Macrotech Developers Sets Stage for Major Realty Expansion

Macrotech Developers plans to launch 8 million square feet of residential space in the fiscal's second half, with projected sales of Rs 10,000 crore. The firm's optimistic outlook follows a 21% rise in Q2 sales bookings, driven by increased housing demand, despite seasonal challenges.

Macrotech Developers Ltd, a major player in the real estate sector, is set to launch nearly 8 million square feet of residential space in the second half of the current fiscal year. This expansion, valued at approximately Rs 10,000 crore in sales, is part of the company's strategic growth plan.

Known for selling properties under the Lodha brand, the Mumbai-based company reported a 21% increase in sales bookings, reaching a record Rs 4,290 crore during the July-September quarter. This growth is notable despite the usual market disruptions caused by monsoon and the inauspicious 'Shraddh' period.

Managing Director and CEO Abhishek Lodha highlighted the robust demand for quality housing, attributing it to competitive mortgage rates and strong consumer optimism. With the festive season ahead, Macrotech is optimistic about achieving its sales target of Rs 17,500 crore for the fiscal year 2024-25.

(With inputs from agencies.)