Macrotech Developers from 11 joint Ventures to develop projects worth Rs 14,500 crore
The Realty firm, Macrotech has formed 11 joint development agreements with landowners, with an estimated sales revenue of Rs 14,500 crore. The company got listed on the stock exchange after raising Rs 2,500 crore in its IPO (Initial Public Offering). With current projects in Mumbai Metropolitan Region and Pune markets, Metrotech developers are continuously forming JDAs for the expansion of its business.
The company also reported a 40% sales increase in the third quarter of this fiscal year, taking its sales to Rs 2,608 crore from Rs 1,862 crore the previous year.
Macrotech Developers is also planning to enter the property market of Bengaluru seeing the sire in housing demand from IT/ITes employees. The company has two housing projects in London from which it is expecting to have a surplus of Rs 1,500-2,000.