The company's FY23 pre-sales stood at Rs 12,064 crore, up by 34% from Rs 9,024 crore recorded in FY22, surpassing guidance of Rs 11,500 crore despite of over 200 bps increase in mortgage rates during the year.

Collections stood at Rs 2,933 crore, up 3% on a YoY basis in Q4 FY23 and Rs 10,606 crore for FY23 up 23% on a YoY basis.

The company said that FY23 has witnessed addition of 12 new projects having approximately 14 million sq. ft. of saleable area with GDV of approximately Rs 19,800 crore across various micro-markets of MMR, Pune and Bengaluru. It has surpassed FY23 guidance of Rs 15,000 crore.

The real estate developer added that Q4 FY23 saw addition of one project with a GDV of Rs 2,000 crore for 1.5 million square feet of area. Business growth robustness continued to strengthen with significant number of land proposals under evaluation.

Net debt for FY23 reduced by Rs 2,229 crore to Rs 7,071 crore. During Q4 FY23, net debt reduced by Rs 971 crore showcasing business strength to continue delivering surplus operating cash even while growing, stated Macrotech.

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.

The scrip advanced 0.66% to currently trade at Rs 905.30 on the BSE.