Macrotech Developers’ Share Price Rise After Land Acquisition in Mumbai: Key Highlights

Market Performance

Macrotech Developers' stock increased 4 per cent, reaching Rs 1,117 during the morning trade on March 11. However, the company's share price has declined by over 20 per cent since the beginning of the year.

Land Acquisition in Mumbai

Macrotech Developers has agreed to acquire a 3.4-acre land parcel in Mumbai's Jogeshwari West from Unichem Laboratories. The deal is valued at over Rs 279 crore. The acquired plot, situated at Prabhat Estate off Swami Vivekananda Road, includes an 82,000 sq ft office building previously serving as Unichem Laboratories' registered office.

In the first nine months of the financial year 2024-25, the company expanded its project portfolio by adding eight new developments across Mumbai Metropolitan Region (MMR), Bengaluru, and Pune. The cumulative development value of these projects stands at Rs 19,500 crore, achieving over 90 per cent of the company's annual target.

Financial Performance

For the October-December quarter of the 2024-25 fiscal year, Microtech Developers reported significant growth across key financial metrics:

• Revenue: Rs 4,083 crore, reflecting a 39 per cent year-on-year increase.
• Net Profit: Rs 944.4 crore, marking a 66 per cent year-on-year rise.
• Pre-Sales Bookings: Increased by approximately 32 per cent year-on-year to Rs 4,510 crore, the highest in any quarter for the company.
• Collections: Reached Rs 4,290 crore, recording a 66 percentage increase compared to the previous year.

Sector Trends

The real estate market has witnessed robust demand, particularly for high-quality residential projects. Macrotech Developers has noted strong consumer interest, which has contributed to its performance in recent quarters.

Conclusion

Macrotech Developers' recent acquisition aligns with its strategy of expanding its presence in key metropolitan areas. With a growing portfolio and strong financial results, the company continues to advance its development targets. In the coming months, consumer demand and market conditions will shape the real estate sector's trajectory.