Q1 2024 Macrotech Developers Ltd Earnings Call Transcript
Key Points
- Macrotech Developers Ltd (BOM:543287) delivered its best-ever Q1 presales performance with INR4,030 crores, marking a 20% year-on-year growth.
- The company reported an embedded EBITDA margin of 33% for the quarter, higher than the full-year guidance of 31%.
- Macrotech Developers Ltd (BOM:543287) has a strong balance sheet with net debt at INR4,300 crores, which is 0.24 times equity.
- The company has been recognized as the top real estate company by Great Places to Work and ranked 64th among 2000 companies across all sectors in India.
- The company has a robust pipeline of business development opportunities and new launches planned for the second half of the year, supporting future growth.
- The company's cash flow from operations was lower this quarter, attributed to a significant ramp-up in construction spending and seasonal factors.
- The transition to the new long-term capital gains tax regime may cause some transitory pain for existing homeowners looking to sell.
- The opening of the Airoli-Katai tunnel, which is expected to boost sales in Palava, has been delayed to Q3 or Q4, impacting short-term growth expectations.
- The company faces high competitive intensity in the Thane market, which may affect its market share and growth potential.
- Macrotech Developers Ltd (BOM:543287) is still in the pilot phase in Bangalore, and it will take time before this market contributes significantly to overall sales.
Ladies and gentlemen, good day, and welcome to Macrotech Developers Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Anand Kumar, Head IR at Macrotech Developers. Thank you, and over to you, sir.
Thank you. Good morning, everyone. Welcome to Macrotech's Q1 FY25 earnings conference call. We have with us, Mr. Abhishek Lodha, MD and CEO; Mr. Sushil Kumar Modi, CFO; and Mr. Prashant Bindal, Chief Sales Officer for the company.
I would now like to invite Mr. Lodha to make his opening remarks. Over to you, Abhishek.
Thank you, Anand. Good morning to everybody, and thank you for joining us today. I hope all of you are well. It's been a very interesting quarter in India. I would summarize, I would start by commenting on how one looks at the overall macro outlook in India as well as across the globe and what it means
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