Macrotech Developers Achieves Record Sales Amid Housing Boom

Macrotech Developers, a prominent real estate firm based in Mumbai, reported a 21% rise in sales bookings, reaching Rs 4,290 crore for July-September, driven by strong housing demand. With significant operations in Mumbai and Pune, the company also marked its entry into Bengaluru, adding new land parcels worth Rs 5,500 crore.

Macrotech Developers, headquartered in Mumbai, announced a substantial 21% increase in sales bookings amounting to Rs 4,290 crore during the July-September period, driven by heightened housing demand. This marks a notable rise from Rs 3,530 crore in the same timeframe last year.

In a strategic expansion, the company has forayed into the Bengaluru market, adding four new land parcels in Pune and Bengaluru, totaling a revenue potential of Rs 5,500 crore. Despite the inauspicious 'Shradhh' period in September, Macrotech reported its highest-ever quarterly pre-sales.

The firm remains optimistic about meeting a 20% growth target for the fiscal year, building upon a record Rs 14,520 crore in sales bookings during 2023-24. Macrotech has successfully delivered around 100 million square feet and is developing over 110 million square feet in its ongoing projects.

(With inputs from agencies.)