India's Macrotech Developers gains on strong Q2 pre-sales

Lodha Developers

05/10/2023 06:24

** Shares of Indian real-estate firm Macrotech Developers
 MACE.NS  rise as much as 3.2%
    ** Co on Thursday said it saw best ever quarterly pre-sales
performance of 35.3 billion rupees ($424.11 million) in Q2
    ** Says sales come despite seasonally weak qtr
    ** Co achieves 48% of pre-sales guidance of 1.45 bln rupees,
on track to meet FY view
    ** Collections were at 27.5 bln rupees in Q2, while net debt
fell by 5.4 bln rupees to 67.3 bln rupees
    ** Nifty realty index  .NIFTYREAL  up 1% amid strong
quarterly updates from MACE and Sobha  SOBH.NS  which also saw
record Q2 sales
    ** YTD MACE shares up 40.3% vs 32.8% gains in realty index


($1 = 83.2340 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))