Formerly | Lodha Developers |
---|---|
Type | Public |
NSE: LODHA BSE: 543287 | |
ISIN | INE670K01029 |
Industry | Real estate & construction |
Founded | 1980 |
Founder | Mangal Lodha |
Area served | Worldwide |
Key people | Abhishek Lodha [1] (CEO & MD) |
Products | Residential, Commercial |
Revenue | ₹9,230 crore (US$1.2 billion) (2022) |
₹2,049.93 crore (US$260 million) (2022) | |
₹1,202.37 crore (US$150 million) (2022) | |
Total assets | ₹39,308.05 crore (US$4.9 billion) (2021) |
Total equity | ₹5,125.85 crore (US$640 million) (2021) |
Number of employees | 2700+ (2021) |
Website | Official website |
Lodha or Macrotech Developers (formerly known as Lodha Developers) is an Indian multinational real estate company headquartered in Mumbai, India. [2] It was founded in 1980 by Mangal Prabhat Lodha. [3] It has developed residential and commercial properties in Mumbai, Thane, Hyderabad, Pune and London. Some of its notable projects include Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. [4] [3] [5] The company is also credited for developing Palava, an integrated smart city near Mumbai. [6] [7] The company was listed as Macrotech Developers on 19 April 2021. [8] [9]
Lodha Group was established by 1980 by Mangal Lodha, a businessman [10] and politician, who serves as Member of Legislative Assembly. [11]
In September 2007, the Deutsche Bank made an investment of ₹1,640 crore (US$205 million) by subscribing to the compulsorily convertible debentures (CCDs) of Lodha's subsidiary, Cowtown Land Development Limited. [12]
In May 2010, the company emerged the highest bidder to acquire a 22.5-acre plot in Wadala, Mumbai, for ₹4,053 crore (US$508 million) from Mumbai Metropolitan Region Development Authority (MMRDA). [13] [14]
In December 2012, Lodha Group acquired Washington House, a residential building owned by the US consulate on Altamont Road, for ₹341.82 crore (US$43 million). [15] Which was developed into Lodha Altamount.[ citation needed ]
It purchased 17 acres of land in Mumbai's prime location from DLF [16] for about ₹2,700 crore (US$338 million), nearly four times higher than the price at which DLF had bought the land in 2005. [17]
In November 2013, Lodha Group brought Macdonald House, London, [18] [19] a seven-storey building in central London from the Government of Canada for ₹3,120 crore (US$391 million). [20] The company acquired 87 acres of land in Thane from Clariant Chemicals India for ₹1,102.5 crore (US$138 million). [21]
It received an investment of ₹425 crore (US$53 million) from Piramal Fund Management for one of the company's project in May 2016. [22]
In September 2019, it was announced that the company was about to sell 7 lakh sq ft office space in Mumbai, India to Singapore-based Varde Partners for about ₹1,100 crore (US$138 million). [23] Earlier, Lodha sold its 29-storey office building in Mumbai's Wadala for ₹1,350 crore (US$169 million) to Tata Group's retail arm Trent. [24]
In Q3 of 2020, India Ratings and Research (Ind-Ra) and Moody's upgraded the rating for Lodha to stable. [25] [26] After getting listed on stock exchange, Moody's Investors Service changed the outlook on the ratings to positive from stable in April 2021. [9]
The company launched its initial public offering on 7 April 2021. [27] It got listed on National Stock Exchange of India and Bombay Stock Exchange on 19 April 2021. [9]
In September 2021, Tata Power entered into a partnership agreement with the group for setting up EV charging stations in housing societies and offices. [28]
Lodha (Macrotech Developers Ltd) and House of Abhinandan Lodha (HOABL) are distinct entities with no business relations. Abhishek Lodha spearheads Lodha, while Abhinandan Lodha leads House of Abhinandan Lodha.
Official websites for accurate information: www.lodhagroup.in for Lodha and www.hoabl.com for HOABL.
In September 2013, Lodha Group partnered with Donald Trump for the development of Trump Tower, Mumbai, an 800-ft-tall, 77-storey residential tower at Lower Parel, Mumbai. [4] [29] [30] Lodha Group has partnered with a number of celebrities to be brand ambassadors, including Aishwarya Rai, [31] Amitabh Bachchan, [32] Akshay Kumar and Twinkle Khanna. [33]
A buyer of Lodha Group's Wadala project flat published YouTube videos claiming irregularities by the company. [34] [35] [36] The company filed suit for defamation but the right to an injunction. [37]
Delhi Land & Finance is a commercial real estate development company. It was founded by Chaudhary Raghvendra Singh in 1946 and it is based in New Delhi, India. DLF has developed residential colonies in Delhi such as Model Town, Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, Kailash Colony, and Hauz Khas. DLF builds residential, office, and retail properties.
Housing Development and Infrastructure Limited, doing business as HDIL, is an Indian real estate development company based in Mumbai.
Altamount Road, also known as India's Billionaires’ Row, is an affluent neighbourhood in Mumbai, India.
World One is a 280.2 m (919 ft), 76 floor skyscraper in Mumbai, Maharashtra, India. As of 2023, it is the second tallest completed building in India..It is on the 7.1-hectare (17.5-acre) site of the defunct Shrinivas Mill. The site also houses two other towers: World View and World Crest. The complex was developed by the Lodha Group.
Ashiana Housing Ltd. (AHL) is an Indian real estate development company established in 1986 and headquartered in New Delhi, India. The firm is a real estate company that was recognized by Forbes as Asia's 200 Best Under A Billion in 2010 and 2011.
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Mindspace is a brand of commercial and industrial parks established by K Raheja Corp. Located in Mumbai, Hyderabad, Chennai and Pune, the industrial hubs offer offices, residential towers, entertainment facilities and other retail businesses. By 2016, the parks developed by Mindspace housed more than 50 businesses in India, including Accenture, L&T Infotech Ltd, Cognizant Technology and Capegemini Group.
Lodha Park is an 18.5-acre luxury residential skyscraper project which was developed by the Lodha Group in the upscale Lower Parel neighborhood of Mumbai, Maharastra, India. The land for the project was purchased from DLF Limited in 2012 for approximately ₹2,800 Crore. Lodha Park consists of 5 towers, each of which stand at a height of 268 meters and have 76 floors.
Raheja Developers Limited, (RDL), formerly Raheja Developers Private Limited, is an Indian real estate development company with its headquarters in Delhi, India.
Mangal Prabhat Lodha is an Indian billionaire businessman and politician. He is the Minister of Ministry of Tourism, Ministry of Skill Development and Entrepreneurship (Maharashtra). He was the president of Bharatiya Janata Party's Mumbai unit. He is the founder of the Macrotech Developers, a Mumbai-based real estate developer. He is also the Member of the Legislative Assembly representing the Malabar Hill constituency of South Mumbai.According to Forbes, as of October 2023, he is ranked as the 18th richest person in India, with a net worth of about US $7.2 Billion.
Niranjan Hiranandani is an Indian billionaire businessman, co-founder and managing director of Hiranandani Group, engaged in real estate business. He is ranked by Forbes among the 100 richest Indians, with a net worth of US$1.6 billion as of June 2021.
Lodha Altamount is a postmodern luxury residential skyscraper project located in the billionaires row of Mumbai, India. It was designed by Hadi Teherani.
Green Line 4 of the Mumbai Metro, currently under construction, is part of the metro system for the city of Mumbai, India and is being developed by MMRDA and a consortium of international companies.
Shrikant Prabhakar Joshi is the chief executive officer and managing director of L&T Realty, the Real-estate arm of $21 billion building and development conglomerate Larsen & Toubro Ltd.
Ajmera Realty & Infra India is a listed company based in Mumbai, India, founded in 1985 as Percolated Steels. It is a flagship company of the Ajmera group worth US$450 million and has core interests in realty, construction, cement, steel rolls and construction-related businesses. The company has diversified into solar power and seamless capsules.
Palava is an integrated smart city located near Dombivli in Maharashtra state. It is developed by real estate developer Lodha and is built on a 4,500-acre land located between Thane, Navi Mumbai and Kalyan. Palava City is also referred to as the City of Opportunity. It was listed as India's No.1 smart city by Jones Lang LaSalle India's proprietary research report.
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