Macrotech Developers Q3 profit rises 88% to ₹944 crore on higher income

Realty firm Macrotech Developers on Saturday reported an 88% increase in consolidated net profit at ₹944.4 crore for the December quarter FY25 on higher income amid strong housing demand.

Net profit of Macrotech Developers, which sells properties under the Lodha brand, stood at ₹503.3 crore in the year-ago period.

Total income rose to ₹4,146.6 crore in the third quarter of this fiscal from ₹2,958.7 crore in the corresponding period of the preceding year, according to a regulatory filing.

During the April-December period of the 2024-25 fiscal, the company's net profit more than doubled to ₹1,842.6 crore from ₹883.6 crore in the year-ago period.

Total income rose to ₹9,749.5 crore in the first nine months of this fiscal from ₹6,385.6 crore a year ago.

Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, "We achieved our best ever quarterly pre-sales performance of ₹4,510 crore in the third quarter."

This is the fourth consecutive quarter of achieving pre-sales greater than ₹4,000 crore, he highlighted.

"What is also encouraging is that these strong pre-sales have come alongside robust embedded EBITDA margins of 35%. This demonstrates our focus on delivering consistent and predictable growth alongside good profitability," Lodha said.

The company has achieved ₹12820 crore of pre-sales till December in this fiscal showcasing 25% growth, he said. "The third quarter also saw the strongest ever collections performance of ₹4290 crore which showcases the strong execution capability of the organization."

He said the company added other projects in Bengaluru with a GDV (gross development value) of ₹2,800 crore.

"These new project additions in Bengaluru will provide an opportunity to drive pre-sales growth from next FY onwards in the city where we have entered the expansion phase now," he said.

In the first nine months of this fiscal, he said the company added many land parcels across MMR, Pune and Bengaluru with an estimated revenue potential of ₹19,500 crore.

"We continued making progress towards building our annuity portfolio in a calibrated manner and acquired ~33 acres of land for our Digital Infrastructure (warehousing and industrial) business in the NCR," Lodha said.

Macrotech Developers has delivered approximately 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.