Macrotech Developers Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 28, 2023 at 01:15 pm
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Macrotech Developers Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 17,496 million compared to INR 17,654 million a year ago. Revenue was INR 17,551 million compared to INR 17,612 million a year ago. Net income was INR 2,019 million compared to net loss of INR 9,330 million a year ago. Basic earnings per share from continuing operations was INR 2.09 compared to basic loss per share from continuing operations of INR 19.53 a year ago. Diluted earnings per share from continuing operations was INR 2.09 compared to diluted loss per share from continuing operations of INR 19.53 a year ago.
For the six months, sales was INR 33,670 million compared to INR 44,412 million a year ago. Revenue was INR 34,269 million compared to INR 44,370 million a year ago. Net income was INR 3,803 million compared to net loss of INR 6,623 million a year ago. Basic earnings per share from continuing operations was INR 3.95 compared to basic loss per share from continuing operations of INR 13.75 a year ago. Diluted earnings per share from continuing operations was INR 3.94 compared to diluted loss per share from continuing operations of INR 13.75 a year ago.
Macrotech Developers Limited is engaged in the business of real estate property development in India and the United Kingdom. The Company has a portfolio of housing projects, premium and luxury housing projects, industrial and logistics park segments. Its housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road). Its townships are located at Palava (Navi Mumbai, Dombivali Region) and Upper Thane (Thane outskirts). Its premium and luxury housing projects include Lodha Park (Worli), Lodha World Towers (Lower Parel), Lodha Venezia (Parel) and New Cuffe Parade (Wadala). In addition, it has projects under the Lodha Luxury brand, which comprises small-scale, high-value developments such as Lodha Altamount (Altamount Road), Lodha Seamont (Walkeshwar) and Lodha Maison (Worli).