Macrotech Developers, led by MD and CEO Abhishek Lodha, is gearing up to escalate its investment in construction projects to over Rs 5,000 crore in the current fiscal year, aligning with the growth in sales and new supply. With a target to deliver more than 10,000 apartments during 2024-25, the company is strategically positioned to capitalize on the strong housing demand.
Lodha emphasized the successful achievement of all major targets for the previous fiscal year, including pre-sales, land acquisition, and debt reduction, amid robust housing demand. He highlighted the sustained demand in India's housing sector, driven by robust economic growth and increasing preference for home ownership.
In line with its growth trajectory, Macrotech Developers plans to launch more projects and acquire additional land for future development, ensuring consistent and predictable growth. The company intends to surpass its construction spending target by investing over Rs 5,000 crore in the current fiscal year, following a spending of Rs 3,700 crore in the previous year.
Despite some delays in project launches, Macrotech Developers aims to fulfill its commitment by scaling up unit deliveries to more than 10,000 units during 2023-24. The company, known for its presence across Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, is expanding its footprint in the Bengaluru market following successful sales in initial projects.
Encouraged by the positive response in Bengaluru, the company is contemplating a potential housing project in another major tier I city. Additionally, Macrotech Developers has set a sales target of Rs 17,500 crore for the current fiscal year, reflecting a 21% growth from the previous year.
Lodha highlighted the company's robust performance in the previous fiscal year, marked by a three-fold jump in profit and significant growth in total income. With a focus on debt reduction and business expansion, Macrotech Developers has demonstrated its operational prowess and brand strength.
Having delivered around 100 million square feet of real estate and currently developing more than 110 million square feet, Macrotech Developers continues to cement its position as a key player in India's real estate sector.