Macrotech Developers shares rise 1% as pre-sales in June quarter jumps 20%

Collections stood at ₹2,690 crore for Q1 FY25, showing a growth of around 12% from ₹2,400 crore in Q1 FY24.

Macrotech Developers stock rose 1.2% to hit an intraday high of ₹1,528 on the National Stock Exchange of India (NSE) on Frida.

The real estate firm said it has added three projects in the Mumbai Metropolitan Region (MMR) and Pune, having ₹11,100 crore of gross developmental value (GDV), which is more than 50% of full-year guidance of ₹21,000 crore.

“Despite the significant investments in business development in this quarter, our net debt stands at ₹4,320 crore, well below our ceiling of 0.5x net debt/equity,” the company said in the statement.

It added that the robustness in the company’s business fundamentals and strong balance sheet has enabled the credit rating upgrade to ‘AA- (Positive)’ by Crisil.

In the previous quarter March 2024 (Q4 FY24), Macrotech Developers reported a 40% growth in pre-sales at ₹4,230 crore compared with a year ago. For FY24, pre-sales stood at ₹14,500 crore, up 20%.

During the quarter, the company reported a 10.6% drop in its consolidated net profit to ₹667 crore compared with a year ago, while revenue from operations jumped 23% to ₹4,020 crore.

At 12:40 PM, Macrotech Developers stock traded 0.97% higher at ₹1,524.25 on NSE.