Buy Macrotech Developers, target price Rs 1410: JM Financial

JM Financial has buy call on Macrotech Developers with a target price of Rs 1410. The current market price of Macrotech Developers is Rs 1032. Time period given by analyst is one year when Macrotech Developers Ltd. price can reach defined target.

Macrotech Developers Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 49691.46 Crore) operating in Real Estate sector.

Macrotech Developers Ltd. key Products/Revenue Segments include Property Development, Land Development Rights, Rental Income, Other Operating Revenue and Building Materials for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 3516.41 Crore, up 63.65 % from last quarter Total Income of Rs 2148.74 Crore and up 34.67 % from last year same quarter Total Income of Rs 2611.17 Crore. Company reported net profit after tax of Rs 538.03 Crore in latest quarter.

Investment Rationale
The brokerage believes Lodha should be able to take away market share in Bangalore from the incumbents. It remains positive on Macrotech driven by its ability to execute across markets and ticket prices and steady deleveraging possibilities. It maintains buy with a Mar’23 TP of INR 1410

Promoter/FII Holdings
Promoters held 82.22 per cent stake in the company as of 31-Mar-2022, while FIIs owned 14.91 per cent, DIIs 1.44 per cent.