Macrotech Developers Ltd, a key player in Indian real estate, will launch housing projects worth ₹10,000 crore by March. The new projects will take place in important markets like the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. This strategic move will add nearly 8 million square feet of residential space in the second half of this fiscal year. It showcases the company’s commitment to growth and expansion.
Macrotech Developers’ ₹10,000 crore housing project strategy
In its latest investor presentation, Macrotech Developers revealed it launched 3.6 million square feet of residential space during the first half of this fiscal year. The estimated sales booking potential for this area is ₹6,130 crore. This reflects the company’s strong strategy to meet the growing demand for quality housing.
For the second half of the year, Macrotech plans to launch an additional 7.9 million square feet of residential projects. This expansion aims for a revenue potential of ₹10,000 crore. These projects will reinforce Macrotech’s significant presence in prime real estate markets.
Growth in sales and demand
Earlier this month, Macrotech Developers reported a 21% increase in sales bookings. The company achieved a record ₹4,290 crore during the July-September period. This surge comes from a stronger housing market; last year, Macrotech sold properties worth ₹3,530 crore in the same period.
In the last fiscal year, Macrotech registered a 20% growth in sales bookings, reaching ₹14,520 crore. The company is now targeting a 21% annual growth in sales, setting a goal of ₹17,500 crore for the current fiscal year 2024-25. Abhishek Lodha, MD and CEO of Macrotech Developers, highlighted that the company achieved its best quarterly pre-sales performance of ₹4,290 crore in Q2 FY25. This success occurred despite challenges such as the monsoon season and the inauspicious ‘Shraddh’ period in September. He noted, “With the festive season underway, we are on track to achieve our guidance of ₹17,500 crore in pre-sales for FY25.”
The company remains optimistic about housing demand, fueled by strong affordability and consumer confidence. Increased competition among mortgage providers and an anticipated decline in interest rates will boost the housing sector. This is especially true in the mid-income segment, where Macrotech has a strong foothold.
Macrotech Developers has delivered around 100 million square feet of real estate and is developing over 110 million square feet in ongoing and planned projects. This commitment to growth positions Macrotech as a leader in India’s dynamic real estate landscape.
