Macrotech Developers zooms on planning to launch projects worth Rs 12,000 crore by March next year
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Macrotech Developers is currently trading at Rs. 784.45, up by 24.85 points or 3.27% from its previous closing of Rs. 759.60 on the BSE.
The scrip opened at Rs. 769.70 and has touched a high and low of Rs. 794.00 and Rs. 769.70 respectively. So far 15360 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 829.00 on 11-Oct-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. 794.00 and Rs. 702.00 respectively. The current market cap of the company is Rs. 75323.95 crore.
The promoters holding in the company stood at 74.93%, while Institutions and Non-Institutions held 24.02% and 1.05% respectively.
Macrotech Developers is planning to launch housing projects worth Rs 12,000 crore by March next year to tap strong consumer demand for quality homes from branded players. As per the company, with strong launch pipeline, it would easily achieve the Rs 14,500 crore sales booking target fixed for the current fiscal year as against Rs 12,070 crore in the previous year. Macrotech Developers, which sells properties under 'Lodha' brand, has already achieved sales bookings of Rs 6,890 crore during the first six months of this fiscal.
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.
