Realty firm Macrotech Developers’ net debt fell by 7 per cent in the January-March quarter to nearly Rs 4,000 crore on strong housing sales and fund collections from customers.
Macrotech Developers, which sells properties under the Lodha brand, is one of the leading real estate developers in the country.
In its latest operational update, Macrotech Developers noted that the company’s net debt reduced by Rs 320 crore during the January-March quarter to Rs 3,990 crore.
The company’s net debt stood at little over Rs 4,300 crore at the end of December 31, 2024.
The reduction has been achieved despite significant investment in acquiring land parcels for future development.
The company buys land outright and also partners with landowners to develop housing projects.
Macrotech Developers’ internal cash flow remained strong last fiscal year due to record sales bookings and healthy fund collections from customers.
Macrotech Developers’ sale bookings grew 21 per cent last financial year to a record Rs 17,630 crore, from Rs 14,520 crore in 2023-24 financial year.
Its collection from customers grew 29 per cent to Rs 14,490 crore last fiscal year, from Rs 11,260 crore in the 2023-24 fiscal.
Strong sales and collections helped the company in significant investment in land acquisitions.
During the full 2024-25 fiscal, Macrotech Developers acquired 10 land parcels across MMR (Mumbai Metropolitan Region), Bengaluru and Pune to develop housing projects.
The upcoming projects on these new 10 land parcels will have a total revenue potential of Rs 23,700 crore.
Macrotech Developers Ltd has a significant presence in MMR, Pune and Bengaluru housing markets.
Besides residential development, the company is building industrial & logistics parks across major cities. It also builds office and retail real estate spaces.
Abhishek Lodha-led Macrotech Developers recently resolved its dispute with House of Abhinandan Lodha, a company formed by his younger brother.
Since January this year, the two companies have been engaged in a legal battle over use of ‘Lodha’ brand.
Macrotech Developers will continue to use the ‘Lodha’ brand, while the younger brother will continue to operate under the ‘House of Abhinandan Lodha’ brand.
In January, Macrotech Developers filed a suit in the Bombay High Court against HoABL for infringement of its trademarks and sought appropriate injunctions, reliefs, and damages.
Lodha Group and House of Abhinandan Lodha (HoABL) have no connection with each other. Both entities will communicate this widely.
Abhinandan Lodha has no rights or claims in Lodha Group or Macrotech Developers or other businesses of Abhishek.
Similarly, Abhishek has no rights or claims in HoABL or other businesses of Abhinandan, as per the agreements between the two sides.
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