The company’s first project in Bengaluru received strong response, with Phase-I being sold out in 3 days.

"For the first 3 quarters of FY24, our pre-sales are Rs 10,300 crore, showcasing YoY growth of c. 14% and keeping us on track to deliver our pre-sales guidance of Rs 14,500 crore for FY24,” Macrotech said in a statement.

The company’s collections for Q3 FY24 added up to Rs 2,590 crore, down 3% YoY and down 6% sequentially.

Macrotech further informed that it has added 3 projects with approximately 2 million square feet of saleable area for a GDV of approximately Rs 6,000 crore.

The real estate developer’s business development for 9M FY24, at Rs 20,300 crore, has already surpassed its full year guidance of Rs 17,500 crore for the year.

The company has completely exited its UK investments, with the receipt of entire balance.

Net debt at the end of Q3 FY24 was Rs 6,750 crore as against Rs 8,040 crore at the end of Q3 FY22 and Rs 6,730 crore at the end of Q2 FY24.

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 company reported a consolidated net profit of Rs 201.9 crore in Q2 FY24 as against a net loss of Rs 933 crore in Q2 FY23. Revenue from operations remained flat at Rs 1,749.6 crore during the period under review.