Macrotech Developers is currently trading at Rs. 938.55, up by 10.70 points or 1.15% from its previous closing of Rs. 927.85 on the BSE.
The scrip opened at Rs. 929.05 and has touched a high and low of Rs. 941.25 and Rs. 927.40 respectively. So far 1597 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1538.65 on 01-Dec-2021 and a 52 week low of Rs. 814.85 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 1009.00 and Rs. 920.70 respectively. The current market cap of the company is Rs. 44694.29 crore.
The promoters holding in the company stood at 82.20%, while Institutions and Non-Institutions held 16.47% and 1.33% respectively.
Macrotech Developers is planning to launch 16 new projects in the second half of this fiscal with an estimated sales potential of Rs 10,300 crore as it seeks to tap rising housing demand. The company, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making an entry into the Bengaluru market with one housing project. These projects would be a mix of fully-owned and joint development with landowners.
During the April-September period, the company has clocked record sales bookings of Rs 6,004 crore against Rs 2,960 crore in the corresponding period of the previous year. It has already met more than half of its Rs 11,500 crore sales guidance for the full 2022-23 financial year.
Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.