Indian real estate firm Macrotech Developers reports a 43.5% increase in net debt to Rs 4,320 crore in Q1, driven by land acquisition and construction.
Macrotech Developers, a major Indian real estate firm, reported a 43.5% net debt increase to Rs 4,320 crore in the first quarter of this fiscal year, resulting from higher land acquisition and construction investments. Despite this, the firm's net debt remains at 0.24 times its equity, below the 0.5 times ceiling. The company also revealed a 20% growth in sale bookings to Rs 4,030 crore, with customer collections rising by 12% to Rs 2,690 crore. Macrotech Developers anticipates a 21% annual growth in sale bookings, reaching Rs 17,500 crore by the fiscal year's end.
August 18, 2024
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