Not in 'rat race' to be top builder in terms of sale bookings, says Macrotech Developers MD
Macrotech Developers is not in a «rat race» to become the top builder in terms of sale bookings and will rather focus on achieving consistent and predictable growth with high-profit margins, its MD and CEO Abhishek Lodha said. Macrotech Developers, which markets its properties under Lodha brand, registered a 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year.
It has given guidance of achieving 21 per cent annual growth in sale bookings this fiscal to Rs 17,500 crore.
When asked about the reason for setting a conservative sale bookings guidance considering that few players posted more than Rs 20,000 crore pre-sales in FY24 itself, Lodha told PTI, «We are not in any rat race and neither our shareholders are bothered about any such rat race.»
«We want to achieve consistent growth. Consistent growth and predictable growth with low leverage is very important and that is our business model,» he said in an interview with PTI.
Lodha stressed that achieving healthy growth in both topline (revenue) and bottom line (profit) was important.
«Our embedded EBIDTA (earnings before interest, depreciation, tax and amortisation) margin is more than 31 per cent, much higher than the market average,» he asserted.
Lodha said the company has maintained for the last 2-3 years that it would target consistent 20 per cent annual growth in its sales bookings.
Macrotech Developers, which has a big presence in Mumbai Metropolitan Region (MMR) and
