Macrotech Developers surges 5%. Here’s why

Shares of real estate player Macrotech Developers rose nearly 5% to Rs 1,039.95 on Thursday after the company achieved its best-ever Q2 pre-sales performance of Rs 3,148 crore, showing a growth of 57% on a YoY basis.

The company’s H1 sales totalled Rs 6,004 crore, which is 52% of the full-year guidance of Rs 11,500 crore.

“Our strong performance in H1FY23, despite rising home loan rates and rising prices, evidences the strength of housing demand from Tier-1 developers in India and indicates the start of a long-term upcycle for quality housing in India,” Macrotech Developers said in a BSE filing.


The collections of the company were Rs 2,375 crore in 2QFY23 up 24% on a YoY basis and net debt was reduced by Rs 60 crore to Rs 8,796 crore.

“We added 4 new projects having 2.2 million sq. ft. of the saleable area with a GDV of Rs 3,100 crore across various micro-markets of MMR and Pune. In H1, we have added Rs 9,300 crore of GDV which is 62% of our full-year guidance of Rs 15,000 of GDV addition,” the company said.

At 2.22 pm, the scrip was trading 1.66% higher at Rs 1,009.40 over its previous day’s closing price of Rs 992.90. However, the stock has fallen nearly 13% in the last six months, while it has dropped about 19 per cent year-to-date.