Mumbai-based real estate giant Macrotech Developers, known for its Lodha brand, has reported an 11% drop in consolidated net profit for the March quarter of fiscal 2023. The company’s profit stood at ₹665.5 crore for the quarter under review. However, on a positive note, Macrotech’s net profit for the entire fiscal year 2022-23 witnessed a significant three-fold jump to reach ₹1,549.1 crore.
In the fourth quarter of 2022-23, Macrotech’s net profit was ₹744.4 crore, marking a decline from the ₹486.7 crore reported in the corresponding quarter of the previous fiscal. Despite the quarterly dip, the company’s total income grew to ₹4,083.9 crore in the March quarter, up from ₹3,271.7 crore in the same period last year.
For the full fiscal year 2022-23, Macrotech’s total income rose to ₹10,469.5 crore, a notable increase compared to the ₹9,611.2 crore reported in the previous fiscal. The company’s strong performance in the real estate sector, particularly in key markets like Mumbai and MMR, contributed to its overall revenue growth.
Macrotech Developers remains one of the leading real estate firms in India, with a strong presence across various segments, including residential, commercial, and retail properties. The company has been actively involved in the development of landmark projects in major cities, including the iconic Lodha World Towers in Mumbai.
