Macrotech's Robust Growth Amid Corporate Trademark Dispute

Macrotech Developers reduced its net debt by 12% in Q3 to Rs 4,320 crore due to strong pre-sales and internal cash flows. Despite a legal dispute over trademarks with House of Abhinandan Lodha, Macrotech reported significant growth, achieving record pre-sales and increased profitability.

Macrotech Developers reported a significant reduction in its net debt, cutting it by 12% during the December quarter to Rs 4,320 crore, according to MD Abhishek Lodha. This improvement comes on the back of strong pre-sales and robust internal cash flows.

The company, which operates under the Lodha brand, reduced its debt from Rs 4,930 crore recorded at the end of September. In an interview with PTI, Lodha detailed the company's outstanding performance during this period and expressed optimism about ending the fiscal year on a high.

Amidst these financial achievements, Macrotech is embroiled in a legal dispute with the House of Abhinandan Lodha over trademark usage. Despite this challenge, the company hit record pre-sales of Rs 4,510 crore, reflecting a 32% year-on-year increase, and remains focused on reaching its annual target of Rs 17,500 crore.

(With inputs from agencies.)