MACROTECH DEVELOPERS' RESOLUTION PLAN: NCLT'S BIG MOVE ON V HOTELS ACQUISITION - DETAILS

Macrotech Developers ltd has received the approval of the resolution plan of the Company on V Hotels from the National Company Law Tribunal (NCLT). Under the resolution plan, the Company will pay Rs 900 crores in trances over a period of 270 day. The Company in the BSE exchange filing informed that the first trances of Rs 90 crores has already been remitted.

" Company

had been declared as the Successful Resolution Applicant by the Committee of Creditors of V Hotels Limited (“V Hotels”) in relation to the Corporate Insolvency Resolution Process (“CIRP”) of V Hotels under the Insolvency and Bankruptcy Code 2016 (“IBC”)," Macrotech Developers said in the filing.

Incorporated on September 05, 2000, V Hotels has real estate assets which can be developed for residential and allied uses.

Macrotech Developers stock closed at Rs 1,196 apiece with a drop of -1.35 per cent on BSE, April 26, against the previous day close at RS 1213.30 apiece. The counter opened at Rs 1220.60 apiece, with a high of Rs 1229.95 apiece and Rs 1171.55 apiece. The Company boasts a market cap of Rs 1,19 lakh crore. The stock's 52-week movement indicates a high of Rs 1,308 apiece and a low of Rs 445.55 apiece. The stock has a face value of Rs 10 each.

Marcotech Developers Q4 2024 results

The Company reported a revenue of Rs 3,526 crore in Q4 Fy24, against Rs 2,793 crore in Q3 FY24. The net profit risen to Rs 539 crore in Q4 FY24, with EPS to 5.54.

About Macrotech Developers

Mumbai, India serves as the home base for the international real estate firm Lodha, also known as Macrotech Developers. In 1980, Mangal Prabhat Lodha created it. It has built residential and business buildings in Thane, Mumbai, Hyderabad, Pune, and London.

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2024-04-26T17:08:31Z dg43tfdfdgfd