Full Year 2024 Macrotech Developers Ltd Earnings Call Transcript
Key Points
- Achieved best-ever quarterly and annual pre-sales performance with Q4 sales growing by 40% to over INR4,200 crore and annual pre-sales of INR14,500 crore, a 20% growth from last year.
- Embedded EBITDA margin for the business was at about 31%, despite a higher contribution from JDA projects, indicating strong operational efficiency.
- Net debt stands at about INR3,000 crore, well within the limit of 0.5x equity, showcasing strong balance sheet management.
- Achieved net zero goal on scope one and scope two emissions by March '24, reflecting strong ESG commitment.
- Guiding to additional pre-sale growth of over 20% with a target of INR17,500 crore for fiscal '25, indicating continued confidence in market demand.
- Global geopolitical tensions and macroeconomic challenges pose risks to overall sentiment and economic indicators.
- Higher contribution from JDA projects, which tend to have lower EBITDA margins, could impact overall profitability.
- Debt levels, although within limits, are expected to be close to INR5,000 crore by the end of the fiscal year, indicating potential leverage concerns.
- Affordable housing segment has been hit by increased interest rates, affecting first-time homebuyers.
- Ramp-up in the warehouse and industrial platform with Bain and Ivanhoe Cambridge has been slower than expected, indicating potential delays in project execution.
Ladies and gentlemen, good day, and welcome to Macrotech Developers Q4 FY24 results earning conference call hosted by Antique Stock Broking. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Biplab Debbarma from Antique Stock Broking Limited. Thank you, and over to you, sir.
Thank you, [Ria]. Good morning, everyone, and welcome to Q4 FY24 earnings call of Macrotech Developers Limited hosted by Antique Stock Broking. Today, we have with us the management of the company represented by Mr. Abhishek Lodha, Managing Director and CEO; Mr. Sushil Kumar, CFO; Mr. Tikam Jain, CEO, Pune; and Mr. Anand Kumar, Head IR.
Without further ado, let me hand over the call to Mr. Lodha. Over to you, sir.
Good afternoon, everybody. A warm welcome to the call. I hope all of you are doing well. As we end
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