Macrotech Developers (Lodha) shares surged 3% after Jefferies upgraded the stock to a ‘Buy’ with a target price of ₹1,600 per share. The brokerage firm cited strong real estate sales, robust urban housing demand, and an improving financial outlook.
Jefferies highlighted Lodha’s 20% pre-sales growth and 20% ROE trajectory, alongside its strategy to scale premium inventory in Palava township. Additionally, higher pricing and lower financing costs are expected to boost profit margins, while Palava’s land valuations could provide further upside.
The brokerage firm stated, “High volatility on 20% pre-sales growth and 20% ROE trajectory. Scaling its premium inventory in Palava township. Higher pricing an lower finance costs will drive up margins. Palava land valuations to provide upside.”
Macrotech Developers’ shares opened at ₹1,159.00, reaching a high of ₹1,199.20 and a low of ₹1,149.95. The stock remains below its 52-week high of ₹1,649.95 but above the 52-week low of ₹977.35. As of 11:24 AM, the shares were trading 2.55% higher at Rs 1,192.15.
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