Macrotech developers to invest £ 8,000 in FY26 to land in Mumbai, Bengaluru, Pune | Mint

Realty Firm MacroTech Developers Ltd. plans to invest more than £ 8,000 crore this fiscal to acquire land packs in Mumbai Metropolitan Region (MMR), Pune and Bengaluru for building housing projects as part of its expansion plan. Macrotech developers, who sell properties under ‘Lodha Brand’, are one of the largest real estate companies in the country. In an interview with PTI, Macroopers Executive Director, Sushil Kumar Modi, noted that housing demand is still strong, especially for major brands that have a strong record to execute projects. To expand matters, he said the company set a target this financial year to obtain various land packs to develop projects, which could earn an £ 25,000 revenue. Under the new business development, Macrotech developers buy land right and also work with landowners. In 2024-25, the company acquired ten land packs over MMR, Pune and Bengaluru. These land packs will be used to develop projects with an estimated turnover potential of £ 23,700 crore. “Over the past financial year, we have invested £ 7,000 for new business development. To add new projects worth £ 25,000, we will have to invest more than £ 8,000 in the current fiscal,” Modi said. For joint development agreements (JDAs) with landowners, the company must make some prepayments to landowners. On other operational statistics, Modi said the company gave a guidance of £ 21,000 crore sales reservations for this fiscal, almost 20 percent higher than the fiscal 2024-25. Earlier this month, the Mumbai firm increased a 21 percent increase in its sales discussions during 2024-25 fiscal to a record £ 17,630 of £ 14,520 in the financial year of 2023-24. The pre-sales leadership for 2024-25 was £ 17,500 crore. Macrotech developers Results Thursday, Macrotech reported a 38 percent increase in its consolidated net profit to £ 921.7 for the latest quarter ended March on higher income. The net profit stood at £ 665.5 crore in the previous year. The total revenue rose from the last fiscal to 4,420.3 crore in the fourth quarter of £ 4,083.9 crore in the corresponding period of the previous year. The net profit rose to £ 2,764.3 crore in 2024-25 fiscal of £ 1,549.1 crore in the previous year. The total revenue grew to £ 14,169.8 crore in the last fiscal of £ 10,469.5 crore in the 2023-24. Macrotech developers have so far delivered about 100 million square feet of real estate and are currently developing more than 110 million square feet under its ongoing and planned portfolio. First published: 27 Apr 2025, 04:19 PM IST