Macrotech Developers records best-ever quarterly pre-sales at Rs 4,230 crore
Macrotech Developers has recorded its best quarterly performance ever with 40% year-on-year growth in pre-sales at Rs 4,230 crore for the quarter ended March.
The performance has helped the company report its best-ever annual pre-sales at Rs 14,520 crore during the financial year 2023-24. With this, the company has met its guidance of 20% growth, Macrotech Developers said in a regulatory filing.
The developer’s collection also rose 20% from a year ago to Rs 3,510 crore during the fourth quarter of the financial year. With this, the collections for the year rose to Rs 11,260 crore.
During the quarter, the company added new projects with cumulative gross development value of Rs 20,300 crore across various micro-markets of Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, exceeding its guidance of Rs 17,500 crore.
On the back of robust operating cash flow generation and recently concluded equity raise, the developer reduced its net debt to Rs 3,010 crore which is less than 0.2 times of equity, thus achieving its goal of net debt-equity ratio of less than 0.5 times.
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