LODHA

Adds details from paragraph 2 onwards

BENGALURU, Jan 20 (Reuters) - India's Lodha Developers LODH.NS said on Tuesday that it will invest an additional 1 trillion rupees ($11 billion) to build a 2.5-gigawatt data centre park in the state of Maharashtra, expanding on an earlier commitment of 300 billion rupees.

India's data center market has been booming, with real estate developers, investors and tech giants such as Alphabet's Google GOOGL.O and Meta META.O investing billions across states including Maharashtra and Andhra Pradesh.

Lodha made its initial commitment to the Maharashtra government last September.

The group said on Tuesday that the 2.5-gigawatt data center park will be the largest of its kind in India. Firms including Amazon AMZN.O and Singapore-based STT Global Data Centers have purchased land parcels at the site.

($1 = 90.8950 Indian rupees)

(Reporting by Abhirami G in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)

(([email protected]))

** Shares of Lodha Developers LODH.NS rise as much as 2.3% to 1,120 rupees; currently up 0.9%

** Real estate developer says its Q3 pre-sales rise 25% to 56.2 billion rupees ($624.9 million) compared to last year

** Jefferies ("Buy", PT: 1,120 rupees) says Lodha has achieved 70% of FY26E pre-sales guidance of 210 billion rupees; implies need for acceleration to 32% sales growth in Q4

** Co's collections fall 17% to 35.6 billion rupees in Q3, capping gains

** Nomura ("Buy"; PT: 1,450 rupees) says annual operating cash flow may be lower than co's guidance; not cause for concern as net debt/equity remains below 0.5x

** Stock rated "Buy" on average by 17 analysts; median PT 1,473 rupees - data compiled by LSEG

** Stock fell 23.6% in 2025

($1 = 89.9350 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

Jan 6 (Reuters) - Lodha Developers Ltd LODH.NS:

• Q3 PRE-SALES OF 56.2 BILLION RUPEES; UP 25% YOY

Source text: ID:nNSE7g3tbD

Further company coverage: LODH.NS

(([email protected];))

Sept 17 (Reuters) - Lodha Developers Ltd LODH.NS:

• LODHA DEVELOPERS - TO REFER RAJENDRA LODHA MATTER TO APPROPRIATE AUTHORITIES FOR INVESTIGATION

Source text: ID:nnAZN4JC79N

Further company coverage: LODH.NS

(([email protected];))

** India's Lodha Developers LODH.NS slumps as much as 6.6% to a two-month low of 1,346.5 rupees; last down 5.8%

** Set for biggest daily pct drop in more than three months

** A block deal involving 9.95 million shares, representing a 1% stake in the real estate company, is executed at the price of 1,384.4 rupees per share, as per LSEG data

** CNBC-TV18 reported on Tuesday that an existing investor is likely to sell 1% stake in a $165 million block deal

** More than 14 million shares change hands, ~15x its 30-day avg daily volume

** Stock erases YTD gains, down ~3%

(Reporting by Vivek Kumar M)

(([email protected];))

July 2 (Reuters) - Lodha Developers Ltd MACE.NS:

• LODHA DEVELOPERS LTD - SUPREME COURT ORDERS LODHA DEVELOPERS TO DEPOSIT 5.21 BILLION RUPEES

• LODHA DEVELOPERS LTD - NO OTHER CLAIM ON V HOTELS' PROPERTIES AFTER DEPOSIT

Source text: ID:nNSE2h4M5g

Further company coverage: MACE.NS

(([email protected];;))

April 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - DIVIDEND 4.25 RUPEES PER SHARE

• MACROTECH DEVELOPERS MARCH-QUARTER CONSOL NET PROFIT 9.22 BILLION RUPEES

• MACROTECH DEVELOPERS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 42.24 BILLION RUPEES

Source text: ID:nBSEbSKSNq

Further company coverage: MACE.NS

(([email protected];))

April 2 (Reuters) - Macrotech Developers Ltd MACE.NS:

• CERTAIN HOABL ENTITIES HAVE USED PURPORTED BOARD RESOLUTIONS OF COMPANY

• COMPANY DENIES APPROVAL OF FABRICATED BOARD RESOLUTIONS

• HOABL ENTITIES USED FABRICATED BOARD RESOLUTIONS FOR TRADEMARK USE

• INDEPENDENT DIRECTOR'S SIGNATURE ON FABRICATED BOARD RESOLUTIONS IS FORGED

• FORGED PAN CARD USED TO SUPPORT FABRICATED BOARD RESOLUTIONS

• INDEPENDENT DIRECTOR CONFIRMS FORGED SIGNATURE AND PAN CARD

• SPECIAL COMMITTEE FORMED TO INVESTIGATE AND TAKE LEGAL ACTION

Source text: ID:nBSE7Q0pW4

Further company coverage: MACE.NS

(([email protected];;))

March 11 (Reuters) - Macrotech Developers Ltd MACE.NS:

• CLARIFIES ON REPORT ABOUT LAND PARCEL ACQUISITION IN MUMBAI

• LAND PARCEL ACQUISITION IN MUMBAI ONE AMONG MANY UNDER DISCUSSION

Source text: ID:nnAZN3JFXJZ

Further company coverage: MACE.NS

(([email protected];;))

Jan 6 (Reuters) - Macrotech Developers Ltd MACE.NS:

• Q3FY25 PRE-SALES AT 45.10 BILLION RUPEES, UP 32% YOY

• Q3FY25 COLLECTIONS AT 42.90 BILLION RUPEES, UP 66% YOY

Source text: ID:nBSE876PSX

Further company coverage: MACE.NS

(([email protected];;))

Dec 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - UNIT DIRECTED TO PAY 400 MILLION RUPEES TO A VENDOR OVER TERMINATED CONTRACT

Source text: ID:nBSE4WNXBr

Further company coverage: MACE.NS

(([email protected];;))

Nov 29 (Reuters) - Macrotech Developers Ltd MACE.NS:

• EXECUTED AGREEMENT FOR ACQUISITION OF JANUS LOGISTICS AND INDUSTRIAL PARKS

• COST OF ACQUISITION 479.4 MILLION RUPEES

Source text: ID:nBSE4Sx5VV

Further company coverage: MACE.NS

(([email protected];;))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to add information regarding Bajaj Housing Finance IPO in fourth paragraph.

By Ujjaini Dutta

BENGALURU, Sept 12 (Reuters Breakingviews) - India’s diaspora is fuelling a property boom in the world's fifth-largest economy. New launches of luxury homes by saleable area in the top seven cities hit 231 million square feet in the year through March, up 48% year-on-year, according to ICRA ICRA.NS, a credit ratings agency. Average prices of luxury homes in places including New Delhi, Bengaluru, and Chennai jumped 18% in the three months to end June. It's a helpful tailwind for GDP growth.

After a decade-long slump in the housing market through 2019, real estate is hotting up again as an investment choice including for ultra-high net worth individuals. Since the pandemic, consumers also prefer bigger homes. Plus landmark regulation introduced by Prime Minister Narendra Modi's government calls for timely project delivery and is restoring the confidence of everyday buyers.

Non-resident Indians are emerging as an especially strong source of demand; they will be the source of 20% of overall primary sales by 2025, up from 10% in 2019, according to NoBroker. The appetite of these buyers looks robust: they have a strong emotional connection to their motherland and plan to use the properties in the future, notes the technology-led real estate services firm.

The frenzy has put stocks of top developers in India into overdrive. Shares of $24 billion DLF DLF.NS, the largest listed real estate company in India, soared 57% in the past one year and those of Macrotech Developers MACE.NS - part of the Lodha group – jumped 53%. Over that period, the Nifty Realty Index .NIFTYREAL has outperformed the broader Nifty 50 benchmark .NSEI by 47 percentage points. Investors this week placed bids worth $39 bln for the initial public offering of Bajaj Housing Finance BAJO.NS, a mortgage lender focusing on well-heeled borrowers. By contrast, new launches of affordable property are stagnating as overall consumption in the economy remains subdued.

The luxury boom, and non-resident Indian purchases, matter because property is an important source of overall investment - which accounts for about a third of GDP. Private real estate demand, including for dwellings, was leading the uptick in investment, more than public capital expenditure, HSBC economist Pranjul Bhandari pointed out in a research note in March.

India’s blistering economic expansion is starting to moderate; GDP growth slowed to 6.7% in the April to June quarter. Demand for luxury housing is easing to a less frothy pace too: new launches will rise about 27% year-on-year in the current financial year, per ICRA. Overseas Indians will remain important buyers, however. They send remittances to the country and answer official calls to purchase diaspora bonds, issued by the government at times of crisis. Now they are flattering investment too.

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CONTEXT NEWS

New launches of luxury homes in India by saleable area hit 231 million square feet, up 48% year-on-year in financial year 2024, according to ICRA, a ratings agency majority-owned by Moody's.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on DUTTA/
[email protected]))

Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - UNIT ACQUIRED REMAINING 50% STAKE OF SIDDHIVINAYAK REALTIES

• MACROTECH DEVELOPERS - TOTAL COST OF ACQUISITION 4.16 BILLION RUPEES

• MACROTECH DEVELOPERS - SIDDHIVINAYAK REALTIES HAS BECOME WHOLLY OWNED SUBSIDIARY OF CO

Source text for Eikon: ID:nBSE87gXhp

Further company coverage: MACE.NS

April 26 (Reuters) - Macrotech Developers Ltd MACE.NS:

• TRIBUNAL APPROVED RESOLUTION PLAN OF CO IN RELATION TO INSOLVENCY RESOLUTION OF V HOTELS

• UNDER RESOLUTION PLAN, CO WILL PAY 9 BILLION RUPEES OVER A PERIOD OF 270 DAYS

Source text for Eikon: ID:nNSE5WYmLz

Further company coverage: MACE.NS

(([email protected];))

April 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MARCH-QTR CONSOL NET PROFIT 6.66 BLN RUPEES VS 7.44 BLN RUPEES YR AGO

• MARCH-QTR CONSOL REV FROM OPS 40.19 BLN RUPEES VS 32.55 BLN RUPEES YR AGO

• FINAL DIVIDEND OF 2.25 RUPEES PER SHARE

Source text for Eikon: ID:nNSERr1yr

Further company coverage: MACE.NS

(([email protected];))

April 5 (Reuters) - Macrotech Developers Ltd MACE.NS:

• WE HAD Q4FY24 PRE-SALES OF 42.3 BN RUPEES

• COLLECTIONS FOR 4QFY24 SHOWING GROWTH OF 20% YOY

• NET DEBT REDUCED TO 30.1 BILLION RUPEES AT Q4 END

Source text for Eikon: ID:nBSE7HzFMf

Further company coverage: MACE.NS

(([email protected];))

March 28 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - ACQUIRES 50% OF PAID-UP EQUITY CAPITAL OF SIDDHIVINAYAK REALTIES

• MACROTECH DEVELOPERS - TOTAL COST OF ACQUISITION 2.51 BILLION RUPEES

Source text for Eikon: ID:nBSE13ndRy

Further company coverage: MACE.NS

(([email protected];))

March 7 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - LODHA SUCCESSFULLY RAISES 33 BILLION RUPEES EQUITY THROUGH QIP

Source text for Eikon: ID:nBSE7352wc

Further company coverage: MACE.NS

(([email protected];))

March 4 (Reuters) - Macrotech Developers Ltd MACE.NS:

• APPROVED FLOOR PRICE FOR ISSUE AT 1129.48 RUPEES PER SHARE

Source text for Eikon: ID:nBSE88W65j

Further company coverage: MACE.NS

(([email protected];))

Changes headline, recasts paragraph 1, and adds chart of historic weightage data of India and China in MSCI Global Standard index

By Bharath Rajeswaran

BENGALURU, Feb 13 (Reuters) - India has narrowed the gap with China in MSCI's Global Standard index, which tracks emerging market stocks for investors, after the latest revision.

Index provider MSCI raised India's weightage in the index to an all-time high of 18.2% on Tuesday, which could lead to inflows of about $1.2 billion, analysts said.

In comparison, China's weight in the index fell to 25.4% after the February revision, from 26.6% a year ago.

The convergence of weights between Indian and Chinese stocks has intensified since August 2020, when China's weightage was five times that of India's.

MSCI's revisions will come into effect after market close on Feb. 29. Indian shares had a 17.9% weight on the index ahead of the February review.

The gain for India can be attributed to a sustained rally in equities and relative underperformance of other emerging markets, especially China, Nuvama Alternative & Quantitative Research said in a note on Tuesday.

India could surpass a 20% weight on the MSCI index by early 2024, on consistent flows from domestic institutional investors and steady foreign portfolio investor participation, Nuvama said.

MSCI added five Indian stocks to its Global Standard index and did not move any out. In contrast, the index provider removed 66 Chinese stocks while adding five.

India's state-owned lenders Punjab National Bank PNBK.NS and Union Bank of India UNBK.NS were added to the large-cap category, while Bharat Heavy Electricals BHEL.NS and NMDC NMDC.NS were included in the mid-cap category. GMR Airports Infrastructure GMRI.NS was moved to the mid-cap category from small-caps.

India could witness up to $1.2 billion of passive foreign flows after the February review, Nuvama said.

About 27 small-cap stocks were added to the MSCI Domestic index, while six were either moved to other categories or removed.

Tata Motors TAMO.NS and Macrotech Developers MACE.NS were added to the domestic index under the large-cap category while Punjab National Bank, Canara Bank CNBK.NS and Embassy Office Park REIT EMBA.NS to the mid-caps.

Bharat Heavy Electricals BHEL.NS, Persistent Systems PERS.NS, MRF MRF.NS, Suzlon Energy SUZL.NS and Cummins India CUMM.NS were moved to the mid-cap index from small-caps.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)

(([email protected]; +91 9769003463;))

Jan 5 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - COLLECTIONS WERE 25.9 BILLION RUPEES FOR 3QFY24

• MACROTECH DEVELOPERS - LODHA Q3 PRE-SALES 34.1 BILLION RUPEES, UP C.12% Y/Y

• MACROTECH DEVELOPERS - BUSINESS DEVELOPMENT FOR 9M SURPASSED FY GUIDANCE OF 175 BILLION RUPEES FOR YEAR

• MACROTECH DEVELOPERS LTD - COLLECTIONS DOWN 3% Y/Y FOR 3QFY24

• MACROTECH DEVELOPERS - NET DEBT IN QUARTER AT 67.5 BILLION RUPEES

Source text for Eikon: ID:nBSEbttghw

Further company coverage: MACE.NS

(([email protected];))

Jan 4 (Reuters) - Macrotech Developers Ltd MACE.NS:

• EXECUTED AGREEMENTS FOR ACQUISITION OF 100% EQUITY STAKE IN GOEL GANGA VENTURES INDIA

Source text for Eikon: ID:nBSE7StSbf

Further company coverage: MACE.NS

(([email protected];;))

Dec 29 (Reuters) - Macrotech Developers Ltd MACE.NS:

• GOT GST ORDER FOR 916 MILLION RUPEES

• THERE IS NO MATERIAL IMPACT OF SAME ON OPERATIONS OF COMPANY

Further company coverage: MACE.NS

(([email protected];))

By Kashish Tandon and Bharath Rajeswaran

BENGALURU, Nov 15 (Reuters) - India's weightage in MSCI's Global Standard (Emerging Markets) index will move close to 16.3%, an all-time high, from the current 15.9%, after the index provider's November review.

This marks "a significant increase over the past three years, almost doubling its weight," Nuvama Alternative & Quantitative Research said in a note.

Foreign portfolio investors use the MSCI indexes as a gauge to allocate their passive flows.

MSCI added nine Indian stocks to the index in its November review on Tuesday, with changes to come into effect from market close on Nov. 30. Post the rebalance, India's stock count will rise to 131.

Indian automaker Tata Motors TAMO.NS, cables maker Polycab India POLC.NS, real estate firm Macrotech Developers MACE.NS, IndusInd Bank INBK.NS and Paytm-parent One 97 Communications PAYT.NS were among the nine stocks to be added. No Indian stocks were deleted to accommodate the new additions.

According to Nuvama's calculations, India is likely to receive passive inflows of close to $1.5 billion post the rejig.

IndusInd Bank INBK.NS, Suzlon Energy SUZL.NS, Persistent Systems PERS.NS, and APL Apollo Tubes APLA.NS will each receive maximum inflows of $355 million, $289 million, $255 million and $228 million after the inclusion, the domestic brokerage said.

MSCI added One 97 Communications PAYT.NS and Polycab India POLC.NS to its India Domestic Index, an index focussed on the large- and mid-cap segments of the domestic market.

Power Finance Corp PWFC.NS, REC RECM.NS, IDFC First Bank IDFB.NS, Supreme Industries SUPI.NS and Max Healthcare Institute MAXE.NS have been included in the domestic index.

MSCI's small-cap index, which accounts for approximately 14% of the market capitalisation of Indian stocks in MSCI indexes, also witnessed an inclusion of 41 stocks while 13 stocks were excluded.

(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)

(([email protected];))

BENGALURU, Nov 1 (Reuters) - India's LIC Housing Finance LICH.NS reported a second-quarter profit on Wednesday that was slightly ahead of analysts' estimates on the back of healthy demand for housing loans.

The company, a unit of Life Insurance Corp of India LIFI.NS, said profit after tax more-than-tripled to 11.88 billion rupees ($142.72 million) during the quarter ended Sept. 30.

Analysts had expected the company to report a profit of 11.66 billion rupees, according to LSEG data.

Following a spate of interest rate hikes since May 2022, India has kept its key lending rate steady since February, which has led to home sales picking up, as was evident in DLF's DLF.NS and Macrotech Developers' MACE.NS recent quarterly results.

LIC Housing's net interest income jumped 83% to 21.07 billion rupees in the quarter.

Net interest margin, a key measure of profitability was 3.04%, compared with 1.78% a year earlier.

The company's total expenses rose 12%, including an increase of about 18% in finance costs.

"Demand continues to remain robust as the overall economy is doing well along with stabilisation of interest rates," LIC Housing CEO Tribhuwan Adhikari said.

Rival PNB Housing Finance PNBH.NS reported a jump in second-quarter profit last week, helped by a healthy demand for home loans and improved asset quality.

LIC Housing's shares closed 0.4% lower ahead of the results on Wednesday. The stock has gained about 10% so far this year, compared with a near 1% rise in Nifty Financial Services index .NIFTYFIN.

($1 = 83.2380 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru; Editing by Shounak Dasgupta)

(([email protected]))

Oct 26 (Reuters) - Macrotech Developers Ltd MACE.NS:

• TO SELL ENTIRE STAKE IN UNIT PALAVA INDUSLOGIC 3 TO NEWCOLD, NETHERLANDS

• DEAL FOR 1.54 BILLION RUPEES

Further company coverage: MACE.NS

(([email protected];))

Oct 5 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD- ACHIEVED ITS BEST EVER QUARTERLY PRE-SALES PERFORMANCE OF 35.3 BILLION RUPEES IN Q2

• MACROTECH DEVELOPERS LTD - NET DEBT REDUCED BY 5.4 BN RUPEES DURING QUARTER TO 67.3 BN RUPEES

• MACROTECH DEVELOPERS - REMAIN ON PATH TO ACHIEVE FY GUIDANCE OF NET DEBT BELOW 1X OF OCF OR 0.5X OF EQUITY, WHICHEVER LOWER

• MACROTECH DEVELOPERS LTD- COMPANY IS ON TARGET TO MEET ITS FULL-YEAR GUIDANCE FOR PRE-SALES

Source text for Eikon: ID:nNSE7HfKHr

Further company coverage: MACE.NS

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