BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Macrotech Developers Ltd. achieved Q3 FY22 India business sales bookings of Rs 26.1 billion versus our estimate of Rs 23.9 billion (up 40% YoY and 30% QoQ) as the sales momentum seen in Q2 FY22 continued into the festive season in October-November 2021.
The company has achieved nine months-FY22 sales bookings of Rs 55.7 billion in its India business and we believe that it is on track to achieve its FY22 sales guidance of Rs 90 billion (our estimate at Rs 87.7 billion).
Further, Macrotech Developers signed six new joint development agreements in Q3 FY22 having gross development of Rs 100 billion and the recent qualified institutional placements issuance of Rs 40 billion has resulted in India business net debt reducing to Rs 99.3 billion.
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