Macrotech Developers Q4 Results Review - Achieves Guidance On Pre-Sales, Debt: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Macrotech Developers Ltd. achieved bookings of Rs 42.3 billion (in line with estimate), up 40%/24% YoY/QoQ. Further, the company achieved its guidance, recording pre-sales of Rs 145 billion for FY24, up 20% YoY.  Sales volumes for Q4 increased 32% YoY to 3.3 million square feet and blended realisation rose 6% during the same period. In FY24, the company achieved volume of 11 msf, up 19% YoY, and raised prices by 5% at the portfolio level.The company had a successful foray in Bengaluru as both its projects received strong response with 63% of the total launched inventory getting absorbed, resulting in bookings of Rs 12 billion (8% of overall sales). .In line with its medium-term target, the company expects to deliver a 20% growth in pre-sales to Rs 175 billion in FY25. The growth will be largely driven by ~Rs 300 billion of ready and ongoing inventory and 10 msf of launches with a gross development value of ~Rs 121 billion, which can increase further with project additions in FY25. .Financial Performance: Macrotech Developers reported the highest ever quarterly revenue of Rs 40 billion, up 23% YoY (8% above estimate). For FY24, revenue stands at Rs 103 billion, up 9% YoY. Ebitda (excluding other income) increased 36% YoY to Rs 10.5 billion, 13% above our estimate, as margin improved 250 bp YoY to 26%. However, profit after tax came in at Rs 6.6 billion, down 11% YoY, on account of higher depreciation and tax. Full-year PAT stood at Rs 16 billion, up 5% YoY..Click on the attachment to read the full report:.Aavas Financiers Q4 Results Review - Disbursement Up 39% QoQ: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Macrotech Developers Q4 Results Review - Achieves Guidance On Pre-Sales, Debt: Motilal Oswal

Aiming for 20% bookings growth in FY25

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