Macrotech Developers Limited will invest Rs 4,500 crore on real estate projects in the current financial year. The company wants to increase its execution capacity in view of the huge demand for houses. Macrotech Developers, which sells its properties under the Lodha brand name, is one of the leading real estate companies in the country.
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Speaking to PTI, Abhishek Lodha, CEO of Macrotech Developers, said demand for residential properties continues to rise despite rising interest rates and house prices. 12,014 crore and in the current financial year the company has set a target of Rs 14,500 crore with a growth of 20 percent.
Abhishek Lodha said the company has generated a net cash flow surplus of Rs 4,600 crore, which shows its ‘strength’ in converting land into real estate products and then construction as well as timely sales.
When asked about the construction expenditure in the last financial year and the target for 2023-24, Lodha said that in the financial year 2022-23, we spent a little over Rs 3,300 crore on construction. This year there is a plan to increase it by one-third. An investment of around Rs 4,300-4,500 crore is planned on manufacturing. He said, “Our sales bookings increased by 34 percent in the last financial year. Therefore, the cost of manufacturing will also increase.