Macrotech Developers Q4 Sales Bookings Up 40% - Lodha Reports Record FY24 Pre-Sales

New Delhi, Mar 5 (PTI) Realty firm Macrotech Developers Ltd on Friday reported a 40 per cent annual growth in its sales bookings to Rs 4,230 crore in the fourth quarter of last fiscal driven by strong housing demand.

Its sales bookings stood at Rs 3,030 crore in the year-ago period.

Macrotech Developers, which sells its properties under the Lodha brand, registered a 20 per cent growth in its sales bookings to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year, according to a regulatory filing.

"We had Q4, FY24 pre-sales of Rs 4,230 crore - our best quarterly performance ever, up 40 per cent on YoY (year-on-year) basis," Macrotech Developers said.

"For FY24, pre-sales were Rs 14,520 crore - once again our best-ever annual pre-sales performance, thus meeting our guidance of delivering consistent and predictable 20 per cent growth," it added.

The company's net debt has come down to Rs 3,010 crore as on March 31, 2024, from Rs 7,070 crore at the end of the previous fiscal.

"On the back of strong operating cash flow generation and recently concluded equity raise, our net debt further reduced to Rs 3,010 crore," the company said.

Mumbai-based Macrotech Developers is one of the leading real estate firms in the country.

It has a significant presence in Mumbai Metropolitan Region (MMR) and Pune. It has recently entered into Bengaluru housing market.