Macrotech Developers' Strategic Growth Amid Rising Debt

Macrotech Developers Ltd's net debt increased by 14% to Rs 4,920 crore in Q2 of this fiscal year, as the company invests in land acquisition and construction. Despite the debt rise, the firm saw a 21% boost in sales bookings, highlighting strong market demand.

Macrotech Developers Ltd, a major Mumbai-based real estate company operating under the Lodha brand, has reported a 14% rise in net debt, totaling Rs 4,920 crore as of September 30, 2024. This increase comes amid the firm's expanded investments in land acquisition and construction.

Despite the financial uptick, Macrotech Developers has recorded impressive sales figures. Recent reports highlight a 21% year-on-year rise in sales bookings to Rs 4,290 crore during the July-September period, powered by heightened housing demand.

Looking ahead, the company aims for a 21% annual growth in sale bookings, with a goal of reaching Rs 17,500 crore in the 2024-25 fiscal year. Macrotech Developers maintains a strong footprint in the Mumbai Metropolitan Region and Pune, while also entering Bengaluru's property market.

(With inputs from agencies.)