Lodha reported its best ever quarterly pre-sales performance of Rs 42.9bn despite the inauspicious ‘Shradhh’ period falling in September this FY (vs October in FY24). The company sold land for data centre at Palava to a global data center major at Rs ~120mn per acre, making the emergence of Palava as key data center hub. It also added four more projects in Pune and Bengaluru during the quarter with total GDV of Rs 55bn.
Abhishek Lodha, MD & CEO, Macrotech Developers, said, “Early signs of festive season suggest robust demand for quality branded housing on the back of strong affordability and consumer optimism. Intense competition among mortgage providers coupled with the expected downward trajectory for rate cycle in the 2HFY25 will provide further tailwind for the sector especially in the mid-income segment where we have a sizeable presence.”
It added two projects each in Pune and Bengaluru with GDV of Rs 17bn and Rs 38bn respectively. “Our project additions in Bengaluru will enable our planned acceleration from next year onwards. Overall business development for the 1st half of the fiscal stands at Rs 166bn, which is >75% of full year guidance of Rs 210bn,” he added.
It also acquired ~45 acres of land for its digital infrastructure (warehousing and industrial) business in Chennai, as well as increased its stake in the digital infrastructure platform to ~67% (from earlier 33%). This is in line with its strategy to grow annuity income to Rs 15bn by FY31.
It recently concluded the tender award for a 6MW capacity of renewable power through the Open Access Solar scheme. In partnership with IIT Delhi, it’s also piloting the use of greener LC3 concrete mix at Palava, which has the potential to reduce embodied carbon in concrete by up to 40%. The Unnati upskilling center has reached a significant milestone of benefiting 1,000 women.
