Macrotech Developers, which markets properties under the Lodha brand, on Wednesday reported an 88 per cent growth in its sales bookings to Rs 2,003 crore for the September 2021 quarter. In London business, Macrotech Developers achieved a sales booking of Rs 1,450 crore in the September quarter.
Mumbai-based Macrotech Developers, earlier named Lodha Developers, is one of the largest real estate firms in the country.
Abhishek Lodha, MD and CEO of Macrotech Developers, said, “Led by the strength of our brand and resilient industry trends, we have shown strong pre-sales growth of 88 per cent during the quarter on a y-o-y (year-on-year) basis and more than doubled our pre-sales on a q-o-q (quarter-on-quarter) basis.”
He remained confident of achieving pre-sales guidance of around Rs 9,000 crore in the current financial year and reducing net debt to around Rs 10,000 crore by the end of March
Lodha said the company witnessed strong demand across its portfolio, both in ready as well as under-construction projects.
“With the upcoming festive season, we are confident that we will see a huge increase in sales because consumers are so keen to move into a bigger and better home,” he added.
He mentioned that consumers are catching onto the trend of buying a home instead of renting.