Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22
Real Estate

Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22

Realty firm Macrotech Developers will double its speculation on construction to Rs 2,800 crore in FY22 to accelerate works at different ventures, which were hampered a year ago because of the Covid-19 pandemic and nationwide lockdown.

Mumbai-based Macrotech Developers, previously known as Lodha Developers, is one of the leading real estate firms in the country. The organisation got recorded on the stock exchange a month ago after the fruitful launch of its Rs 2,500 crore initial public offering (IPO).

Macrotech Developers CEO and MD Abhishek Lodha told the media that the company would fundamentally focus on the advancement of residential and warehousing properties in the Mumbai Metropolitan Region (MMR) and Pune throughout the following few years.

He also told the media that the housing request has been delayed from April-May. However, it is probably going to get up from the following month. Like the e-commerce area, he said that these two fragments had acquired significance during this pandemic.

Lodha brought up that the absolute expenditure on construction declined the previous fiscal year as the works on the venture locales were affected for nearly a half year.

The real estate developer delivered 2.7 million sq ft space in the last fiscal year as against 15.7 million sq ft in 2019-20.

Lodha told the media its pre-sales stood at Rs 5,970 crore during the last fiscal year. In the 2019-20 fiscal, the organisation's business appointments remained at Rs 6,570 crore.

While 10% contribution was from land monetisation in warehousing and industrial space, around 90% of pre-deals came from the residential portion and that too in an affordable and mid-pay category.

Image Source


Also read: Lodha aims to turn company debt-free by FY2024

Also read: Lodha IPO: Macrotech Developers to launch Rs 2,500 cr IPO

Realty firm Macrotech Developers will double its speculation on construction to Rs 2,800 crore in FY22 to accelerate works at different ventures, which were hampered a year ago because of the Covid-19 pandemic and nationwide lockdown. Mumbai-based Macrotech Developers, previously known as Lodha Developers, is one of the leading real estate firms in the country. The organisation got recorded on the stock exchange a month ago after the fruitful launch of its Rs 2,500 crore initial public offering (IPO). Macrotech Developers CEO and MD Abhishek Lodha told the media that the company would fundamentally focus on the advancement of residential and warehousing properties in the Mumbai Metropolitan Region (MMR) and Pune throughout the following few years. He also told the media that the housing request has been delayed from April-May. However, it is probably going to get up from the following month. Like the e-commerce area, he said that these two fragments had acquired significance during this pandemic. Lodha brought up that the absolute expenditure on construction declined the previous fiscal year as the works on the venture locales were affected for nearly a half year. The real estate developer delivered 2.7 million sq ft space in the last fiscal year as against 15.7 million sq ft in 2019-20. Lodha told the media its pre-sales stood at Rs 5,970 crore during the last fiscal year. In the 2019-20 fiscal, the organisation's business appointments remained at Rs 6,570 crore. While 10% contribution was from land monetisation in warehousing and industrial space, around 90% of pre-deals came from the residential portion and that too in an affordable and mid-pay category. Image Source Also read: Lodha aims to turn company debt-free by FY2024 Also read: Lodha IPO: Macrotech Developers to launch Rs 2,500 cr IPO

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000