Macrotech Developers expects real estate prices to go up by 6% this fiscal year

Macrotech Developers is expecting a price growth of 6-7 percent in the current financial year (FY24). This price growth is expected to be below wage growth, indicating that the company is aiming for affordable prices that match the purchasing power of the buyers.

While sharing the expectations for the upcoming financial year, Abhishek Lodha, the MD and CEO of the company said, “Our growth forecast for fiscal 24 comprises of a price growth, we like our price growth to be below wage growth so that affordability keeps getting better. So we are looking at a 6-7 percent price growth and the balance 13-14 percent coming from volume growth.”

Furthermore, Macrotech Developers is expecting a volume growth of 13-14 percent in FY24. This volume growth is a positive indicator for the company's sales and revenue, and it shows that the demand for real estate is increasing in India.

Abhishek Lodha also mentioned that there is more consolidation in the industry.

Moreover, Macrotech Developers is committed to reducing its debt from current levels. The company has been working on reducing its debt for the past few years and plans to continue doing so in the future. This move will not only improve the company's financial health but also help it to achieve its growth targets.

Macrotech Developers is expecting a repatriation of Rs 550 crore from the UK this year.

“On the UK front, we repatriated about Rs 550 crore from the UK last year and the balance of about Rs 550 crore will get repatriated this year and with that all our investments in the UK will come to an end,” he said.

This repatriation is a significant boost for the company's finances and will help it to invest in new projects and expand its operations further.

The stock has gained more than 10 percent over the past month.