20% YoY.
