Macrotech Developers stock has gained 404% in 3 years, hitting ₹1,227 apiece. The company reported a 40% growth in sales bookings in Q4 FY24, reaching ₹4,230 crore. It successfully raised ₹3,300 crore through a QIP last month.
Multiple site visits to Lodha s Palava township show a well-planned development taking place, Jefferies said as it highlighted that land prices have doubled in three years. In its view, there is potential upside over the long-term going ahead. Affordable housing policy boost to residential sales is also likely to show its impact soon.
Macrotech Developers shares are up 56.35 per cent in the last six months and 103.97 per cent for the last one-year period. Lodha said its pre-sales at Rs 3,410 crore was its best ever December quarter performance.
Macrotech Developers is on track to meet their full-year pre-sales guidance of Rs 14,500 crore, despite reporting a drop in pre-sales on a sequential basis.