Macrotech Developers Q3 Results Review - Steady Performance; Growth Trajectory On Track: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Macrotech Developers Ltd. reported its best-ever third quarter pre-sales with sales bookings of Rs 30 billion, up 16% YoY but down 4% QoQ and it was higher than our estimate of Rs 28 billion. For nine months-FY23, bookings stood at Rs 90 billion, up 62% YoY, surpassing its FY22 sales and well on track to exceed its FY23 guidance of Rs 115 billion. Sales momentum sustained across the micro markets in Mumbai Metropolitan Region, while contribution from Pune improved, on the back of a successful launch of a project in Kharadi. Overall, Macrotech Developers launched 2.3 million square feet of projects in Q3 FY23 and is expected to launch 4.2 msf in Q4 FY23 with a gross development value potential of Rs 58 billion, indicating strong growth visibility for Q4. Sales volume increased 4%/19% YoY/QoQ to 2.5 msf, while blended realization rose 10% YoY. At a portfolio level, Macrotech Developers raised prices by ~5% on a year-to-date basis..Click on the attachment to read the full report:.DLF Q3 Results Review - On Track To Exceed FY23 Sales Guidance: ICICI Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Macrotech Developers Q3 Results Review - Steady Performance; Growth Trajectory On Track: Motilal Oswal

Macrotech Developers reported its best-ever third quarter pre-sales with sales bookings of Rs 30 billion.

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