Business Update5 Jan 2024, 01:30 pm
Macrotech Developers Ltd Reports Strong 3QFY24 Pre-Sales Performance
AI Summary
Macrotech Developers Ltd has announced its key operational updates for 3QFY24, with pre-sales reaching INR 34.1 bn, a growth of 12% YoY and 4% QoQ. The company has also achieved excellent response to its recent launch in Bengaluru, with 1st phase sold out in 3 days. Additionally, the company has added 3 projects with a saleable area of ~2 million sq. ft. and a GDV of INR ~60 bn. Net debt remained largely stable at INR 67.5 bn. The company has also exited its UK investments completely.,
Key Highlights
- Strong pre-sales performance of INR 34.1 bn, up 12% YoY and 4% QoQ
- Excellent response to recent launch in Bengaluru, with 1st phase sold out in 3 days
- Added 3 projects with a saleable area of ~2 million sq. ft. and a GDV of INR ~60 bn
- Net debt remained largely stable at INR 67.5 bn
- Exited UK investments completely