Macrotech Developers Limited of Lodha on Saturday recommended a final dividend of ₹ 2 per share, the company announced through an exchange filing. The recommended price of ₹ 2 is 20 per cent of the face value of ₹ 10.
The dividend will be paid to the shareholders on the record date to be determined by the company after approval of the shareholders at the ensuing 28th Annual General Meeting.
The company also announced that it will issue bonus equity shares equal to the number of existing shares upon approval from the shareholders through a postal ballot.
Lodha earnings Q4
Lodha on Saturday reported a drop in total income to ₹ 3,271.71 crore and a jump in net profit to ₹ 746.18 crore.
Lodha yearly and quarterly performance
Lodha achieved its best ever annual pre-sales performance of ₹ 12,064 crores showing a strong growth of 34 per cent on a year-on-year basis. In the fourth quarter the pre-sales was at ₹ 3,025 crores. This was for the third consecutive quarter that the pre-sales were over ₹ 3,000 crore.
The collections for the financial year 2023 were at ₹ 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 ₹ 2,933 crores up by 3 per cent on a year-on-year basis.
Net debt
The net debt of Lodha in the last financial year reduced by ₹ 2,229 crores to ₹ 7,071 crores. In the last quarters the net debt reduced by ₹ 971 crores showing business strength to continue delivering on surplus operating cash even while growing.
Lodha shares
The shares of Macrotech Developers Limited on Friday close at ₹ 913, down by 3.07 per cent.
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