During the company’s investors’ call, Macrotech Developers Managing Director and CEO Abhishek Lodha laid out the benefits of home ownership over and above mere shelter—namely, that owning this type of property is financially more beneficial than renting. When referring to potential buyers, he urged them to get involved in the housing market as soon as they can.
Lodha drew attention to the fact that rents are on the increase in the country, which informed his assertion that as much as it may seem fashionable to rent rather than own a house, it is a ploy that does not help the middle class build wealth. He said, “Purchasing a home is not only an investment but improves upon the stability and reputation of families. ”
The CEO also discussed the upcoming Budget 2024 announcement on launching new schemes for first-time homebuyers, particularly a credit-linked subsidy scheme for lower-income groups, which he said is a very positive move.
Also, Macrotech Developers expects to diversify to another city; this decision is expected by the second half of FY25.
Regarding its financial performance, Macrotech recorded a net sales of 43. Net debt was up by 5% to ₹4,320 crore in Q1 as it incurred higher capital expenditure in the form of Land & Building. These were ₹3,010 crore up to 31st March 2023-24, the ‘Note’ said, and this is expected to rise to ₹3,400 crore by the end of June 2024-25.
Lodha justified this rise in debt by arguing that good cash flow means that, operationally, this company is fairly sound. He also pointed toward the realization of a reduction in the average cost of funds by nearly 30 basis points, which was now at 9. 1%.
During the first quarter, the company achieved a 20 percent increase in sale bookings, reaching ₹4,030 crore, compared to ₹3,350 crore in the first quarter of last year. Customer collections were also up by 12 percent to ₹2,690 crore for the first quarter of the financial year 2024-25.
Macrotech Developers posted an incredible 2. from ₹68 to ₹475, that is, a rise of 7 times the consolidated net profit. 3 crore for the Quarters ending on June 2024, whereas Total Income for the consolidated Company is ₹178. 4 crore in the year-ago period, but ancillary revenue excluding those came down to 564 crore from 735 crore. Total receipts soared to ₹ 2,918 crore. 3 crore from ₹1,671. This has risen to 8 crore during the same year from the initial 3 crore projected in the budgets and annual work plans of the MDAs.
Macrotech has completed and delivered around 100 million sq ft of real estate, and today, it is in the process of developing over 110 million sq ft through new projects, single-brand projects, and integrated large-format projects.
