Quote on Macrotech Developers Limited by Mr. Yash Gupta, Angel One Ltd
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Below is quote on Macrotech Developers Limited by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Lodha Developers has reported very strong quarterly pre-sales of ₹2003, up by 88% YoY, ₹1066 crores in Q2FY21. Along with this, the company has also reported improvement in collection, collecting up by 73% to ₹1912 crores in Q2FY22 from ₹1107 crores in Q1FY22.
The company's pre-sales rebounded very strongly, despite some restriction in July due to 2nd wave covid, we expect festival season to be much better for the company. Company has also announced one new project in Mumbai of salable area of 0.7 Mn sqft via JDA (Joint Development Agreement). Company has decreased its debt from ₹16,965 in Q1FY22 to ₹12,508 in Q2FY22. We have a neutral rating on Lodha Developers.
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