Macrotech Developers buys 10 land parcels in FY25 to develop housing projects worth ₹24000 crore

Macrotech Developers has acquired 10 land parcels to develop housing projects with a total sales value of almost ₹24000 crore across MMR, Bengaluru and Pune

Mumbai-based listed real estate company Macrotech Developers, which sells properties under the Lodha brand, has acquired 10 land parcels in FY25 to develop housing projects with a total sales value of almost ₹24000 crore across MMR, Bengaluru and Pune.

Macrotech Developers buys 10 land parcels in FY25 to develop housing projects worth ₹24000 crore. (Picture for representational purposes only)(Unsplash )

The company said in its operational update that during the year it added 10 new projects (excluding Digital Infra projects) with ₹23700 crore ( ₹~237bn) of GDV across MMR, Bengaluru and Pune, surpassing our full year guidance of ₹21000 crore ( ₹210bn).

Macrotech Developers had given a guidance for 2024-25 that it would be acquiring land parcels having a revenue potential of ₹21,000 crore.

On the business development front, the company has added two new projects in Pune with a GDV of ₹4300 crore ( ₹43bn). “With this we now have nine locations across Pune. This sets us on a path to further increase our market share and continue to grow towards becoming the No. 1 developer in Pune,” it said.

For Digital Infra (warehousing and industrial), the company added two locations in NCR and Chennai on the one hand and acquired its joint venture partners stake in the existing platform on the other hand, it said.

On April 7, the company reported a 14% year-on-year growth in sales bookings to touch ₹4,810 crore in the fourth quarter of this fiscal. Its sales bookings stood at ₹4,230 crore in the year-ago period.

Macrotech Developers' sale bookings grew 21% last fiscal to a record ₹17,630 crore from ₹14,520 crore in 2023-24 financial year.

The company has a presence in MMR, Pune and Bengaluru housing markets. Besides residential development, the company is building industrial and logistics parks across major cities. It also builds office and retail real estate spaces.

Abhishek Lodha-led Macrotech Developers is engaged in a legal battle with House of Abhinandan Lodha, a company formed by his younger brother, over the use of the brand name 'Lodha'.