Macrotech Developers Q4 Results: PAT jumps 40% YoY to Rs 1,769 cr; to issue 1:1 bonus shares

Marcrotech Developers today reported a 40% YoY jump in its FY23 PAT (adjusted for forex and exceptional items) at Rs 1,769 crore on the back of record pre sales. The net profit for the March quarter stood at Rs 751 crore.

The Q4FY23 pre sales were worth Rs 3,025 crore while the annual pre-sales jumped over 34% YoY to Rs 12,064 crore. The revenue from operations for the financial year was at Rs 9,470 crore, up 3% YoY while it stood at Rs 3,255 crore for Q4FY23.

The embedded EBITDA margins on pre-sales stood at 31% for Q4FY23 while at 32% for FY23. Meanwhile, the adjusted EBITDA for Q4FY23 was at Rs 977 crore and at Rs 2,970 crore for the entire FY23, which was down 8% YoY.

The company managed to reduce its net debt by Rs 2,229 crore to Rs 7,071 crore. It added 12 projects in FY23 for Rs 19,800 crore GDV.

Macrotech Developers on Saturday announced that its board has approved issue of bonus shares in the proportion of one new fully paid up equity share of Rs 10 each for every existing share of Rs 10 each held by members of the company on record date. The company also announced a dividend of Rs 2 per share.

The company will seek shareholders’ approvals on bonus issue through postal ballot.

Abhishek Lodha, MD & CEO, Macrotech Developers, said, the company reported its best ever annual pre-sales performance.

“What is even more heartening is that we have surpassed our full year guidance in the face of the steep increase in interest rates,” he said.

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