This Lodha Group company, which is in the business of real estate developers in terms of presales and development pipeline in India, with a presence in MMR, Pune, and entered in Bengaluru, surged upto 5 percent after the company bought ~3.4 acre worth Rs. 279 crore from Unichem Labs.
Share Price Movement
In Tuesday’s trading session, Macrotech Developers share price was up by 5.5 percent to the day’s high of Rs. 1,136.70. The stock reiterated from the day’s high and was trading at Rs. 1,131.40 per share, which was up by 5.09 percent from the previous close of Rs. 1,076.60 per share.
In the past year, the stock has given around 4.37 percent negative returns, and compared to the Nifty Index, Macrotech Developers has underperformed.
What happened
The company’s stock surged after the company signed a deal to acquire a 3.4 acre land parcel in Mumbai Jogeshwari West from Unichem Laboratories for more than Rs. 279 crore as per sources.
As per Economic Times, the plot located at Prabhat Estates off Swami Vivekananda Road, which includes an 82,000 sqft building that earlier served as Unichem’s registered office.
Future Plans
Macrotech is aiming at a market share of 15 percent in the IT city (Bengaluru) by the end of the decade. They plan to develop with more than 64 acres with a Gross Development Value of ~Rs. 8,600 crore.
Financials
In its latest filing for the quarter ending December 2024, the company reported a 39.30 percent rise in revenue, reaching Rs. 4,083 crore compared to Rs. 2,931 crore in Q3FY24. During the same period, net profit increased by 87.12 percent to Rs. 945 crore in Q3FY25, compared to Rs. 505 crore in Q3FY24.
Company Profile
Macrotech Developers, formerly Lodha Developers, is a leading Indian real estate company focused on sustainable residential and commercial projects. It operates in major cities like Mumbai and Pune, with a strong presence in the MMR region.
Written by – Santhosh S
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