Lodha-led Macrotech ends FY25 with record ₹17,630 crore pre-sales, PAT jumps 71%

Real estate major Lodha-led Macrotech Developers recorded pre-sales of ₹4,810 crore, a 14% year-on-year growth, during the January-March quarter, while its collections rose by 26% YoY to ₹4,440 crore. Operational revenues came in at ₹4,220 crore, up 5% YoY, while adjusted EBITDA increased 9% YoY to ₹1,460 crore. The company's Q4 FY25 profit after tax surged 38% to ₹920 crore on strong demand and strategic expansion across MMR, Pune, and Bengaluru.

For FY25, Lodha clocked 34% year-on-year growth in revenue to ₹13,780 crore, up from ₹10,320 crore in the previous financial year. Its profit after tax surged 71% to ₹2,770 crore, with PAT margins expanding to 20% from 15% the previous year. Pre-sales for the year grew to ₹17,630 crore, up 21% from FY24. In FY25, Lodha added 10 new projects, with a gross development value (GDV) of ₹23,700 crore.

Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. terms it the company's "best ever quarterly and annual performance", which he said showcased the buoyancy in demand for high quality homes in India.

"We delivered pre-sales of INR 176bn for FY25, thus meeting our guidance of delivering consistent and predictable 20% growth - now for four consecutive years since our IPO. Our focus on profitable growth has resulted in strong margins and Return on Equity (RoE), which provides us with continued strength to grow. Our strong collections are also indicative of our capability to convert sales into cashflow in a timely manner."

Lodha says this is the fifth consecutive quarter of achieving pre-sales greater than ₹4,000 crore. "The quarter also saw the strongest ever collections performance of ₹4,440 crore, which showcases strong execution capability of the organisation."

Lodha said the company's micro market-led super market strategy enabled it to deliver ₹2,500 crore of pre-sales in the Western Suburbs of MMR, registering 140% growth on YoY basis. "Our new Business Development for FY25 across MMR, Pune and Bengaluru stands at INR ~237bn of GDV (10 projects), thus surpassing our full year guidance."

During Q4, the company added two more projects in Pune, with a GDV of ₹4,300 crore. "With this, we now have nine locations across Pune. Having achieved over INR 25bn of pre-sales in Pune in FY25, the larger base of projects sets us on path to further increase our market share and continue to grow towards becoming the No. 1 developer in Pune. Similarly, we have entered FY26 with five locations in Bengaluru setting the stage for our growth phase."

He further said the company reduced its net debt by ₹310 crore to ₹3,990 crore, which is below its ceiling of 0.5x net debt/equity. "This is on the back of strong operating cash flow generation of INR 23.4bn during the quarter. On the back of strong operating and financial performance, India Ratings upgraded our credit rating to (AA/ Stable). Our exit cost of debt continues to go down and stands at 8.7% (down ~10 bps during the quarter) - among the lowest in the industry.”