Macrotech ‘Lodha’ Developers surpasses its pre-sales projection for FY25 | Company Business News-OxBig News Network

Bengaluru: Macrotech Developers Ltd, which operates under the ‘Lodha’ brand name, has surpassed its pre-sales projections for 2024-25, helped by a slew of new projects during the year and what it said was its “best-ever quarter”.

The Mumbai-based developer clocked ₹17,630 crore of pre-sales in 2024-25, surpassing its guidance of ₹17,500 crore and its FY24’s pre-sales of ₹14,520 crore. Pre-sales, or bookings, are a leading indicator of future cashflows and earnings.

“We achieved our best-ever quarter pre-sales of ₹4,810 crore (in the January-March fourth quarter), showing 14% year-on-year growth,” Macrotech Developers said in a regulatory filing on Monday.

“With this, we have achieved pre-sales of ₹17,630 crore in FY25 (up 21% year-on-year), surpassing our FY25 guidance and delivering sustainable, predictable 20% growth,” it said.

Macrotech Developers is among India’s top-selling developers, along with Godrej Properties Ltd, DLF Ltd, and Prestige Group.

The company said that in FY25 it added 10 new projects with ₹23,700 crore of gross development value across the Mumbai Metropolitan Region, Bengaluru and Pune.

Additionally, under its digital infrastructure business vertical (warehousing and industrial), Macrotech added two locations in the National Capital Region (NCR) and Chennai.

Macrotech also said that helped by strong collections it had reduced its net debt to ₹3,990 crore from ₹4,320 crore in the December quarter.

The wider market

DLF, India’s largest real estate developer, surpassed its FY25 sales guidance of ₹17,000 crore in the December quarter itself helped by sales bookings in The Dahlias, a super luxury project in Gurugram.

Sales bookings for the first nine months of FY25 stood at ₹19,187 crore for DLF.

DLF, Prestige, and Godrej Properties are yet to announce their FY25 sales numbers.

Last week, amid the ongoing legal battle between Macrotech and House of Abhinandan Lodha (HoABL), Abhishek Lodha-led Macrotech Developers accused entities owned by younger brother Abhinandan of forging documents to gain access to the ‘Lodha’ brand name.

The company alleged that certain entities related to HoABL had forged a board resolution and the signature and identity documents of one of Macrotech’s directors three years ago.