Macrotech Developers clocks an exceptional ~190% yoy growth in PAT at Rs355 crore

26 Jul 2022 , 02:59 PM

Lodha (Macrotech Developers), India’s largest real estate developer, has released its financial results for the fiscal quarter ending June 30, 2022. In comparison to Q1FY22, the company reported its best-ever Q1 pre-sales performance, with 194% yoy growth in pre-sales and 53% yoy growth in collections.

The company reported a growth of 194% yoy in Pre-Sales at Rs2,814 crore in Q1FY23. While collection stood at Rs2,616 crore, up by 53% yoy.
Company’s revenue from operations during the quarter jumped 67% yoy at Rs2,676 crore.

During the quarter, adjusted EBITDA stood at Rs903 crore, registering a growth of 68% yoy against the previous corresponding quarter.

Macrotech reported a net profit of Rs355 crore in the quarter under review, registering growth of 190% yoy against the same quarter last year.

During the quarter, the company continued to see a robust reduction in debt with net debt reduced by Rs450 crore to Rs8,856 crore.

Company expects to add new projects with a combined GDV of Rs15,000 crore in FY23, owing to the strong attractiveness of our brand to land owners and thus a robust pipeline of JDAs.

Macrotech Developers was trading at Rs1,132.10, down by 2% against previous close of Rs1,156.30 on NSE. It touched intraday high and low of Rs1,169.95 and Rs1,125 respectively.