Shares of Macrotech Developers were trading 5% higher on 30 October after the company announced its quarterly report for July-September.

The company reported its first-ever consolidated net profit of Rs 202.8 crore for the quarter under review against Rs 932.9 crore net loss reported in the same quarter of the previous fiscal year.

On the other hand, the company’s total revenue saw a marginal dip to Rs 1,755.1 crore during the quarter from Rs 1,761.2 crore reported in the year-ago quarter. Moreover, the company also managed to make a significant dent in its net debt by bringing it down by Rs 540 crore to Rs 6,730 crore during the quarter.

The company’s pre-sales for the quarter were up by 12% year-on-year (YoY) to Rs 3,530 crore, and the collection from customers climbed by 16% YoY to Rs 1,750 crore.

The developer has added two new projects of 12 lakh square feet area that have a gross development value of Rs 2,300 crore.

Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, said, “Our ‘for-sale’ business has shown a 20 percent YoY growth for the quarter. We have also achieved pre-sales of Rs 6,890 crore in H1 FY24.”

At 10:27 am, the shares of Macrotech Developers were trading 2.70% above at Rs 757.30 on NSE.