Buying a property is better than renting one: Abhishek Lodha

Buying a property is better than renting one, said Abhishek Lodha, Managing Director and Chief Executive Officer of Macrotech Developers which sells its projects under the Lodha brand. Macrotech net debt rises 43.5% to ₹ 4,320 crore in Q1 on higher capex for land, construction Real estate firm Macrotech Developers Ltd net debt rose 43.5% to touch ₹4,320 crore during the first quarter of this fiscal year due to higher investment in land acquisition and construction. According to a transcript of discussions with analysts, Abhishek Lodha said, "In spite of the significant level of business development plus a significant ramp up in construction spend in this quarter, our net debt stood at ₹4,300 crores, which is 0.24 times of equity". Recently, Macrotech Developers reported a 2.7-fold jump in its consolidated net profit to ₹475.3 crore for the June 2024 quarter on higher income.