Conference Call with Macrotech Developers Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Realty company Macrotech Developers announced Q3FY25 results Financial Highlights: Pre-sales: Rs 45.1 billion (+32% YoY). Collection: Rs 42.9 billion (+66% YoY). Revenues from ops.: Rs 40.8 billion (+39% YoY). Adj. EBITDA: Rs 15.9 billion (+48% YoY). PAT: Rs 9.4 billion (+66% YoY). Other Highlights: Best ever quarterly Pre-sales of Rs 45.1 billion (+32% YoY). Added fifth project in Bengaluru with GDV of Rs 28 billion. Significant debt reduction of Rs 6.1 billion (Net D/E: 0.22x). Robust Adj. EBITDA margins at ~39%. Abhishek Lodha, MD & CEO, Macrotech Developers, said: “I am pleased to note that we achieved our best ever quarterly Pre-sales performance of Rs 45.1 billion in Q3FY25. This is the fourth consecutive quarter of achieving pre-sales greater than Rs 40 billion. What is also encouraging is that these strong Pre-sales have come along side robust embedded EBITDA margins of 35%. This demonstrates our focus on delivering consistent and predictable growth alongside good profitability. With this we have achieved Rs 128.2 billion of Pre-sales in the 9MFY25 showcasing ~25% growth. The quarter also saw the strongest ever collections performance of Rs 42.9 billion which showcases strong execution capability of the organization. We added another projects in Bengaluru with a GDV of Rs 28 billion – our fifth in the city. These new project additions in Bengaluru will provide opportunity to drive pre-sales growth from next FY onwards in the city where we have entered the expansion phase now. Our new Business Development for 9MFY25 across MMR, Pune and Bengaluru stands at Rs ~195 billion of GDV (8 projects), thus achieving 90%+ of our full year guidance. We continued making progress towards building our annuity portfolio in a calibrated manner and acquired ~33 acres of land for our Digital Infrastructure (warehousing and industrial) business in the NCR. We also entered into an agreement with our JV partner to further increase stake in our Digital Infrastructure platform. Despite significant investments in Business Development in this quarter, we reduced our net debt by Rs 6.1 billion to Rs 43.1 billion (0.22x Net Debt/ Equity) - well below our ceiling of 0.5x Net Debt/Equity. This is on the back of strong operating cash flow generation of Rs 24 billion during the quarter. On the back of strong operating and financial performance ICRA revised our credit rating outlook to ’Positive’ (AA-/ Positive). Our exit cost of debt continues to go down and stands at 8.8% (down ~10 bps during the quarter) - among the lowest in the industry.” Result PDF