Macrotech Developers Shares Jump Over 3 Percent After Robust Q3 Sales Bookings Data

Shares of Macrotech Developers Ltd on Friday jumped over 3 per cent after the realty firm reported a 40 per cent increase in sales bookings during the December quarter. The stock gained 3.23 per cent to Rs 1,240 on the BSE. At the NSE, it jumped 3.18 per cent to Rs 1,238.30.

Macrotech Developers on Thursday reported a 40 per cent increase in sales bookings to Rs 2,608 crore during the quarter ended December on higher housing demand, helping the company to trim net debt by 20 per cent to Rs 9,925 crore. Macrotech Developers, one of the leading real estate developers in India, markets its properties under the Lodha brand.

In a regulatory filing, Macrotech said its sales bookings grew to Rs 2,608 crore during the third quarter of this fiscal from Rs 1,862 crore in the year-ago period. The sales bookings number pertains to its projects in India. On Wednesday, the company had reported sales bookings of Rs 1,900 crore in its two projects in London.

The collections from customers against sales rose 44 per cent to Rs 2,127 crore from Rs 1,472 crore during the period under review. The company's net debt (India business) fell to Rs 9,925 crore as of December 31, 2021, from Rs 12,477 crore at the end of the September quarter.

(PTI)