Shares of Macrotech Developers drop 5% after Q4 results

For the quarter ended March, Lodha recorded 40% on-year growth in pre-sales at Rs 4,230 crore and 20% growth in collections at Rs 3,510 crore, and the net debt was also reported to be down to Rs 3,010 crore.

“Our best-ever quarterly and annual performance showcases the buoyancy in demand for high-quality homes in India from branded developers. Driven by the strength of our brand, we delivered pre-sales of INR 145 bn for FY24, thus meeting our guidance of delivering consistent and predictable 20% growth. Our Q4FY24 pre-sales stood at INR 42.3 bn showing a strong 40% YoY growth,” commented Abhishek Lodha, MD & CEO, Macrotech Developers.

He further added, “We are pleased to note that we have achieved our guidance of reducing our net debt well below 0.5x of equity. Robust operating cash flows and our capital raise led to net debt coming down by over INR 40 bn during the year to INR ~30 bn which is less than 0.2x of equity. What is heartening to note is that the sharp reduction in net debt has happened alongside the addition of new projects of over INR 200 bn during the year.”

The stock has gained 168% in the last one year while it has gained nearly 13.5% in the last three months.

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