desk
Share
News Topical,Digital Desk : Realty firm Macrotech Developers Ltd is planning to invest over Rs 8,000 crore this fiscal to acquire land in the Mumbai Metropolitan Region (MMR), Pune and Bengaluru to build housing projects as part of its expansion plan. Macrotech Developers, which sells properties under the Lodha brand, is one of the largest real estate companies in the country.
In an interview to PTI, Sushil Kumar Modi, Executive Director (Finance), Macrotech Developers, said housing demand remains strong, especially for big brands that have a strong track record of project execution. He said that for business expansion, the company has set a target of acquiring several land parcels to develop projects this financial year, which can generate revenue of Rs 25,000 crore.
Acquired 10 land parcels Under new business development, Macrotech Developers buys land directly and also partners with land owners. In the financial year 2024-25, the company acquired 10 land parcels in MMR, Pune and Bengaluru. These land parcels will be used to develop projects with an estimated revenue potential of Rs 23,700 crore. On Thursday, Macrotech reported that its consolidated profit grew 38 per cent to Rs 921.7 crore in the quarter ended March. Stock performance On Friday, the company's stock closed at Rs 1,298, down 1.68 per cent. In the last one year, the company's stock has seen a rise of 5.81 per cent.
--Advertisement--
