Macrotech Developers Limited (Lodha) , real estate developer, announced its financial results for the quarter ended June 30, 2023, the company on Thursday announced through an exchange filing.
The company reported its best ever first quarter pre-sales performance at ₹33.5 billion alongside a very strong business development of approx ₹120 billion.
Q1FY24 Operational & Financial Overview
Pre-sales: ₹33.5 billion (+17% YoY)
Embedded EBITDA Margins on Pre-sales: Approx. 30%
Revenues from operation: ₹16.2 billion
Adjusted EBITDA: ₹4.6 billion
PAT: ₹1.8 billion
“It is heartening to note that Q1FY24 has turned out to be our best ever 1st quarter pre-sales performance. Our pre-sales for the quarter at INR 33.5 billion grew by 17%. Our ‘for-sale’ business has shown a stupendous growth of 30%. This reinforces our belief in the sustainable nature of the strong housing demand. With the likelihood of downward journey of interest rates in next few quarters after witnessing a pause by the RBI, we see momentum for housing continuing to strengthen," said Abhishek Lodha, MD & CEO, Macrotech Developers Ltd.
Macrotech Developers Limited Shares
The shares of Macrotech Developers on Friday at 11:20 am IST were at ₹740, up by 1.73 percent.
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