Multibagger Stock: Macrotech Developers yielded 160% return in a year, gained over 400% in 3 years

Real estate stocks have emerged as hot picks on Dalal Street in the past year, fueled by a surge in demand for residential properties and office spaces. Robust sales The company, which sells its properties under the Lodha brand, reported a remarkable 40% annual growth in its sales bookings, reaching ₹4,230 crore in the fourth quarter of the last fiscal year, driven by robust housing demand. For the full FY24, it achieved a 20% growth in its sales bookings, reaching a record of ₹14,520 crore compared to ₹12,060 crore in the previous financial year, as stated in a regulatory filing. On the business development front, the company successfully added new projects with a cumulative gross development value of ₹20, 300 crore in Q4 FY24 across various micro-markets in MMR, Pune, and Bengaluru. Debt reduction achieved Benefiting from robust operating cash flows and a recent equity raise, the company successfully trimmed its net debt to ₹3,010 crore, which now stands at less than 0.2 times the equity.