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Macrotech Developers Ltd share Price Today

Company details

1,123.25
1,166.75
394.00
1,277.90
6M Return 43.78%
1Y Return 185.60%
Mkt Cap.(Cr) 112,951.20
Volume 2,245,991
Div Yield 0.09%
OI
-
OI Chg %
-
Volume 2,245,991

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Realty company Macrotech Developers announced Q3FY24 results:

  • Strong pre-sales at Rs 34.1 billion ( 12% YoY)
  • Adds 3 new projects for Rs ~60 billion GDV
  • Strong Adj. EBITDA margins at ~37%
  • Collection: Rs 25.9 billion (- 3% YoY)
  • Revenues from ops.: Rs 29.3 billion ( 65% YoY)
  • Adj. EBITDA: Rs 10.8 billion ( 90% YoY)
  • PAT: Rs 5.7 billion ( 179% YoY)

Commenting on the performance, Abhishek Lodha, MD & CEO, Macrotech Developers, said, “Strong underlying demand on the back of rising incomes, ample job creation as well as enhanced consumer confidence enabled us to achieve our best Q3 pre-sales performance of Rs 34.1 billion. In 9MFY24 our pre-sales stood at Rs 103 billion showing a robust 14% YoY growth and remains on track to deliver our full-year guidance of Rs 145 billion.

New tailwinds for housing will further strengthen demand in 2024. The latest communication from global central banks suggests peaking of interest rates and a steady reduction in benchmark rates will commence in 2024. This will likely result in lower home loan rates in India, strengthening demand.

We had an excellent response to our first launch in Bengaluru –the entire phase-1 inventory of the project was sold out within the first three days of the launch. The icing on the cake was that our superior quality product aimed at an upgrade in lifestyle, was priced at a substantial premium to the existing projects in the neighborhood. This success showcases the strength of the brand in new geographies and would help us build further momentum in pre-sales.

Mumbai’s infrastructure upgrade is now becoming operational with the first mega project Mumbai Trans Harbour Link / Atal Setu getting operational earlier this month. We are going to witness a series of such transformational projects getting completed over the next 24 months significantly improving Mumbai’s commute times and leading to improvement in the attractiveness of the Mumbai Region as a place to live and work. In particular, our Palava City is all set to capitalize on several such infrastructure developments unleashing significant growth in both prices and volumes.

During the quarter we have added three more projects for a 2 million square feet area with a GDV of Rs 60 billion taking our 9MFY24 business development to Rs 203 billion – already surpassing our full-year guidance of Rs 175 billion. A substantial high pace of business development showcases the attractiveness of the brand Lodha to landowners leading to a burgeoning pipeline of new attractive opportunities that will enable us to sustainably grow our business in the future. To capitalize on some of these opportunities in the future while keeping our deleveraging journey intact, our board has approved to have enablers in place for raising capital to be pursued if needed.

It is heartening to note that we continue to grow pre-sales and add a substantial number of new projects while sticking to our deleveraging path. Despite significant business development, the net debt for the company remained largely stable during the quarter at Rs 67.5 billion. Reflecting the strengthening balance sheet, our exit cost of debt for the quarter further came down by over 10 bps to ~9.5%. We also exited our UK investments with the receipt of the entire balance as per our earlier communication.”

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Macrotech Developers Ltd shares SWOT Analysis

Strengths (11)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Good quarterly growth in the recent results

Weakness (3)

  • MFs decreased their shareholding last quarter
  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years
  • High volume, top losers

Opportunity (1)

  • Highest Recovery from 52 Week Low

Threats (3)

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

Resistance and support

R1 1,160.7
R2 1,185.5
R3 1,204.2
Pivot

1,141.95

S1 1,117.2
S2 1,098.5
S3 1,073.7
EMA SMA
1,121.7
1,098.1
1,029.2
907.5
1,130.5
1,110.6
1,030.5
879.3
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 27.49%
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

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Operating Profit
Profit after Tax
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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 1,135.85 232.35 4,887.90 586.90 204.35
% Change -1.06 -3.43 3.79 3.89 -3.22
Mcap Cr 112,951.20 14,588.03 9,775.80 9,095.01 7,586.49
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 65.95 21.70 0.00 333.13 23.95
1 Year Return 185.60 129.03 15.17 78.42 202.97
ROCE 8.82 19.70 5.02 1.69 33.26
ROE 10.57 10.98 3.43 1.42 29.65
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 12,672.10 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 29,068.81 33,709.58
LAST 3M 68,518.10 30,558.15
LAST 6M 130,081.93 64,349.19
LAST 12M 189,941.35 208,211.24
Macrotech Developers allots NCDs aggregating to Rs 125 cr

Mar 28, 2024 l BSE Announcement

Macrotech Developers Limited - Other General Purpose

Mar 22, 2024 l NSE Announcement

Date Action Type Ratio
Sep 08, 2023 Dividend 10
May 31, 2023 Bonus 1:1

Macrotech Developers Ltd Information

Stock PE (TTM)
65.95
Promoter Holding
72.67%
Book Value
159.2561
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 Mar 28, 2024 03:57 PM the closing price of Macrotech Developers Ltd was ₹ 1,135.85.

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 Mar 28, 2024 03:57 PM, the market cap of Macrotech Developers Ltd stood at ₹ 112,951.20.

The latest PE ratio of Macrotech Developers Ltd as of Mar 28, 2024 03:57 PM is 65.95

The latest PB ratio of Macrotech Developers Ltd as of Mar 28, 2024 03:57 PM is 0.14

The 52-week high of Macrotech Developers Ltd share price is ₹ 1,277.90 while the 52-week low is ₹ 394.00

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