Macrotech Developers Q1 net profit turns around to Rs160.91cr on smart recovery in residential real estate demand

Macrotech Developers Ltd reported 220.98% growth in total sales revenues for the Jun-21 quarter on consolidated basis at Rs1,605.37cr

Jul 31, 2021 08:07 IST India Infoline News Service

Macrotech Developers Ltd reported 220.98% growth in total sales revenues for the Jun-21 quarter on consolidated basis at Rs1,605.37cr. On a sequential basis, revenues were down -36.64% compared to Rs2,533.56cr revenues in Mar-21 quarter.

The company witnessed a sharp recovery on yoy basis on a low base. However, the impact of COVID 2.0 ensured that the growth was negative on a sequential basis. Out of its fresh issue proceeds, Rs1,500cr has already been used to reduce debt while the land acquisition is still pending substantially.

Net profit for the Jun-21 quarter turned around to a net profit of Rs160.91cr from a net loss of Rs-134.44cr in the Jun-20 quarter. The sharp spike in revenues on a yoy basis was largely on the back of a revival in construction activity and a sharp spike in residential demand.


On sequential basis, the net profits were lower by -48.2% once again due to the impact of a COVID 2.0 as it halted construction activity in most sites. Net margins for Jun-21 quarter stood at 10.02% against -26.88% in Jun-20 quarter and 12.26% in Mar-21 quarter.


Financial highlights for Jun-21 compared yoy and sequentially


Macrotech Developers
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 1,605.37 ₹ 500.14 220.98% ₹ 2,533.56 -36.64%
Net Profit (Rs cr) ₹ 160.91 ₹ -134.44 N.A. ₹ 310.56 -48.19%
Diluted EPS (Rs) ₹ 3.65 ₹ -3.40 ₹ 7.84
Net Margins 10.02% -26.88% 12.26%

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