Macrotech Developers target ₹3,800-cr investment this fiscal
Real estate building major, Macrotech Developers, has plans to invest ₹3,800 crore in various new projects during the current fiscal and has set a target to deliver 10,000 homes by next March, said MD and CEO Abhishek Lodha, adding that the company, which got listed last year by raising ₹2,500 crore through its Initial Public Offer (IPO), markets its product under the Lodha brand. He attributed the increase in expenditure on construction to a significant rise in the number of projects being executed and a pipeline of new launches. Moreover, construction work got affected during the June quarter last fiscal because of the second wave of the pandemic. The company delivered 6,000 housing units last fiscal and the target is 10,000 units for 2022-23. Buoyed by the increase in housing demand, Macrotech Developers has set an aggressive target to push its sales bookings by 27 per cent during the current fiscal at ₹11,500 crore as against ₹9,024 crore in the previous year. The company will continue to focus on the Mumbai Metropolitan Region (MMR) and Pune. The company is exploring opportunities in the Bengaluru market and a final decision will be taken in the next few months. Macrotech Developers will continue its focus to expand its portfolio in a capital-light manner by partnering with land owners and making investments in construction only.
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