Macrotech Developers shares will be in focus on Monday after the real estate company announced plans to invest more than Rs 8,000 crore this fiscal to acquire land parcels in Mumbai Metropolitan Region (MMR), Pune, and Bengaluru for new housing projects as part of its expansion strategy. Macrotech Developers, which sells properties under the ‘Lodha’ brand, is one of India’s largest real estate players.

In an interview with PTI, Sushil Kumar Modi, Executive Director – Finance at Macrotech Developers, said housing demand remains strong, particularly for reputed brands with a solid track record of project execution.

To drive business growth, the company has set a target to acquire multiple land parcels this financial year for projects expected to generate Rs 25,000 crore in revenue.

Under its business development strategy, Macrotech acquires land outright and also enters into joint development agreements (JDAs) with landowners, involving some upfront payments.

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In FY25 so far, Macrotech has acquired 10 land parcels across MMR, Pune, and Bengaluru, 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.

On operational performance, Modi noted that the company has guided for Rs 21,000 crore worth of sale bookings this fiscal, nearly 20% higher than FY24.

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Earlier this month, Macrotech reported a 21% rise in sale bookings during FY24 to a record Rs 17,630 crore, compared with Rs 14,520 crore in FY23. The company had earlier set a pre-sales guidance of Rs 17,500 crore for FY24.

On Thursday, Macrotech reported a 38% jump in consolidated net profit to Rs 921.7 crore for the March quarter, up from Rs 665.5 crore a year ago. Total income rose to Rs 4,420.3 crore in the quarter from Rs 4,083.9 crore in the year-ago period.

For the full fiscal year, total income grew to Rs 14,169.8 crore from Rs 10,469.5 crore in FY23.

Macrotech Developers has delivered around 100 million square feet of real estate so far and is currently developing over 110 million square feet under its ongoing and planned projects.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Markets rebounded after Tuesday’s decline, gaining over half a percent. In today’s trade, shares of Airtel, HDFC Bank, Macrotech Developers, Maruti Suzuki, Hindustan Zinc among others will be in focus due to various news developments.

SpiceJet
SpiceJet, which had regular flights to Nepal before the Covid pandemic, has received scheduled approval and slots from Kathmandu’s Tribhuvan International Airport (TIA).

Airtel
Telecom operator Bharti Airtel and Finnish gear maker Nokia are expanding their core network collaboration to speed up new 5G service delivery.

South Indian Bank
South Indian Bank on Wednesday reported a 10% growth in gross advances while its deposits grew at a slower 5.5% pace.

Macrotech Developers
Realty developer Macrotech Developers, headed by Abhishek Lodha, has alleged that the House of Abhinandan Lodha (HoABL), established by his younger brother Abhinandan Lodha, has used fabricated documents to unlawfully exploit the ‘Lodha’ brand and registered trademark.

Hindustan Copper
Hindustan Copper signed an agreement with CODELCO (Corporacion Nacional del Cobre de Chile) for cooperation and exchange of information.

HDFC Bank
Sebi issued an administrative warning letter to the bank alleging certain non-compliances in relation to custodian activities being carried out by the Bank.

Simplex Infra
Simplex Infra entered into a one-time settlement with non-assignee lenders covering 6.27% out of 14.56% of non-assignee lenders.

Lupin
Lupin’s arm Lupin Healthcare (UK) acquires 100% stake of Renascience Pharma for £12.3 million.

Dhampur Bio Organics
Dhampur Bio Organics Board approved a change in company’s name from Dhampur Bio Organics to Divija Bio Organics.

M&M Financial Services
M&M Financial Services overall disbursements were up 1% year-on-year at Rs 15,480 crore. Business assets, meanwhile, increased 16% to Rs 1.19 lakh crore.

Hindustan Zinc
Hindustan Zinc reported its fourth-quarter production update, posting a 4% year-on-year (YoY) increase in mined metal output.

Maruti Suzuki
Maruti Suzuki said it will increase the prices of its cars across 7 models from April 8 2025. The company is raising the prices due to rising input costs, operational expenses and regulatory changes.

BEL
Bharat Electronics signed a contract worth Rs 593 crore with Indian Air Force to provide maintenance services for Akash Missile System, which was supplied by the company.

Realty firm Macrotech Developers on Saturday reported 88 per cent increase in consolidated net profit at Rs 944.4 crore for December quarter FY25 on higher income amid strong housing demand. Net profit of Macrotech Developers, which sells properties under Lodha brand, stood at Rs 503.3 crore in the year-ago period.

Total income rose to Rs 4,146.6 crore in the third quarter of this fiscal from Rs 2,958.7 crore in the corresponding period of the preceding year, according to a regulatory filing.

During the April-December period of 2024-25 fiscal, the company’s net profit more than doubled to Rs 1,842.6 crore from Rs 883.6 crore in the year-ago period.

Total income rose to Rs 9,749.5 crore in the first nine months of this fiscal from Rs 6,385.6 crore a year ago.

Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, “We achieved our best ever quarterly pre-sales performance of Rs 4,510 crore in the third quarter.”

This is the fourth consecutive quarter of achieving pre-sales greater than Rs 4,000 crore, he highlighted. “What is also encouraging is that these strong pre-sales have come along side robust embedded EBITDA margins of 35 per cent. This demonstrates our focus on delivering consistent and predictable growth alongside good profitability,” Lodha said. The company has achieved Rs 12820 crore of pre-sales till December in this fiscal showcasing 25 per cent growth, he said. “The third quarter also saw the strongest ever collections performance of Rs 4290 crore which showcases strong execution capability of the organization.”

He said the company added another projects in Bengaluru with a GDV (gross development value) of Rs 2,800 crore.

“These new project additions in Bengaluru will provide opportunity to drive pre-sales growth from next FY onwards in the city where we have entered the expansion phase now,” he said.

In the first nine months of this fiscal, he said the company added many land parcels across MMR, Pune and Bengaluru with an estimated revenue potential of Rs 19,500 crore.

“We continued making progress towards building our annuity portfolio in a calibrated manner and acquired ~33 acres of land for our Digital Infrastructure (warehousing and industrial) business in the NCR,” Lodha said.

Macrotech Developers has delivered approximately 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.

Motilal Oswal has buy call on Macrotech Developers Ltd. with a target price of Rs 1415. The current market price of Macrotech Developers is Rs 1199.55.

Macrotech Developers Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 124477.35 Crore) operating in Real Estate sector.

Macrotech Developers Ltd. key Products/Revenue Segments include Property Development, Land Development Rights, Other Operating Revenue, Rental Income and Building Materials for the year ending 31-Mar-2023.

Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 4083.90 Crore, up 38.03 % from last quarter Total Income of Rs 2958.70 Crore and up 24.82 % from last year same quarter Total Income of Rs 3271.71 Crore. Company reported net profit after tax of Rs 667.70 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 72.16 per cent stake in the company as of 31-Mar-2024, while FIIs owned 23.79 per cent, DIIs 3.3 per cent.

New Delhi: Realty firm Macrotech Developers on Saturday reported a 25% rise in its consolidated net profit to Rs 505 crore in the December quarter and said it could raise up to Rs 5,000 crore, if needed, for expansion. Mumbai-based Macrotech Developers is one of the leading real estate developers in the country. It has a major presence in Mumbai Metropolitan Region and Pune. The company markets its properties under Lodha brand.

Its net profit stood at Rs 405 crore in the year-ago period.

Total income rose to Rs 2,958.7 crore in the October-December period of 2023-24 financial year from Rs 1,902.4 crore in the corresponding period of the previous year, according to a regulatory filing.

The board also approved an enabling proposal to raise up to Rs 5,000 crore by issuing securities through public issues, private placement or any other mode in one or two tranches.

“Strong underlying demand on the back of rising incomes, ample job creation, as well as enhanced consumer confidence, enabled us to achieve our best Q3 pre-sales performance of Rs 34.1 billion,” Abhishek Lodha, Managing Director and Chief Executive Officer of Macrotech Developers, said.

In the first nine months of FY24, he said the pre-sales (sales bookings) stood at Rs 10,300 crore, showing a robust 14% year-on-year growth and remains on track to deliver full-year guidance of Rs 14,500 crore.

New tailwinds for housing would further strengthen demand in 2024, Lodha said. “Latest communication from global central banks suggest peaking of interest rates and steady reduction in benchmark rates will commence in 2024. This will likely result in lower home loan rates in India, strengthening demand,” he said.

Lodha said the company witnessed an excellent response to its first project launch in Bengaluru and the entire phase 1 was sold out within the first three days of the launch.

“This success showcases the strength of the brand in new geographies and would help us build further momentum in pre-sales,” he said.

Lodha noted that infrastructure development in the Mumbai region would benefit the company’s large township ‘Palava City’.

“During the third quarter, we have added three more projects for a 2 million square feet area with a GDV (gross development value) of Rs 6,000 crore, taking our nine months business development to Rs 20,300 crore already surpassing our full-year guidance of Rs 17,500 crore.”

Lodha highlighted that the substantial-high pace of business development showcases the attractiveness of brand Lodha to landowners.

This has resulted in a burgeoning pipeline of new attractive opportunities which will enable the company to grow business in future, he said.

“In order to capitalise on some of these opportunities in future while keeping our deleveraging journey intact, our board has approved to have enablers in place for raising capital to be pursued if needed,” he said.

Macrotech Developers has delivered 95 million square feet of real estate and is currently developing more than 110 million square feet under its ongoing and planned portfolio.

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Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

The Indian market closed higher for the fourth consecutive day in a row on Friday. The S&P BSE Sensex rose more than 800 points while the Nifty50 closed just a shade below 21,900 levels.

Sectorally, buying was seen in IT, realty, oil & gas and public sector while selling was seen in healthcare, utilities and auto stocks.

Stocks that were in focus include names like IRFC which was up more than 6%, Macrotech Developers gained nearly 7% and Firstsource Solutions rallied more than 10% on Friday.

We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.

We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:

Analyst: Mitesh Karwa, Research Analyst Bonanza Portfolio

IRFC:
IRFC is seen to be breaking out of a resistance zone on the daily timeframe with a bullish candlestick, above average volumes and making a new all-time high.Buying is recommended on dips of around 106-107 with a stop loss of 99 and targets of 118 as the stock is trading above all its important EMAs.

Macrotech Developers Ltd:
Macrotech Developers Ltd (Lodha) is seen to be breaking out of an upwards sloping parallel channel pattern on the weekly timeframe with a bullish candlestick and above average volumes.

Additionally, the stock is seen to be trading above all its important EMAs which is why buying is recommended on dips towards 1150 with a stop loss of 1040 and a target of Rs 1350.

Firstsource Solutions Ltd:
Firstsource Solution Ltd is seen to be breaking out of a rounding bottom formation on the monthly timeframe with above average volumes.

The breakout will be confirmed after monthly closing of the stock above 203. Entry can be taken in the stock after the monthly closing of January with a stop loss below 189 and a target of 250.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times.)