Macrotech Developers - Momentum Sustains In Festive Season: ICICI Securities

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 value 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..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Macrotech Developers - Momentum Sustains In Festive Season: ICICI Securities

Macrotech Developers - Momentum Sustains In Festive Season: ICICI Securities

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