(20 second reading) Macrotech Developers, which develops properties under the ‘Lodha’ brand, posted a 21% jump in its profit after tax at Rs 670 crore in Q4FY24.Its revenues from operations went up 23% y-o-y at Rs 4,020 crore.
The company said it posted its best ever annual pre-sales at Rs 14,520 crore and best ever quarterly pre-sales at Rs 4,230 crore. Its collection went up 20% to Rs 3510 crore.
Abhishek Lodha, MD & CEO, Macrotech Developers, said, “Driven by the strength of our brand, we delivered pre-sales of Rs 14,500 crore for FY24, meeting our guidance of delivering consistent and predictable 20% growth. Our Q4FY24 pre-sales stood at Rs 4,230 crore, showing a strong 40% y-o-y growth.”
Lodha said the company has achieved its guidance of reducing its net debt well below 0.5x of equity.