Lodha Developers Limited — PPTs, 25-01-2025: Investor Presentation

**Financial Highlights:**

Macrotech Developers reported robust performance for the quarter and nine months ended December 31, 2024. Pre-sales reached INR 45.1 billion, marking a 32% YoY increase, and cumulative pre-sales for 9MFY25 totaled INR 128.2 billion, on track for a 20% growth target for FY25. The company’s operating cash flow was strong at INR 57 billion for FY24, with a net debt reduction of INR 41 billion, achieving a net debt-to-equity ratio of just 0.22x. Adjusted EBITDA for the quarter increased by 47.6% to INR 15.9 billion, while net profit surged 66.2% to INR 9.4 billion.

**Strategic Initiatives and Growth Drivers:**

Macrotech is focusing on consistent growth with plans for a 20% CAGR in housing, capitalizing on significant market opportunities in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company is building its annuity income stream, targeting INR 15 billion by FY31 through various segments, including digital infrastructure and retail. Additionally, a projected sales potential of over USD 175 billion in MMR and Upper Thane over the next three decades highlights extensive growth potential.

**Business Developments:**

In the first nine months of FY25, Macrotech added one major project in Bengaluru with a Gross Development Value (GDV) of INR 28 billion and successfully completed several other acquisitions. The company is also making strides in its ESG commitments, recently achieving recognition for its sustainability practices.

**Market Position and Competitive Advantage:**

Macrotech maintains a strong market presence with approximately 10% market share in MMR, and its diversified portfolio positions it well to capitalize on ongoing urbanization trends and homeownership growth, targeting emerging middle-class consumers.

**Investor Implications:**

The financial and operational metrics indicate a positive outlook for Macrotech, supported by strong demand in key markets and ongoing expansion initiatives. Investors should watch closely as the company continues to execute its growth strategy and enhance shareholder value through steady debt management and cash flow generation.