Macrotech Developers Acquires Land for ₹16,600 Crore Housing Projects

Macrotech Developers, a real estate company known for its Lodha brand, has acquired seven land parcels in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru to build housing projects worth ₹16,600 crore. The company is acquiring land through direct purchases and partnerships with landowners for joint development.

In its recent operational update, Macrotech announced that it has added four new projects in Pune and Bengaluru, which together have a gross development value (GDV) of ₹5,500 crore. So far this fiscal year (2024-25), the company has added projects valued at ₹16,600 crore, achieving over 75% of its full-year target of ₹21,000 crore.

In the April-June quarter, Macrotech acquired three land parcels in MMR and Pune, with a revenue potential of ₹11,100 crore. However, the company did not specify how many of these transactions were outright purchases.

Macrotech expressed optimism about future opportunities in the residential market, citing a strong pipeline of business development. Earlier this month, the company reported a 21% increase in sales bookings, reaching a record ₹4,290 crore for the July-September period, compared to ₹3,530 crore during the same time last year. Despite the ‘Shradhh’ period in September—which is generally considered inauspicious for buying property—the company still achieved its highest quarterly pre-sales to date.

Looking ahead, Macrotech aims for a 20% growth in sales bookings this fiscal year. Last year, the company saw a 20% increase in bookings, totaling ₹14,520 crore, up from ₹12,060 crore the year before. This year, it has set a target of selling properties worth ₹17,500 crore.

Macrotech Developers has delivered about 100 million square feet of real estate and is currently developing over 110 million square feet in its ongoing and planned projects.