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Macrotech Developers trades higher on reporting 40% growth in pre-sales during Q4FY24

05 Apr 2024 Evaluate

Macrotech Developers is currently trading at Rs. 1155.60, up by 18.15 points or 1.60% from its previous closing of Rs. 1137.45 on the BSE.

The scrip opened at Rs. 1151.10 and has touched a high and low of Rs. 1160.30 and Rs. 1137.45 respectively. So far 6593 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1277.45 on 11-Mar-2024 and a 52 week low of Rs. 440.50 on 25-Apr-2023.

Last one week high and low of the scrip stood at Rs. 1195.00 and Rs. 1110.00 respectively. The current market cap of the company is Rs. 114750.30 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 24.29% and 0.78% respectively.

Macrotech Developers has reported 40% growth in pre-sales at Rs 4,230 crore in the fourth quarter of FY24. For the full financial year, pre-sales stood at Rs 14,520 crore. Its collections for the March quarter grew by 20% to Rs 3,510 crore as compared to Rs 2,930 crore. Full-year collections stood at Rs 11,260 crore. The company has reduced its net debt to Rs 3,010 crore in Q4FY24 from Rs 7,070 crore during the same period last 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.

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