Macrotech Developers surges as its sales bookings up 17% in Q1FY24
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Developers is currently trading at Rs. 723.90, up by 21.30 points or 3.03% from its previous closing of Rs. 702.60 on the BSE.
The scrip opened at Rs. 709.95 and has touched a high and low of Rs. 729.75 and Rs. 704.15 respectively. So far 53563 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 729.75 on 07-Jul-2023 and a 52 week low of Rs. 355.50 on 24-Feb-2023.
Last one week high and low of the scrip stood at Rs. 729.75 and Rs. 657.60 respectively. The current market cap of the company is Rs. 69843.38 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 22.65% and 2.35% respectively.
Macrotech Developers has reported 17% growth in its sales bookings at Rs 3,350 crore in the first quarter of this fiscal year, mainly on better housing demand. The company had sold properties worth Rs 2,860 in the year-ago period.
The collections from customers against sales declined 8% to Rs 2,400 crore in Q1FY24 from Rs 2,620 crore during Q1FY23. Collections were impacted by seasonal factors (summer vacations and monsoon). Net Debt for India business stood at Rs 7,260 crore in Q1FY24.
Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.
