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Mumbai based Macrotech Developers has had an eventful and fruitful year, barring a few hiccups. The realty firm presently headed by Abhishek Lodha reportedly delivered 4.4 million square feet of space creating an estimated Rs 8,000 crores in revenues in this fiscal year alone. Although the company reported a consolidated net loss of Rs 933 crores for the quarter ending September 2022, their net profit has increased by 28 per cent YoY. The loss booked has been largely due to an exceptional loss suffered on account of economic turbulence in the United Kingdom where they have two projects.
Marcotech Developers is now gearing up launch 16 new projects totalling to 7.3 million square feet with an estimated sales value of over Rs 10,000 crores during the second half of this fiscal year. The projects will be developed through a combination of JDAs and fully owned projects. Having recorded sales bookings of Rs 6,000 crores so far, the company has already overshot its half year sales target benchmark for FY 2022-23.
Marcotech Developers is a listed real estate company in India. They sell all the real estate projects under the brand name “Lodha”. The company has delivered over 89 million square feet of space since its inception, with plans to building another 100 million square feet soon. They have a presence in multiple cities in India and have projects in the United Kingdom. According to a recent press release, the company claims to possess over 4,000 acres of developable land that they intend to use to create integrated townships, logistical centres, industrial warehouses to name a few.
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