Macrotech Developers (Lodha) clocks pre-sales of Rs 957 cr in Q1FY22

New Delhi: Lodha Grp, now renamed as Macrotech Developers Ltd, has registered pre-sales of Rs 957 crore in April-June quarter, a decline of 62 percent from Rs 2,531 crore recorded in the immediately preceding quarter.

However, the pre-sales bookings jumped 88 percent from Rs 509 crore that the company clocked a year ago. 

The customer collections of the company stood at Rs 1,714 crore in first quarter of the ongoing fiscal, a decline of about 18 percent sequentially. However, it was 346 percent higher as against the same period a year before.

The Mumbai-based company said that it has lowered consolidated net debt by Rs 3,600 crore during the first quarter.

The realty player has entered into JDAs (joint development agreements) for two projects having 1.5 million square feet of total saleable area.

“Bring a consumer-centric brand and fulfilling the evolving customer requisites, the stellar performance for the quarter is also basis the current sentiments around the sector which is at an all-time positive. Moreover, the upsurge in Group’s business is a testament to the fact that home is considered the safest haven, both emotionally as well as financially," the company said in a statement.