May 16, 2024: Real estate company Macrotech Developers plans to invest between Rs 3,500 to 4,000 crore in the fiscal year 2024-2025 (FY25) to acquire new land parcels for housing projects. These acquisitions will be made through direct purchases and joint development agreements with landowners, reflecting the company’s strategy to capitalise on the rising demand for residential properties. Macrotech Developers, known for its Lodha brand, primarily operates in the Mumbai Metropolitan Region (MMR) and Pune, with recent expansion into the Bangalore market.
The company’s budget for “new business development” stands at approximately Rs 35 to 40 billion, which includes expenditures on land acquisitions from previous years. In joint development agreements, developers typically provide an advance payment to landowners and share revenue or area from the developed project. Macrotech Developers aims for a balanced mix of 60% owned land and 40% from joint development agreements.
In FY24, Macrotech Developers acquired several new land parcels for housing projects, with an estimated sales value exceeding Rs 20,000 crore, surpassing its initial guidance of Rs 17,500 crore. The company also achieved a notable 20% growth in sale bookings (pre-sales), reaching a record Rs 14,520 crore compared to Rs 12,060 crore in FY23.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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