This realty sector company has reported a 39% rise in Q4FY23 net profit
The company has reported robust results on a consolidated basis.
About the Q4 result
Macrotech Developers on a consolidated basis has reported a rise of 39.24% in its net profit at Rs 749.16 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 538.03 crore for the same quarter in the previous year. However, the total income of the company decreased by 6.04% at Rs 3271.71 crore for Q4FY23 as compared to Rs 3481.92 crore for the corresponding quarter previous year.
On a sequential basis, the company has reported a rise of 83.53% in its net sales at Rs 3255.38 crore for Q4FY23 compared to Rs 1773.80 crore for Q3FY23. Net sales of the company decreased by 5.49% compared to Q3FY22.
Share price movement
Macrotech Developers is currently trading at Rs 912.15, up by 5.80 points or 0.64% from its previous closing of Rs 906.35 on the BSE.
The scrip opened at Rs 925 and has touched a high and low of Rs 925 and Rs 908 respectively. So far 8,410 shares were traded on the counter.
The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 1,191 and a 52-week low of Rs 711. The current market cap of the company is Rs 44,009 crore.
The promoters holding in the company stood at 74.99%, while Foreign Institutions and Domestic Institutions held 18.98% and 3.68% respectively.
Company profile
Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020. Currently, it has residential projects in the (Mumbai Metropolitan Region) MMR and Pune. In 2019, it forayed into the development of logistics and industrial parks and entered a joint venture with ESR Mumbai 3 Pte. (ESR), a subsidiary of ESR Cayman, an Asia Pacific-focused logistics real estate platform. It also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.
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