Macrotech Buys 10 Land Parcels In FY25 To Build Rs 24,000 Crore Worth Of Housing Projects
The real estate firm's sale bookings grew 21% last fiscal to a record Rs 17,630 crore.
Real estate firm Macrotech Developers Ltd. acquired 10 land parcels last fiscal to develop housing projects with a total sales value of nearly Rs 24,000 crore, as it seeks to expand business amid strong demand.
Listed entity Macrotech, which sells properties under Lodha brand, had given a guidance for 2024-25 that it would be acquiring land parcels having a revenue potential of Rs 21,000 crore.
To expand its business, the company acquires land parcels outright as well as forms partnerships with landowners to develop housing projects.
In its latest operational update, Macrotech said it has acquired two new land parcels in Pune with a gross development value of Rs 4,300 crore.
During the full 2024-25 fiscal, the company acquired 10 land parcels with around Rs 23,700 crore of GDV across the Mumbai Metropolitan Region, Bengaluru and Pune, surpassing its full year guidance of Rs 21,000 crore.
Out of the total 10 land deals, the company did not mention the number of outright purchases.
On other key operational metrics, Macrotech reported a 14% increase in sales bookings to a record Rs 4,810 crore in the fourth quarter of the last fiscal. Its sales bookings stood at Rs 4,230 crore in the year-ago period.
Macrotech's sale bookings grew 21% last fiscal to a record Rs 17,630 crore from Rs 14,520 crore in 2023-24 financial year.
Macrotech Developers is one of the leading real estate developers in the country. It has a significant presence in the MMR, Pune and Bengaluru housing markets. Besides residential development, the company is building industrial and logistics parks across major cities. It also builds office and retail real estate spaces.
Abhishek Lodha-led Macrotech Developers is currently engaged in a legal battle with House of Abhinandan Lodha, a company formed by his younger brother over the use of brand name 'Lodha'.
