Macrotech Planning to Invest Rs 3,800 Crore on Realty Projects

Real estate company Macrotech Developers aims to provide 10,000 homes by March next year and plans to invest Rs 3,800 in the construction of various new projects underway this year.

The company, which raised and went public last year through an initial public offering (IPO) of Rs,2500 crore, markets its products under the Lodha brand.

He attributed the increase in construction costs to a significant increase in the number of completed projects and a powerful pipeline of new launches. In addition, Lodha said the second wave of the COVID-19 pandemic affected construction work in the June quarter of the previous fiscal year. 

Macrotech Developers are optimistic about housing demand and have set an ambitious goal of increasing sales bookings this year by 27% from last year's Rs 9,024 crore to Rs 11,500 crore.

Total revenue increased from Rs 5,771.65 crore in the previous year to Rs 9,579.17 crore in 2021. Mumbai-based Macrotech Developers is among the leading real-estate developers in the country.