Macrotech Developers to launch ₹19k-crore housing projects this fiscal to encash strong demand

Realty firm Macrotech Developers Ltd plans to launch housing projects worth ₹19,000 crore across Mumbai Metropolitan Region, Pune and Bengaluru during this fiscal as it seeks to expand business amid strong demand for residential properties.

Mumbai-based Macrotech Developers, which sells properties under the 'Lodha brand', is one of the leading real estate firms in the country.

In an interview with PTI, Macrotech Developers Executive Director- Finance Sushil Kumar Modi said the company remains bullish about the growth prospects in the Indian real estate sector and will keep investing to expand the business.

"In the last fiscal, we launched around 10 million square feet area with a Gross Development Value (GDV) of around ₹14,000 crore spread across 24 projects," he said.

Modi said the company would launch 17 housing projects in the current fiscal covering 13 million square feet of area and an estimated sales booking potential of ₹19,000 crore.

These projects will be launched across MMR, Pune, Bengaluru.

Modi said the company is targeting exponential growth in sales bookings in Bengaluru and Pune markets.

He said the company clocked ₹2,500 crore worth of pre-sales in Pune in 2024-25 as against ₹1,800 crore in the preceding year.

In Bengaluru, Modi said the company sold properties of about ₹800 crore last fiscal and is targeting to double it in 2025-26.

To create a land bank for future development, Modi said the company plans to invest more than ₹8,000 crore this fiscal to acquire land parcels in MMR, Pune and Bengaluru.

He said the company has set a target of acquiring multiple land parcels this financial year to develop projects, which can generate a revenue of ₹25,000 crore.

Under the new business development, Macrotech Developers purchases land outright and also partners with landowners.

In the 2024-25 fiscal, the company acquired 10 land parcels with an estimated revenue potential of ₹23,700 crore.

"Last fiscal year, we invested ₹7,000 crore for new business development.

"To add new projects worth ₹25,000 crore, we will have to invest more than ₹8,000 crore in the current fiscal," Modi said.

For joint development agreements (JDAs) with landowners, the company has to make some upfront payments to landowners.

On other operational metrics, Modi said the company has given a guidance of ₹21,000 crore worth of sale bookings for this fiscal, almost 20% higher than the 2024-25 fiscal.

Earlier this month, the Mumbai-based firm reported a 21% increase in its sale bookings during the 2024-25 fiscal to a record ₹17,630 crore from ₹14,520 crore in the 2023-24 financial year. The pre-sales guidance for 2024-25 was ₹17,500 crore.

On the financial front, Macrotech Developers reported a 38% increase in its consolidated net profit to ₹921.7 crore in the latest quarter ended March, aided by higher income.

Its net profit stood at ₹665.5 crore in the year-ago period.

Total income rose to ₹4,420.3 crore in the fourth quarter of the last fiscal from ₹4,083.9 crore in the corresponding period of the preceding year.

Net profit increased to ₹2,764.3 crore in the 2024-25 fiscal from ₹1,549.1 crore in the preceding year.

Total income grew to ₹14,169.8 crore last fiscal from ₹10,469.5 crore in 2023-24.

Macrotech Developers has delivered around 100 million square feet of real estate so far and is currently developing more than 110 million square feet under its ongoing and planned portfolio.