Macrotech Developers stock: Lodha shares Q1 update, says pre-sales up 20%

Macrotech Developers Ltd (Lodha) on Friday said its pre-sales jumped 20 per cent year-on-year (YoY) to Rs 4,030 crore in the June quarter from Rs 3,350 crore. This was down 5 per cent over March quarter's pre-sales of Rs 4,230 crore. 

June quarter collections grew 12 per cent to Rs 2,690 crore from Rs 2,400 crore in the same quarter last year. Collections fell 23 per cent sequentially over Rs 3,510 crore in the March quarter. 

Lodha said it added three projects in MMR and Pune having Rs 11,100 crore of gross development value (GDV), which was over 50 per cent of the full year guidance of Rs 21,000 crore.

"Despite the significant investments in business development in this quarter, our net debt stands at Rs 4,320 crore, well below our ceiling of 0.5 times net debt to equity. Our consistent performance, robustness in business fundamentals and strong balance sheet has enabled credit rating upgrade
to ‘AA- (Positive)’ by Crisil," Macrotech Developers said.  

Macrotech Developers shares are up 17 per cent in the past one month and 43.16 per cent in 204 so far. The multibagger scrip gained 113 per cent in the past one year and 467 per cent in the five-year period.