Macrotech Developers records best quarterly sales in last 12 quarters, pre-sales at Rs2608cr in Q3FY22

7 Jan 2022 , 12:07 PM

Macrotech Developers (Lodha) has logged pre-sales of Rs2608cr for the quarter ending December 2021 (Q3FY22) rising by 40% yoy. This would be the best quarterly performance in last 12 quarters for Lodha.

The sales in Q3FY21 were supported by the stamp duty waiver in Maharashtra.

Additionally, the company’s UK investment projects had pre-sales of GBP 191 million (Rs1910cr) in the quarter as informed by our release dated January 5, 2022.

Further, Lodha’s collections stood at Rs2,127cr in 3QFY22. This is up 44% on a YoY basis.

Continuing with its focus on capital light growth, Lodha had  entered into JDA for six additional new projects during the quarter having ~4.8 million sq. ft. of saleable area with GDV of  Rs10,000cr. Since its IPO, the company has now signed JDAs for eleven projects with cumulative GDV of Rs14,500cr.

The company’s net debt for India business has reduced to Rs9,925 cr, already achieving our fullyear guidance.

Also, in the quarter, Lodha successfully raised equity of Rs4,000cr through QIP. The promoter holding now stands reduced to ~82.5%.

At around 12.06 pm, Lodha stock was trading at Rs1206.15 per piece up 0.41% on Sensex. The stock has touched an intraday high of Rs1240 per piece.