InvestorQ : How far has Macrotech got in its debt reduction program as it had promised in the IPO prospectus?
swati Bakhda made post

How far has Macrotech got in its debt reduction program as it had promised in the IPO prospectus?

Answer
image
Sam Eswaran answered.
2 months ago
Follow

Macrotech Developers, formerly known as Lodha Builders, is surely sticking to its promise of cutting down on debt in a substantive manner. Post the IPO, Macrotech had already cut its debt from Rs.16,076 crore to Rs.12,435 crore using part of the IPO funds. Now in its latest round of debt reduction, Macrotech plans to reduce its debt from Rs.12,508 crore to Rs.10,000 crore and they propose to achieve this by Mar-22.

What is more interesting in the case of Macrotech is that this debt will be repaid via the collections from home sales, land sale and one of its rental office assets. It will be purely from internal sources only. For the last quarter, Macrotech reported Rs.3,453 crore worth of revenues which comprised of Rs.2,003 crore of India specific revenues and Rs.1,450 crore from London projects at Grosvenor Square and Lincoln Square. Collections stand at Rs.1,912 crore.

3 Views