Macrotech Developers inches up on signing multiple joint development pacts in FY22
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Macrotech Developers is currently trading at Rs. 1170.80, up by 6.30 points or 0.54% from its previous closing of Rs. 1164.50 on the BSE.
The scrip opened at Rs. 1174.95 and has touched a high and low of Rs. 1188.00 and Rs. 1163.45 respectively. So far 5570 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1538.65 on 01-Dec-2021 and a 52 week low of Rs. 421.15 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 1248.00 and Rs. 1121.20 respectively. The current market cap of the company is Rs. 56300.13 crore.
The promoters holding in the company stood at 82.22%, while Institutions and Non-Institutions held 16.45% and 1.33% respectively.
Macrotech Developers has signed multiple joint development agreements (JDAs) with land owners to construct real estate projects, with an estimated sales revenue potential of Rs 15,000 crore in FY22, as part of its strategy to expand its business operations amid rising demand of residential properties. The company expects to achieve similar additions in new projects in FY23, on the back of a robust pipeline of new deals. Collections from customers rose 70% to Rs 8,597 crore during the last fiscal. Net debt of India business reduced to Rs 9,310 crore as on March 31, 2022.
Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020.
