Lodha or Macrotech Developers Limited achieved its best ever annual pre-sales performance of Rs 12,064 crores showing a strong growth of 34 per cent on a year-on-year basis, the company announced through an exchange filing. In the fourth quarter the pre-sales was at Rs 3,025 crores. This was for the third consecutive quarter that the pre-sales were over Rs 3,000 crore.
Collection
The collections for the financial year 2023 were at Rs 10,606 crores, up by 23 per cent on a year-on-year basis. However, the collection for the fourth quarter in the last financial year was at Rs 2,933 crores up by 3 per cent on a year-on-year basis.
Business development
The company also said that it had added 12 new projects having approximately 14 million square feet of saleable area with GDV of Rs 19,800 crores across Mumbai, Pune and Bengaluru. It surpasses the FY23 guidance of Rs 15,000 crore. The company in the fourth quarter of FY23 saw an addition of one project of approximately Rs 2,000 crore for nearly 1.5 million square feet of area.
Net debt
The next debt of Lodha in the last financial year reduced by Rs 2,229 crores to Rs 7,071 crores. In the last quarters the net debt reduced by Rs 971 crores showing business strength to continue delivering on surplus operating cash even while growing.
