HomeNewsMacrotech targets to deliver 10,000 housing units in 22-23

Macrotech targets to deliver 10,000 housing units in 22-23

Realty firm Macrotech Developers has set a target of delivering 10,000 homes by next March for which the company will invest Rs 3,800 crore this fiscal year on the construction of its various ongoing and new projects.

The company invested Rs 2,600 crore last year and delivered 6,000 housing units. The construction work got affected during the June quarter of the last fiscal year because of the second wave of the COVID pandemic.

Meanwhile, Macrotech Developers has set an aggressive target to grow its sales bookings by 27 percent during the current fiscal year at Rs 11,500 crore as against Rs 9,024 crore in the previous year.

While the company would continue to focus on Mumbai Metropolitan Region (MMR) and Pune Macrotech is also exploring opportunities in the Bengaluru market and a final decision will be taken in the next few months.

The company will continue its focus to expand its portfolio in a capital-light manner by partnering with landowners and making investments in construction only.

The company signed 11 JDAs (joint development agreements) for nearly Rs 15,000 crore GDV (gross development value) during FY22.

Macrotech Developers has reported a multi-fold jump in consolidated net profit at Rs 1,202.37 crore for the last fiscal year on higher revenue and pre-sales. Its net profit stood at Rs 40.16 crore in 2020-21. Total income rose to Rs 9,579.17 crore in 2021-22 from Rs 5,771.65 crore in the previous fiscal year. Mumbai-based Macrotech Developers is one of the leading real estate developers in the country.

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