Macrotech: Faster debt reduction, strong sales bode well for Macrotech stock

The company added six new projects in the December quarter including a Joint Development Agreement in Mumbai with an expected gross sales value of ₹10,000 crore over the next few years.

Synopsis

The initial data of Macrotech Developers, one of Mumbai’s leading real estate companies, for the December quarter has been encouraging. The company, which operates under the brand Lodha, showed 5-10% higher momentum in its Mumbai and London businesses than the analyst estimates.

ET Intelligence Group: The initial data of Macrotech Developers, one of Mumbai’s leading real estate companies, for the December quarter has been encouraging. The company, which operates under the brand Lodha, showed 5-10% higher momentum in its Mumbai and London businesses than the analyst estimates. It has also been able to bring its debt down faster than anticipated following the recent qualified institutional placement (QIP).

Pre-sales or

BY

ET Bureau

2 mins read, Last Updated:

Jan 18, 2022, 06:43 AM IST

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