Macrotech Developers Ltd (Formerly known as Lodha Developers) reported its best ever Oct-Dec pre-sales, as they rose by over 16% on year to 30.35 bln rupees, the company said in an exchange filing.
Collections of the Mumbai-based real estate firm increased 26.1% year on year to 26.82 billion rupees in the December quarter.
For the first nine months of the current financial year, the company's pre-sales increased 62% on year to 90.40 bln rupees.
'This puts us on track to surpass our full year guidance of INR 11,500 crores (115.00 bln rupees)', the filing said.
In addition, the company's net debt decreased from 98.96 billion rupees in the same period last year to 80.42 billion rupees this year.
According to an update on business growth, the company has added four new projects totalling around 5 million square feet of sellable space and an estimated gross development value of 85 billion rupees.
