Macrotech Developers Q3 Profit Surges 88%, Achieves 73% of Pre-Sales Target
Macrotech Developers, a Mumbai-based real estate company known for its properties under the Lodha brand, has reported a robust 87.6% year-on-year increase in net profit for the third quarter of FY25, reaching ₹944 crore. This impressive growth is attributed to strong sales, improved margins, and higher collections during the quarter. The company's revenue also saw a significant jump, rising 39.3% to ₹4,083 crore.
Key Financial Highlights (Q3 FY25, YoY)
- Revenue: Up 39.3% to ₹4,083 crore (from ₹2,931 crore)
- EBITDA: Up 48% to ₹1,306 crore (from ₹883 crore)
- Margin: Expanded to 32% (from 30%)
- Net Profit: Up 87.6% to ₹944 crore (from ₹503 crore)
In addition to the strong financial results, the board of directors also announced the appointment of Sanjay Chauhan as CFO and Sushil Kumar Modi as a whole-time director.
Operational Performance
- Pre-Sales: Stood at ₹4,510 crore, a 32% YoY increase.
- Collections: Reached ₹4,290 crore, a 66% YoY increase.
FY25 Guidance Performance
- Pre-Sales: Achieved 73.25% of the ₹17,500 crore target.
- Operating Cash Flow: Achieved 65.5% of the ₹6,500 crore target.
- New Project Additions: Achieved 92.3% of the ₹21,000 crore target.
The company has shown strong performance in the first nine months of the fiscal year, registering a 25% growth in pre-sales to ₹12,820 crore compared to ₹10,300 crore in the corresponding period last year. By the end of the third quarter, the business has achieved 73.25% of its full-year pre-sales guidance.
On the business development front, Macrotech Developers added one new project in Bengaluru with a gross development value of ₹2,800 crore. In the first nine months of the fiscal year, the company added eight new projects with a gross development value of ₹19,500 crore across Mumbai, Bengaluru, and Pune, achieving over 90% of its full-year guidance.
The company has also successfully reduced net debt by ₹610 crore to ₹4,320 crore, which is below its target of 0.5x net debt-to-equity.
Shares of Macrotech Developers closed 1.64% higher at ₹1,100 apiece on Friday, ahead of the results announcement.
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