Macrotech Developers to Invest Rs 8,000 Cr for Expansion

New Delhi, Apr 27 (PTI) Realty firm Macrotech Developers Ltd plans to invest more than Rs 8,000 crore this fiscal to acquire land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru for building housing projects as part of its expansion plan.

Macrotech Developers, which sells properties under 'Lodha brand', is one of the largest real estate companies in the country.

In an interview with PTI, Macrotech Developers Executive Director- Finance Sushil Kumar Modi noted that housing demand continues to be strong, especially for big brands having strong track record of executing projects.

To expand business, he said the company has set a target of acquiring multiple land parcels this financial year to develop projects, which can generate a revenue of Rs 25,000 crore.

Under the new business development, Macrotech Developers purchases land outright and also partners with landowners.

In 2024-25 fiscal, the company acquired 10 land parcels across MMR, Pune and Bengaluru.

These land parcels will be used to develop projects with an estimated revenue potential of Rs 23,700 crore.

"Last fiscal year, we invested Rs 7,000 crore for new business development. To add new projects worth Rs 25,000 crore, we will have to invest more than Rs 8,000 crore in the current fiscal," Modi said.

For joint development agreements (JDAs) with landowners, the company has to make some upfront payments to landowners.

On other operational metrics, Modi said the company has given a guidance of Rs 21,000 crore worth of sale bookings for this fiscal, almost 20 per cent higher than the 2024-25 fiscal.

Earlier this month, the Mumbai-based firm had reported a 21 per cent increase in its sale bookings during 2024-25 fiscal to a record Rs 17,630 crore from Rs 14,520 crore in the 2023-24 financial year. The pre-sales guidance for 2024-25 was Rs 17,500 crore.

On Thursday, Macrotech reported a 38 per cent increase in its consolidated net profit to Rs 921.7 crore for the latest quarter ended March on higher income.

Its net profit stood at Rs 665.5 crore in the year-ago period.

Total income rose to Rs 4,420.3 crore in the fourth quarter of the last fiscal from Rs 4,083.9 crore in the corresponding period of the preceding year.

Net profit increased to Rs 2,764.3 crore in 2024-25 fiscal from Rs 1,549.1 crore in the preceding year.

Total income grew to Rs 14,169.8 crore last fiscal from Rs 10,469.5 crore in the 2023-24.

Macrotech Developers has delivered around 100 million square feet of real estate so far and is currently developing more than 110 million square feet under its on-going and planned portfolio.