Macrotech Developers report 31% growth in Q4 net profit

Mumbai, May 14 (IANS) Macrotech Developers on Friday reported a nearly 31 per cent growth in its consolidated net profit for the January-March quarter at Rs 312.19 crore.During the corresponding period of FY20, the company had made a net profit of Rs 238.44 crore.Its revenue from operations increased 20 per cent during the period under review to Rs 2,533.56 crore.Macrotech Developers Ltd MD & CEO Abhishek Lodha said: "Q4 FY21 is the 2nd consecutive quarter of strong performance after the first wave of Covid. This gives us confidence that we are at the start of a long-term upcycle in housing which will be supported by strong affordability, moderate home loan rates, disciplined supply and gradually rising prices.""We have also been surprised by the strong demand for industrial and warehousing space and believe that this segment will provide us with significant growth from hereon."
--IANS rrb/sn/vd