Macrotech Developers shares declined 1.28 per cent on the NSE (National Stock Exchange), after compnay declared a sale of land parcel near mumbai to Amazon India’s subsidiary Amazon Data Services, for Rs 450 crore.
After the developer announced the sale, the share of the macrotech developers zoomed around 11.44 per cent since monday december, 2; touching the day high of Rs 1380.75 per share on the bourses.
The stock was trading around Rs 1353.60 per share on the on NSE (National Stock Exchange), dropping about 1.28 pe cent on the bourses amounting to a Rs 17 .50 per share on the exchanges.
Details of the deal
During the execution and registration of the sale agreement, Amazon Data Services India paid Macrotech Developers over Rs 396 crore of the total agreed amount. Agreed conditions must be met before the remaining amount of more than Rs 54 crore can be paid, according to the report.
As per the report, the data analytics firm Propstack stated that the company paid Rs 27 crore in stamp duty for the deal’s registration on November 12.
Macrotech devopers Q2 FY25
On Friday, October 25, the real estate company Macrotech Developers Ltd. announced that its net profit for the second quarter, which ended on September 30, 2024, increased by 108.63 per cent year over year (YoY) to Rs 423 crore.
According to a regulatory filing, Macrotech Developers reported a net profit of Rs 202.8 crore for the corresponding quarter of the previous fiscal year. In comparison to Rs 1.749.6 crore in Q2 of FY24, revenue from operations increased by 50.1 per cent to Rs 2,625.7 crore.
EBITDA increased by 69.9 per cent to Rs 648.3 crore in the second quarter of this fiscal year compared to Rs 381.8 crore in the same period last year.
