This realty company to launch projects worth Rs 12,000 crore by March

As per the company, with strong launch pipeline, it would easily achieve the Rs 14,500 crore sales booking target fixed for the current fiscal year.

On Tuesday, Macrotech Developers shares surged 3.74 per cent to Rs 784.45 up from its previous closing of Rs 759.60 on the BSE.

Macrotech Developers is planning to launch housing projects worth Rs 12,000 crore by March next year to tap strong consumer demand for quality homes from branded players.  As per the company, with strong launch pipeline, it would easily achieve the Rs 14,500 crore sales booking target fixed for the current fiscal year as against Rs 12,070 crore in the previous year. Macrotech Developers, which sells properties under 'Lodha' brand, has already achieved sales bookings of Rs 6,890 crore during the first six months of this fiscal.

The company has recently announced its financial results for the quarter ended September 30, 2023. In the seasonally weakest quarter, company reported its best ever pre-sales performance demonstrating 12 per cent YoY growth to Rs 3530 crore along with continued debt reduction and robust business development.

Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.

Today, the stock opened at Rs 769.70 and has touched a high and low of Rs 794.00 and Rs 769.70 respectively.

The BSE group 'A' stock of face value Rs 10 has touched a 52-week high and low of Rs 829.00 and Rs 355.50, respectively.

The promoters holding in the company stood at 74.93 per cent, while Institutions and Non-Institutions held 24.02 per cent and 1.05 per cent respectively.