Macrotech Developers Reports Strong Growth with 2.7-Fold Profit Increase for June 2024 Quarter

Macrotech Developers reported a 2.7-fold rise in consolidated net profit to Rs 475.3 crore for the June 2024 quarter, driven by higher income and strong pre-sales. The firm's total income surged to Rs 2,918.3 crore. MD & CEO Abhishek Lodha highlighted strong performance and future growth prospects.

Macrotech Developers has announced a significant 2.7-fold increase in its consolidated net profit, reaching Rs 475.3 crore for the quarter ending June 2024. The development firm’s net profit for the same period the previous year stood at Rs 178.4 crore.

Bolstered by strong pre-sales revenue, total income for the quarter surged to Rs 2,918.3 crore from Rs 1,671.8 crore in the corresponding quarter of the previous year. Abhishek Lodha, Managing Director and CEO of Macrotech Developers, underscored that Q1 FY'25 was the company's best first quarter ever, with pre-sales topping Rs 4,030 crore.

Lodha emphasized the company's robust EBITDA margins and diverse project portfolio, showcasing predictability and consistency in Macrotech’s business model. In Pune alone, pre-sales stood at over Rs 1,000 crore, and the company added three new projects in MMR and Pune with a gross development value of Rs 11,100 crore.