Macrotech Developers rises on entering into 11 joint development agreements with landowners
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Macrotech Developers is currently trading at Rs. 1214.70, up by 10.00 points or 0.83 % from its previous closing of Rs. 1204.70 on the BSE.
The scrip opened at Rs. 1215.00 and has touched a high and low of Rs. 1232.30 and Rs. 1212.60 respectively. So far 2979 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. 1340.40 and Rs. 1184.00 respectively. The current market cap of the company is Rs. 58546.36 crore.
The promoters holding in the company stood at 88.50%, while Institutions and Non-Institutions held 9.80% and 1.70% respectively.
Macrotech Developers has entered into 11 joint development agreements (JDAs) with landowners so far this fiscal year, with an estimated sales revenue potential of Rs 14,500 crore. The company has projects in Mumbai Metropolitan Region (MMR) and Pune markets. It has been aggressively forming JDAs to expand presence in the micro-markets of these two cities.
On operational performance during the third quarter of this fiscal year, Macrotech Developers reported 40 per cent increase in its sales bookings to Rs 2,608 crore from Rs 1,862 crore in the year-ago period. The collections from customers against sales rose 44 per cent to Rs 2,127 crore from 1,472 crore during the period under review.
Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020.
