Buy Macrotech Developers, target price Rs 1425: JM Financial

JM Financial has buy call on Macrotech Developers with a target price of Rs 1425. The current market price of Macrotech Developers is Rs 1072.1. Time period given by analyst is 12 months when Macrotech Developers price can reach defined target.

Macrotech Developers, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 51669.61 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 31-12-2022, the company has a total of 48 Crore shares outstanding.

Investment Rationale
The brokerage remains positive on Macrotech as it continues to execute well across ticket prices and micro-markets and has substantial projects on owned land leading to higher margins and sustained launch momentum.