Macrotech Developers Record 14% Increase in Sale Bookings Amidst Housing Demand Surge

During the fiscal period from April to December, Macrotech Developers successfully sold properties valued at Rs 10,300 crore, marking a notable 14% rise from the previous year. This impressive growth in sales is primarily attributed to a significant boost in demand for housing.

The comparison with the last fiscal year is eye-opening as the company's sale bookings were previously recorded at Rs 9,040 crore. Macrotech Developers, widely known for its Lodha brand properties, holds a strong position in the Indian real estate sector, particularly in the Mumbai Metropolitan Region (MMR) and Pune, and has recently expanded its horizons to include the Bengaluru market.

With aspirations of further growth, Mumbai-based Macrotech Developers has set an ambitious target for the 2023-24 fiscal year, aiming for sale bookings amounting to Rs 14,500 crore. This is in contrast to the Rs 12,060 crore achieved in the preceding year.

In the latter half of this fiscal year, the company is looking to propel its growth through a series of aggressive launches. Macrotech's Managing Director and CEO Abhishek Lodha has expressed optimism about fulfilling the sales forecast due to an extensive pipeline of launches. "We plan to launch 8 million square feet area in the second half of this fiscal with an estimated sales value of around Rs 12,000 crore," stated Lodha, exemplifying their confidence in reaching the sales targets.

The October-December quarter has continued to showcase growth, with sale bookings climbing to Rs 3,410 crore, a 12 percent increase year-on-year. The same period in the previous fiscal year saw bookings of Rs 3,040 crore. Additionally, Macrotech Developers takes pride in having achieved a record-breaking third quarter in pre-sales.

Regarding the stellar quarter, Lodha commented on the strengthening housing market dynamics, "Consumers' desire to own a quality home early in their life journey and upgrade their lifestyle continues to strengthen." He further observed that, "On the back of steady rise in income levels and ample job creation this desire is translating into robust demand for high quality homes."

Previously operating as Lodha Developers, Macrotech Developers has a substantial history, having delivered more than 95 million square feet of real estate, and is developing over 110 million square feet in both ongoing and planned projects. The Group possesses an impressive land bank of over 4,300 acres, earmarked for future development of residential, commercial, as well as industrial and logistics projects.

growth, sales, demand