Macrotech Developers Announces Major Expansion

Real estate giant Macrotech Developers Ltd, renowned for its 'Lodha' brand, is gearing up to launch residential projects worth a staggering Rs 19,000 crore in the current financial year. This ambitious plan targets the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, leveraging the booming demand in the housing sector.

Strategic Growth and Investments

In a recent interview with PTI, Sushil Kumar Modi, Executive Director – Finance at Macrotech Developers, shared the company's optimistic outlook on the Indian real estate market. "Last fiscal, we launched around 10 million square feet with a Gross Development Value (GDV) of Rs 14,000 crore across 24 projects," Modi revealed. This year, the company aims to surpass that with 17 projects covering 13 million square feet and potential sales bookings of Rs 19,000 crore.

Focus on Bengaluru and Pune

Macrotech is setting its sights on significant growth in Bengaluru and Pune. With pre-sales in Pune jumping to Rs 2,500 crore in 2024-25 from Rs 1,800 crore the previous year, and Bengaluru sales aiming to double from Rs 800 crore, the company is on a fast track to expansion.

Land Acquisition and Future Projects

To fuel its growth, Macrotech plans to invest over Rs 8,000 crore this fiscal in acquiring land in MMR, Pune, and Bengaluru. "We're targeting land parcels that can generate Rs 25,000 crore in revenue," Modi stated, highlighting the company's aggressive investment strategy.

Financial Performance Highlights

Macrotech's financials are robust, with a 38% year-on-year increase in consolidated net profit to Rs 921.7 crore for the March quarter. The full fiscal year 2024-25 saw net profit rise to Rs 2,764.3 crore from Rs 1,549.1 crore, with total income reaching Rs 14,169.8 crore.

With over 100 million square feet of real estate delivered and more than 110 million square feet in development, Macrotech Developers continues to be a key player in India's real estate sector.