Buoyed by Strong Demand For Quality Housing, Macrotech Developers to Invest INR 4500 Crore Rupees This Fiscal Year

Macrotech Developers to Invest INR 4500 Crore Rupees This Fiscal Year

Macrotech Developers Ltd will invest 4,500 crore rupees in the construction of real estate projects as it seeks to increase its execution capabilities in response to robust housing demand this fiscal year.

Macrotech Developers, headquartered in Mumbai and selling its properties under the Lodha brand, is one of the country's prominent real estate companies.

Abhishek Lodha, managing director and chief executive officer of Macrotech Developers, noted that demand for residential properties remains robust despite increases in mortgage rates and home prices.In 2022-23, its sales reservations increased 34% to 12,014 crore INR, and the company has set a goal of 20% growth to 14,500 crore INR for the current fiscal year.

Abhishek Lodha stated that the business produced a net operational cash flow surplus of INR 4,600 crore, which demonstrates its ability to convert land into real estate products and then promptly construct and market them.