Buy Macrotech Developers, target price Rs 1245: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Macrotech Developers with a target price of Rs 1245. The current market price of Macrotech Developers is Rs 946.7.

Macrotech Developers, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 45748.26 Crore) operating in Real Estate sector.

Macrotech Developers key Products/Revenue Segments include Property Development, Land Development Rights, Rental Income, Other Operating Revenue and Building Materials for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1902.44 Crore, up 8.02 % from last quarter Total Income of Rs 1761.23 Crore and down -11.46 % from last year same quarter Total Income of Rs 2148.74 Crore. Company has reported net profit after tax of Rs 405.01 Crore in latest quarter.

The company’s top management includes Mr.Mukund Manohar Chitale, Mr.Abhishek Mangal Prabhat Lodha, Mr.Rajendra Narpatmal Lodha, Mr.Raunika Malhotra, Mr.Rajinder Pal Singh, Mr.Ashwani Kumar, Mr.Lee Polisano, Mr.Rajeev Bakshi, Ms.Harita Gupta. Company has MSKA & Associates as its auditors. As on 31-03-2023, the company has a total of 48 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of March 2023 quarter, while FIIs owned 18.98 per cent, DIIs 3.68 per cent.