Macrotech aims to trim net debt to below Rs 6,000 cr by March: MD Lodha

Realty firm Macrotech Developers aims to bring down its net debt to below Rs 6,000 crore by March next year from Rs 6,730 crore at the end of September quarter with the help of better cash flow. Macrotech Developers, which markets its properties under Lodha brand, has a presence in Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. "We have reduced our net debt by about Rs 540 crore in the second quarter of this fiscal to Rs 6,730 crore. Our target would be to reduce debt to below Rs 6,000 crore by end of this fiscal year," Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha told PTI. The aim is to keep net debt below operating cash flow, which is estimated to be Rs 6,000 crore during 2023-24, he said. Lodha said the company had a strong performance during the September quarter on all important metrics -- sales bookings, collections of fund from customers against sales and acquisition of new land parcels for business development. "Our focus

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