Buy Macrotech Developers, target price Rs 1480: JM Financial

JM Financial has buy call on Macrotech Developers with a target price of Rs 1480. The current market price of Macrotech Developers Ltd. is Rs 1162.

Macrotech Developers Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 115537.92 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-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 2918.30 Crore, down -28.54 % from last quarter Total Income of Rs 4083.90 Crore and up 74.56 % from last year same quarter Total Income of Rs 1671.80 Crore. Company reported net profit after tax of Rs 476.30 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 72.13 per cent stake in the company as of 30-Jun-2024, while FIIs owned 24.18 per cent, DIIs 2.95 per cent.