Page 49 - Macrotech Developers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The company has already added projects with development value of Rs 14,300 crore or over 80% of its full year guidance in the first half of the financial year and expects to surpass the guidance soon, Abhishek Lodha, MD & CEO, Macrotech Developers, told ET. According to him, the large number of projects tied up across several micro-markets of the cities that it operates in provide the company an opportunity to grow on a granular basis.

The management said the strong uptrend in the real-estate market will continue to buoy the company’s earnings growth

By March 2023, Macrotech Developers plans to gain strong consumer demand for quality homes from branded players by launching housing projects worth Rs 12,000 crore. The realty firm's CEO also boasted with great confidence that the company will achieve Rs 14,500 crore sales booking target fixed for the current fiscal year with great ease.

Macrotech Developers' net consolidated total income stood at Rs 1,755.1 crore in Q2 FY24, a dip of 0.35 per cent from Rs 1,761.2 crore it recorded in the similar quarter last year.

The companys collections during the quarter rose 16% from a year ago to Rs 2,750 crore, while revenues from operations declined marginally to Rs 1,750 crore. Net profit for the period declined 42% to Rs 210 crore. Intense competition among mortgage providers coupled with RBI pause and the expected downward trajectory for rate cycle in 2024 means that the market has already seen the peak of mortgage rate.