The company said that it has achieved 48% of FY24 pre-sales guidance (H1: 69 billion, FY24 guidance: 145 billion) despite no new locations being launched in H1. With festive season commencing shortly and strong launch pipeline for H2 with launches of c. 7 new locations, it is on target to meet its full-year guidance.

Collections stood at Rs 2,750 crore, up 16% on a YoY basis in Q2FY24.

The company added 2 new projects totalling around 1.2 million square foot of saleable area and Rs 2,300 crore gross development value (GDV). It has already achieved Rs 14,300 crore of new business addition in 1HFY24, achieving >80% of FY24 guidance.

Net debt of the company is reduced by Rs 540 crore during Q2 FY24 to Rs 6,730 crore. “We remain on the path to achieve our full year guidance of getting our net debt to below 1x of OCF or 0.5x of equity, whichever is lower,” the company stated.

Macrotech Developers (Lodha Group) is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.

The real estate developer's net profit jumped 41.41% to Rs 404.98 crore despite of 13.87% surge in net sales to Rs 1,773.80 crore in Q3 FY23 over Q3 FY22.