Macrotech’s Palava Project Site Visits Key Takeaways: ICICI Securities
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ICICI Securities Report
We do channel checks. We do network checks. However, 15 years of experience has taught this analyst that these checks have utility, if, and only if, it is supplemented by in-person site visits to track execution progress and get a deeper understanding of micro-markets.
We present takeaways from our site visits to Macrotech Developers Ltd.’s Palava Phase I and II township project located in the Navi Mumbai-Dombivali region in mumbai metro region’s extended eastern suburbs.
Macrotech Developers has made significant execution progress since FY10 with ~18,400 units having been delivered in Phase I (fully sold) and ~16,450 units having been delivered in Phase II since FY14 and another ~10,000 units set to be delivered between H2 FY22- FY26E.
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