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Macrotech Developers Ltd share Price Today

Company details

1,276.95
1,335.00
529.85
1,379.85
6M Return 55.07%
1Y Return 148.84%
Mkt Cap.(Cr) 131,188.64
Volume 941,563
Div Yield 0.17%
OI
-
OI Chg %
-
Volume 941,563

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Realty company Macrotech Developers announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Pre-sales: Rs 42.3 billion ( 40% YoY).
  • Collection: Rs 35.1 billion ( 20% YoY).
  • Revenues from ops.: Rs 40.2 billion ( 23% YoY).
  • Adjusted EBITDA: Rs 13.4 billion ( 37% YoY).
  • PAT: Rs 6.7 billion ( 21% YoY).

FY24 Financial Highlights:

  • Annual pre-sales of Rs 145.2 billion. Best ever quarterly pre-sales of Rs 42.3 billion. 
  • Net Debt down to Rs 30.1 billion.
  • Robust Adjusted EBITDA margins at ~33%.

Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers said, “Our best ever quarterly and annual performance showcases the buoyancy in demand for high quality homes in India from branded developers. Driven by the strength of our brand, we delivered pre-sales of Rs 145 billion for FY24, thus meeting our guidance of delivering consistent and predictable 20% growth. Our Q4FY24 pre-sales stood at Rs 42.3 billion showing a strong 40% YoY growth.

We received yet another excellent response to our project launch in Bengaluru – our second in the city. We have achieved pre-sales of Rs 12 billion in just two quarters from two operating projects showcasing the brand resonance of Lodha in a new geography. This better than anticipated success provides greater confidence towards advancing our ‘expansion stage’ in Bengaluru.

We are pleased to note that we have achieved our guidance of reducing our net debt well below 0.5x of equity. Robust operating cash flows and our capital raise led to net debt coming down by over Rs 40 billion during the year to Rs ~30 billion which is less than 0.2x of equity. What is heartening to note is that the sharp reduction in net debt has happened along-side addition of new projects of over Rs 200 billion during the year. This makes us unique housing company to achieve the troika of significant pre-sales growth, robust business development, along withsignificant debt reduction showcasing our brand strength and operational prowess. Our enhanced financial strength will provide us an opportunity to accelerate margin as well as top line growth as the capital is invested over the next 6-12 months.

It is pleasing to note that, continuing robustness in business fundamentals and strengthening of the balance sheet has led to further credit rating upgrade - by ICRA to AA-/ Stable. This is our sixth rating upgrade in less than three years – a unique feat for large Indian corporate. Our average cost of funds has further come down to ~9.4% (down 10bps for the quarter).”

Result PDF

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Macrotech Developers Ltd shares SWOT Analysis

Strengths (7)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Company with Low Debt
  • Increasing Revenue every quarter for the past 3 quarters

Weakness (4)

  • Promoter holding decreased by more than -2% QoQ
  • MFs decreased their shareholding last quarter
  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years

Opportunity (2)

  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (3)

  • Promoter decreasing their shareholding
  • High PE (PE > 40)
  • Increasing Trend in Non-Core Income

Resistance and support

R1 1,343.8
R2 1,368.4
R3 1,401.9
Pivot

1,310.38

S1 1,285.8
S2 1,252.3
S3 1,227.7
EMA SMA
1,255.7
1,202.9
1,134.9
1,010.4
1,224.3
1,191.3
1,154.1
985.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
SAMBHAVNATH INFRABUILD AND FARMS PRIVATE LIMITED Bulk Sell 2024-03-12 1180.02 4972100 NSE
SEB ASIENFOND EX JAPAN Block Purchase 2024-03-07 1196.65 117093 NSE
SEB FUND 3 SEB PENSION FUND Block Sell 2024-03-07 1196.65 117093 NSE
Name Category Shares
Sambhavnath Infrabuild And Farms Pvt Ltd PROMOTER 26.99%
Sambhavnath Trust (through its trustees Abhishek Lodha and Vinti Lodha) PROMOTER 23.22%
Hightown Constructions Private Limited PROMOTER 19.46%
Homecraft Developers And Farms Private Limited PROMOTER 2.5%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
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Macrotech Developers Ltd Stocks COMPARISON

Financials( in Cr) Macrotech Developers Ltd NCC Ltd National Standard (India) Ltd Mahindra Lifespace Developers Ltd Man Infraconstruction Ltd
Price 1,319.20 285.65 4,650.00 565.30 190.15
% Change 1.88 -0.02 -1.08 -0.04 -1.09
Mcap Cr 131,188.64 17,934.45 9,300.00 8,762.72 7,059.32
Revenue TTM Cr 9,470.40 15,553.41 17.35 606.61 1,890.35
Net Profit TTM Cr 489.50 646.21 8.25 102.83 288.96
PE TTM 81.39 24.46 0.00 89.17 23.57
1 Year Return 148.84 146.78 -9.53 28.46 107.02
ROCE 8.82 19.70 5.02 1.69 33.26
ROE 10.57 10.98 3.43 1.42 29.65
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 12,672.10 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 39,641.00 -26,315.30
LAST 3M 112,356.80 -35,490.78
LAST 6M 175,524.06 28,431.26
LAST 12M 275,282.89 115,769.27

Macrotech Developers Ltd Information

Stock PE (TTM)
81.39
Promoter Holding
72.67%
Book Value
171.2819
ROCE
8.82%
ROE
10.57%
Description
  • Macrotech Developers Limited (Formerly known Lodha Developers Limited) was incorporated on September 25th, 1995. Lodha Group is among the largest real estate developers in India and has been involved in the real estate business since 1980s. Being as an Indian multinational real estate company headquartered in Mumbai, India, the Company developed residential & commercial properties in Mumbai, Thane, Hyderabad, Pune and London. The Company commenced operations in Mumbai, developing affordable housing projects in the suburbs of Mumbai, and later diversified into other segments and regions in the MMR and Pune. Some of the notable projects include Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. Moreover, the Company is presently credited for developing Palava, an integrated smart city near Mumbai. The Company commenced operations in Mumbai, developing affordable housing projects in the suburbs of Mumbai, and later diversified into other segments and regions in the MMR and Pune. Some of the notable projects include Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. Moreover, the Company is presently credited for developing Palava, an integrated smart city near Mumbai. The Company also develop commercial real estate, as part of mixed-use developments in and around our core residential projects to bring vibrancy to our residential developments. The Company created several brands including "Lodha", "CASA by Lodha" and "Crown - Lodha Quality Homes" for its affordable and mid-income housing projects, the "Lodha" and "Lodha Luxury" brands for premium and luxury housing projects, and the "iThink", "Lodha Excelus", "Lodha Supremus" and "Lodha Signet" brands for office. The Company have over 90 completed projects comprising a staggering 80 million square feet of developable area, of which nearly 60 million square feet is in affordable and mid income housing. Currently, the Company is engaged in developing more than 50 ongoing and planned projects across 75 million square feet of area and recognized for quality, focus on details, and elegant craftsmanship. To bring new ideas, the Company collaborated with globally renowned names from Armani/Casa, Jade Jagger, Buro Happold, Pei Cobb Freed & Partners to reimagining personalised service in luxury with Saint Amand. Few of the world`s finest developments include the iconic The World Towers which have transformed the skyline of Mumbai, Lodha Altamount - one of the most exclusive addresses, and Palava - India`s No.1 Smart City. The Company`s large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road). The large townships are located at Palava (Navi Mumbai, Dombivali Region) and Upper Thane (Thane outskirts). The premium and luxury housing projects include Lodha Park (Worli), Lodha World Towers (Lower Parel), Lodha Venezia (Parel) and New Cuffe Parade (Wadala). In addition, the Group have a few projects under the "Lodha Luxury" brand, which comprises small-scale, high-value developments such as Lodha Altamount (Altamount Road), Lodha Seamont (Walkeshwar) and Lodha Maison (Worli). As a part of industrial & logistics park portfolio, the Lodha Group are developing a logistics and industrial park spread over 800 acres of land near Palava, which is strategically located near the Jawaharlal Nehru Port, the proposed international airport in Navi Mumbai and the industrial hub of Taloja. The Company seeks to utilize more of land parcel in Palava & Upper Thane and take it up to 3,500 acres over a period. The Company have monetized nearly 165 acres of land in the Palava Logistics & Industrial Park (PLIP) either through JVs with reputed investors such as Morgan Stanley or through outright sales to some of the marquee global players like FM Logistics- a French 3PL firm. Thus, so far, the Company already monetized more than 255 acres of the industrial park segment through JV or outright sale. In September 2007, the Deutsche Bank made an investment of Rs 1,640 crore (US$218 million) by subscribing to the compulsorily convertible debentures (CCDs) of Lodha`s subsidiary, Cowtown Land Development Limited. In May of the year 2010, Macrotech Developers emerged the highest bidder to acquire a 22.5-acre plot in Wadala, Mumbai, for Rs 4,053 crore (US$538 million) from Mumbai Metropolitan Region Development Authority (MMRDA). In December 2012, the Company acquired Washington House, a residential building owned by the US consulate on Altamont Road, for Rs 341.82 crore (US$45 million), which was developed into Lodha Altamount. Further, the Company purchased a 17 acres land in Mumbai`s prime location from DLF for about Rs 2,700 crore (US$359 million), nearly four times higher than the price at which DLF had bought the land in 2005. In September 2013, the Group partnered with Donald Trump for development of Trump Tower Mumbai, an 800-ft-tall, 77-storey residential tower in Lower Parel, Mumbai. and with a number of celebrities to be brand ambassadors, including Aishwarya Rai, Amitabh Bachchan,Akshay Kumar and Twinkle Khanna. In the year of May 2016, it received an investment of Rs 425 crore from Piramal Fund Management for one of Company`s project. In 2018, the company bagged CNBC Awaaz Real Estate Award for the project, Lodha Altamount by CNBC.In November 2013, Macrotech Developers Group brought Macdonald House, London a seven-storey building in central London from the Government of Canada for Rs 3,120 crore (US$414 million), thru which the company acquired 87 acres of land in Thane from Clariant Chemicals India for Rs 1,102.5 crore (US$146 million). The Board of Directors of the Company at its meeting held on 27 March 2019, have approved a Scheme of Arrangement u/s 230-232 of the Companies Act, 2013, between the Company and NCP Commercials Pvt. Ltd. (Resulting Company) and their respective shareholders and creditors for demerger of Project `Lodha Excelus, New Cuffe Parade` (Demerged Undertaking) and its associated assets and liabilities and transfer and vesting thereof to and in the Resulting Company, as a `going concern`. The National Company Law Tribunal, Mumbai Bench (NCLT) had approved the above scheme on 01st October 2019. Accordingly, all asset and associated liabilities was transferred from the Company to NCP Commercial Private Limited at its carrying value. Upon demerger of the project, the Company sold off its equity shares in NCP Commercial Private Limited to an unrelated buyer. In terms of the Shareholders Agreement dated 25th March 2020 (Effective Date), in view of changes in the management rights of the Company over relevant activities in Lodha Developers UK Limited (LDUK) and the Company`s agreement to sell the legal and beneficial interest representing 24% of the entire issued and paid up ordinary share capital of LDUK at par to its fellow subsidiary within 120 days from the Effective Date, LDUK (including its subsidiaries) ceased to be a subsidiary of the Company and has become a Joint Venture with effect from March 25, 2020. Tata Power Company Limited, an Indian electric utility company based in Mumbai entered into a partnership agreement with Macrotech Developers for setting up EV charging stations in housing societies and offices in September 2021. During the financial year 2020-21, the Company completed an Initial Public Offering (IPO), comprising a fresh issue of 5,14,40,328 equity shares having a face value of Rs. 10, which got listed on BSE Limited and National Stock Exchange of India Limited with effect from April 19, 2021. During year 2020-21, the Schemes of Arrangement were approved by the National Company Law Tribunal (NCLT) for Demerger of `One Lodha Place` into One Place Commercials Private Limited effective September 25, 2020 and amalgamation of Copious Developers and Farms Private Limited and Ramshyam Infracon Private Limited effective June 18, 2021. Withdrawal application for demerger of esidential towers from the Belmondo and Splendora projects into two wholly owned subsidiaries viz Luxuria Complex Private Limited and Renovar Green Consultants Private Limited respectively was approved by NCLT, Mumbai Bench vide Order dated December 18, 2020. During the financial year 2021-22, Company launched 13 new projects or subsequent phases of existing projects with total salable area of ~5.6 million square feet, which included Codename Premier at Palava, Lodha Woods at Kandivali, Casa Supremo at Mira Road, Lodha Bellagio at Powai in MMR and Lodha Bella Vita in Pune etc. In FY22, it introduced 11 new projects located largely in micro-markets of MMR and Pune currently underserved by them, having 8.8 million square feet of salable area under capital light JDA route of which 4 projects having salable area of 2.0 million square feet were launched in the micro-markets of Western Suburbs, Eastern Suburbs and Pune. As on March 31, 2022, the Company had 29 consolidating subsidiaries, of which 18 subsidiaries were considered as joint ventures and 2 associates, including 1 associate was considered as a subsidiary. Digirealty Technologies Private Limited, Bellissimo Digital Infrastructure Development Management Private Limited, Thane Commercial Tower A Management Private Limited, Bellissimo Digital Infrastructure Investment Management Private Limited, Palava Induslogic 4 Private Limited and 1GS Quarters Holdings Limited became subsidiaries of the Company during FY22. Copious Developers and Farms Private Limited, Ramshyam Infracon Private Limited and Palava Dwellers Private Limited ceased to be subsidiaries of the Company during FY22. Apart from these, Anantnath Constructions and Farms Private Limited, Sitaldas Estate Private Limited, MMR Social Housing Private Limited, Bellissimo Estate Private Limited, Renovar Green Consultants Private Limited, Kora Constructions Private Limited, Luxuria Complex Private Limited, Odeon Theatres and Properties Private Limited and Palava Industrial and Logistics Park Private Limited ceased to be subsidiaries of the Company on account of mergers in April 2022. During the financial year 2022-23, the Company launched 12 new projects and subsequent phases of existing projects. Some of the key launches during the year included Lodha Malabar, Lodha Bellevue, Lodha Divino, Ascenza, Crown Kolshet, Villa Royale Palava in MMR, and Lodha Giardino & Lodha Panache in Pune etc. During FY` 23, Five wholly owned subsidiaries of the Company viz Bellissimo Constructions and Developers Private Limited, Homescapes Constructions Private Limited, Primebuild Developers and Farms Private Limited, Palava Institute of Advanced Skill Training Private Limited and Center for Urban Innovation Private Limited merged with the Company with effect from May 20, 2023. Bellissimo In city FC Mumbai 1 Private Limited and Bellissimo In city FC NCR 1 Private Limited were incorporated during FY 2023. Anantnath Constructions and Farms Private Limited, Sitaldas Estate Private Limited, MMR Social Housing Private Limited, Bellissimo Estate Private Limited, Renovar Green Consultants Private Limited, Kora Constructions Private Limited, Luxuria Complex Private Limited, Odeon Theatres and Properties Private Limited and Palava Industrial and Logistics Park Private Limited ceased to be subsidiaries of the Company on account of mergers during FY23.

Registered Address

412 Fl 4 17 G VardhamanChamber, Cawasji Patel Rd Horniman Fort, Mumbai, Maharashtra, 400001

Tel : 91-022-23024400
Email : investor.relations:lodhagroup.com
Website : http://www.lodhagroup.in
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543287
NSE Code : LODHA
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE670K01029

FAQ’s on Macrotech Developers Ltd Shares

You can buy Macrotech Developers Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Macrotech Developers Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 30, 2024 03:57 PM the closing price of Macrotech Developers Ltd was Rs.1,319.20.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 30, 2024 03:57 PM, the market cap of Macrotech Developers Ltd stood at Rs. 131,188.64.

The latest PE ratio of Macrotech Developers Ltd as of May 30, 2024 03:57 PM is 81.39

The latest PB ratio of Macrotech Developers Ltd as of May 30, 2024 03:57 PM is 0.13

The 52-week high of Macrotech Developers Ltd share price is Rs. 1,379.85 while the 52-week low is Rs. 529.85

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