Jefferies Forecasts Multi-bagger Returns Of 140% For Macrotech Developers Shares In Next Five Years

Jefferies, a global investment banking and capital markets firm that offers insights to investors, companies and governments regarding trading, wealth and asset management. It is also one of the top stock broking companies in India. Now, as per the predictions of this global investment brokerage firm, the shares of real estate firm Macrotech Developers are likely to give multi-bagger returns to its investors in the next five years. It claims that the stock price of this company will give triple returns in the coming years. The share price of the company closed at Rs 1,081 on Tuesday, March 19. The company had raised about Rs 3,300 crore equity from Qualified Institutional Placement (QIP) in March 2024. The name of Global Quality Growth partners is also included among the new shareholders who bought the equity.

Regarding Macrotech Developers stock, Jefferies has said that this stock can reach the price of Rs 3,000 by the financial year 2029. The brokerage says that this company can get big benefits from the housing upcycle. The company has a total township landbank of 600 million square feet in the suburban areas of Mumbai. As per Jefferies, the changes in the price of existing township lands and the company’s expansion into new areas could lead to pre-sales growing at a CAGR of 15% – 20% in the medium term.

Macrotech Developers has given a return of 142.37 per cent multi-bagger returns to its investors from last year. In the last three months, this real estate firm has offered a return of 17 per cent to its investors. As of December 2023, the shareholding pattern of Macrotech Developers includes the promoter stake at 74.92 per cent, Foreign Institutional Investors at 21.11 per cent, and Domestic Institutional Investors at 3.20 per cent while the remaining distribution is between public and corporate holdings.

Macrotech Developers focuses on real estate development and construction, specializing in diverse projects such as residential housing complexes, commercial office spaces, and retail developments. In an interview with CNBC recently, Abhishek Lodha, MD and CEO of Macrotech Developers expressed his confidence in the real estate market’s reliance and said that the demand is quite strong in this sector.