Macrotech Developers Ltd Q2 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Puneet Gulati - HSBC - Analyst : Yeah, thank you so much and congrats and good performance. My first question is you talked about Bangalore moving from pilot stage to main state. What does it really mean? I mean, how would your capital commitments and pace of execution change? What should we think of in terms of future launches and sales guidance?

Question: Puneet Gulati - HSBC - Analyst : Understood. So that means your business relevant activity and I would kind of double from what you did last time.

Question: Puneet Gulati - HSBC - Analyst : Previous FY '23 for example.

Question: Puneet Gulati - HSBC - Analyst : Understood. And secondly, on your data centre business, I also see there is a huge balance investment you planned out for almost INR24 billion. So, what all do you intend to do in the data centre? Just provide the building or actually provide the data centre services as well with MEP etcetera.

Question: Puneet Gulati - HSBC - Analyst : So, I'm referring to slide 19 where you talked about [24.17] balance investment in digital infrastructure. So that's.

Question: Puneet Gulati - HSBC - Analyst : Understood. And thirdly, if you can comment on, you know, your experience and approvals in Mumbai, Pune and Bangalore. Any slowness you're seeing or any change in standard. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 28, 2024 / 7:30AM, MACE.NS - Q2 2025 Macrotech Developers Ltd Earnings Call

Question: Puneet Gulati - HSBC - Analyst : Understood. That's helpful. Thank you so much and all the best.

Question: Abhinav Sinha - Jeffrey India - Analyst : Hi congrats on strong numbers for the quarter. A question to Shaishav on the data centre part. When you're talking about the sustainable sales in this location. So what is the sort of opportunity we are looking at?

Question: Abhinav Sinha - Jeffrey India - Analyst : So, on data centre, you said that you know, the sale of land here could be a sustainable business model. So, what is the opportunity we're looking at?

Question: Abhinav Sinha - Jeffrey India - Analyst : Like will the real it be higher for this land which is sell to data centre versus the normal digital infrastructure housing bit? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 28, 2024 / 7:30AM, MACE.NS - Q2 2025 Macrotech Developers Ltd Earnings Call

Question: Abhinav Sinha - Jeffrey India - Analyst : Thanks, Shaishav. Abhishek really just a question on the strong sort of, you know, sales PFI in South central and Western geography. So which projects are moving and is the upper end, you know, the absolute top end doing far better than the other segments.

Question: Abhinav Sinha - Jeffrey India - Analyst : Okay, thanks and all the rest of the team.

Question: Kunal Tayal - Bank of America - Analyst : Great. Thank you. Abhishek, I wanted to follow up with one or two more questions on the data centre business. Firstly, I think at a big picture level, of course, I understand that both power and location which is access to C cables is very important here. But other than that, if we just highlight, you know, a few factors that worked in your favour towards clinching this particular deal. And the associated question is you know, it's great to hear that you're now looking at the capital values going up from INR3.5crores to towards INR20 crores. Should we think of this as you know, now that you have the first data centre and probably line of sight to more it aids in more accretion of certain kind of infrastructure or other sort of you know, pluses to that land parcel that were not visible to prospective buyers earlier. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 28, 2024 / 7:30AM, MACE.NS - Q2 2025 Macrotech Developers Ltd Earnings Call

Question: Kunal Tayal - Bank of America - Analyst : I understand. Okay, good to know. And just one quick follow up on the residential side of the business Abhishek, if you could sort of share your, you know, views on what trends you're seeing around land prices in, in Mumbai. And is any of that sort of posing any bit of challenge to a 6% to 7% pricing escalation for yourself or still all within comfortable levels? Thank you.

Question: Kunal Tayal - Bank of America - Analyst : Very clear. Thank you so much.

Question: Praveen Choudhary - Morgan Stanley - Analyst : Thank you so much. Hi Abhishek congratulations on your announcement of the foundation that's very generous. I have two questions. The first one is on page 19 of the presentation that you mentioned FY '31 you're hoping to get INR12 billion of rental income. Would you be able to provide some kind of guidance by slightly near term, let's say FY '27 of the same rental income. The second question is related to data centers which obviously is very exciting for everybody. We just want to understand your long term strategy here. It seems like initially you will sell land, then you will build the bare shell and rent it. Would you go all the way in terms of becoming data centre, technologically, more advanced building colocation so that you can capture a higher percentage of the value chain in this one. Or you just want to be the landlord and let someone else take care of tech technical aspect of it. And, and connected to that one, you mentioned, you have 4,500 acres in Palava. What part of that land. Are you earmarking for data centers? Over time? Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 28, 2024 / 7:30AM, MACE.NS - Q2 2025 Macrotech Developers Ltd Earnings Call

Question: Praveen Choudhary - Morgan Stanley - Analyst : Very clear Abhishek. And thank you so much. Congratulations again.