According to a regulatory filing, listed real estate developer Macrotech Developers, also referred to as Lodha, purchased seven land parcels in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru during the first half of the current fiscal year, FY24–25, with the intention of developing housing projects with an estimated revenue potential of Rs. 16,600 crore.
The company added projects worth Rs.16,600 crore in the first half of the fiscal year 2024–2025—more than 75% of its full year target of ₹21,000 crore—according to the regulatory filing. The company bought three land parcels in Pune and the MMR during the April-June quarter, intending to develop projects worth ₹11,100 crore in potential revenue.
Four projects with a combined potential value of ₹5,500 crore were announced by the firm in an operating update for the second quarter, which ran from July to September. The projects were located in Bengaluru and Pune.
Pre-sales bookings rose by 21% to Rs.4,290 crore in the July-September quarter, from Rs.3,530 crore in the same period the previous year, according to information released by the company on October 4. The company has delivered almost 100 million square feet of real estate as part of its ongoing and projected portfolio, and it is now developing around 110 million square feet.
We achieved our best-ever quarterly pre-sales of Rs.42.9 billion ( Rs,290 crore) showing growth of 21 per cent year-on-year despite the inauspicious ‘Shradhh' period falling in September this fiscal year (versus October in FY24)," the company said in a statement.
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