Macrotech Developers Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 27, 2024 at 12:14 pm
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Macrotech Developers Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 29,306 million compared to INR 17,738 million a year ago. Revenue was INR 29,587 million compared to INR 19,024 million a year ago. Net income was INR 5,033 million compared to INR 4,046 million a year ago. Basic earnings per share from continuing operations was INR 5.22 compared to INR 4.2 a year ago. Diluted earnings per share from continuing operations was INR 5.2 compared to INR 4.19 a year ago.
For the nine months, sales was INR 62,976 million compared to INR 62,150 million a year ago. Revenue was INR 63,856 million compared to INR 63,395 million a year ago. Net income was INR 8,836 million compared to net loss of INR 2,577 million a year ago. Basic earnings per share from continuing operations was INR 9.17 compared to basic loss per share from continuing operations of INR 2.68 a year ago. Diluted earnings per share from continuing operations was INR 9.14 compared to diluted loss per share from continuing operations of INR 2.68 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).