Shares of Macrotech Developers surged 6% to Rs 906.30 in intraday trade on Thursday on heavy volume. In contrast, the S&P BSE Sensex was down 0.55% at 59,081 at 11:05 am.
Shares of the real estate company have rallied 26% over the past four sessions. It hit a 52-week low of Rs 711 on February 24, 2023. Despite four straight days of gains over the past month, Macrotech Developers has underperformed the market, with shares down 12%, compared with a 1.4% drop in the Sensex.
Macrotech Developers sells its properties under the Lodha brand and is one of the leading real estate companies in the country. The company is passionate about building the world’s best developments across its residential, commercial and digital infrastructure portfolio.
The company has delivered approximately 90 million square feet of real estate and has about 107 million square feet in development under its ongoing and planned portfolio.
It has a strong presence in the Mumbai Metropolitan Region (MMR) and Pune real estate markets, while it recently entered the Bengaluru market with a housing project.