External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Macrotech Developers (LODHA) achieved its best ever July-September sales bookings in Q2FY23 worth Rs31.5bn (Isec estimate of Rs27.5bn) which was driven by a combination of monetization of ready/completed inventory and new launches.</li><li>The company has given FY23 sales booking guidance of Rs115bn (Isec estimate of Rs110bn) and we believe that the sales guidance is achievable given that the company has already achieved H1FY23 sales bookings of Rs60.0bn (52% of FY23 guidance) in a seasonally weaker period where the April-September period typically accounts for 40-45% of annual sales.</li><li>The company’s India business net debt reduced by Rs0.6bn QoQ to Rs88.0bn as of Sep’22 while in its London investments, the company has repaid USD225mn bonds ahead of schedule and has no further obligation on its India balance sheet towards its London investments.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Macrotech Developers (LODHA) achieved its best ever July-September sales bookings in Q2FY23 worth Rs31.5bn (Isec estimate of Rs27.5bn) which was driven by a combination of monetization of ready/completed inventory and new launches.The company has given FY23 sales booking guidance of Rs115bn (Isec estimate of Rs110bn) and we believe that the sales guidance is achievable given that the company has already achieved H1FY23 sales bookings of Rs60.0bn (52% of FY23 guidance) in a seasonally weaker period where the April-September period typically accounts for 40-45% of annual sales.The company’s India business net debt reduced by Rs0.6bn QoQ to Rs88.0bn as of Sep’22 while in its London investments, the company has repaid USD225mn bonds ahead of schedule and has no further obligation on its India balance sheet towards its London investments.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Macrotech Developers (LODHA) - Sales Momentum Sustains