Macrotech Developers net debt rises 14% in Sep quarter to Rs 4,920 cr

Realty firm Macrotech Developers Ltd's net debt rose 14 per cent to Rs 4,920 crore during the second quarter of this fiscal year as it looks to invest more on land acquisition and construction.

Mumbai-based Macrotech Developers, which sells its projects under the Lodha brand, is one of the leading developers in the country.

According to its latest operational update, the company's net debt stood stood at Rs 4,920 crore as on September 30, 2024.

"Our net debt is Rs 49.2 billion, well below our ceiling of 0.5 times net debt/equity," the company said.

Macrotech Developers' net debt was Rs 4,320 crore as of June 30, 2024, and Rs 3,010 crore at the end of the 2023-24 fiscal year.

Earlier this month, Macrotech Developers reported a 21 per cent increase in sales bookings to a record Rs 4,290 crore during the July-September period on better housing demand.

The company had sold properties worth Rs 3,530 crore in the year-ago period.

"We achieved our best-ever quarterly pre-sales of Rs 42