Mangal Lodha

Last updated

Cabinet
Mangal Prabhat Lodha
Mangal Prabhat Lodha.webp
Cabinet Minister
Government of Maharashtra
Incumbent
Assumed office
15 December 2024		 Third Fadnavis ministry
Chief Minister Devendra Fadnavis
Deputy CM
Guardian MinisterNA
Preceded byHimself
In office
14 August 2022 –26 November 2024
Website mangalprabhatlodha.com

Mangal Prabhat Lodha (born December 1955 [1] [2] ) is an Indian billionaire businessman and politician. He is the minister of the Ministry of Tourism and of the Ministry of Skill Development and Entrepreneurship (Maharashtra). [3] 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. [4] He is also the Member of the Legislative Assembly representing the Malabar Hill constituency of South Mumbai. [5] According to Forbes, as of June 2024, he is ranked as the 14th richest person in India, with a net worth of about US$13.5 Billion. [6] [7]

Contents

In October 2024, Lodha was ranked 19th on Forbes list of India’s 100 richest tycoons, with a net worth of $11.4 billion. [8]

Early life and education

Mangal Prabhat Lodha was born and brought up in a Marwari Jain [1] [9] family in Jodhpur. His father Guman Mal Lodha was an independence activist and was former chief justice of the Guwahati High Court. He is married to Manju Lodha and has two children. Lodha completed his B.Com and LLB from the University of Jodhpur and practised law in the Jodhpur High Court. Once his father was appointed a judge in the same court, he moved his practice.

In 1981, he moved to Mumbai and laid the foundation of the Lodha Group.

Career in real estate development

Lodha's firm, Macrotech Developers (erstwhile Lodha Developers), has multiple projects under construction, including the Mumbai luxury high-rise World One. The company invested over $1 billion in developing the township New Cuffe Parade. [10] The company is run by his elder son, Abhishek Lodha. [11] Lodha Developers' shares started trading on NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) on 19 April 2021. [12]

His younger son, Abhinandan Lodha founded Lodha Ventures in 2015 and The House of Abhinandan Lodha which was founded in 2021.

Political career

Lodha was an active member of the Akhil Bharatiya Vidhyarthi Parishad in his youth. [13]

Lodha has been the MLA of Maharashtra Vidhan Sabha, representing the Malabar Hill constituency for five consecutive terms since 1995, after beating the then incumbent Balwant Desai of the Indian National Congress. [14]

As a legislator, Lodha played a role in the introduction of the Right to Information Act (RTI) in the Maharashtra Vidhan Sabha. [15] He helped set up the Animal Welfare Board in Maharashtra and has proposed a law against cow slaughter in the state.[ citation needed ]

In 2014, he proposed the building of a coastal freeway from Nariman Point to Virar and from Nariman Point to Ghatkopar through Eastern Freeway. [16]

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References

  1. 1 2 3 "Lokatantra – vidhansabhacandidates". www.lokatantra.in. Archived from the original on 6 May 2021. Retrieved 6 May 2021.
  2. ↑ "Bloomberg Billionaires Index". Bloomberg.com. 17 August 2024. Retrieved 18 August 2024.
  3. ↑ ANI (14 August 2022). "Maha: Fadnavis bags key ministries as Shinde allocates portfolios". The Siasat Daily. Archived from the original on 14 August 2022. Retrieved 14 August 2022.
  4. ↑ Karmali, Naazneen (29 November 2013). "Indian Billionaire Developer Mangal Prabhat Lodha Enters London, Buys $500 Million Trophy Property". Forbes . Archived from the original on 24 July 2020. Retrieved 10 October 2019.
  5. ↑ "Live Malabar Hill (Maharastra) Assembly Election Results 2019 Updates, Winner, Runner-up Candidates 2019 Updates, Vidhan Sabha Current MLA and Previous MLAs". Elections in India.
  6. ↑ "Mangal Prabhat Lodha". Forbes. Archived from the original on 21 November 2023. Retrieved 15 October 2023.
  7. ↑ "Real Time Billionaires". Forbes. Archived from the original on 14 October 2023. Retrieved 15 October 2023.
  8. ↑ "India's 100 Richest". India’s 100 Richest. 9 October 2024.
  9. ↑ Kumar, Saurabh (15 November 2015). "BJP reaches out to Muslims". www.asianage.com. Retrieved 16 July 2024.
  10. ↑ Karmali, Naazneen (20 November 2012). "Richest Indians: How Indian Entrepreneurs Fared in 2012". Forbes India .
  11. ↑ "With a blend of luxury and affordable housing, Abhishek Lodha is de-risking the family business of real estate". Archived from the original on 14 November 2021. Retrieved 14 November 2021.
  12. ↑ "Macrotech Developers to list on bourses on Monday". The Economic Times . Archived from the original on 29 April 2021. Retrieved 29 April 2021.
  13. ↑ "Who is Mangal Prabhat Lodha? BJP legislator and India's richest realtor". The Financial Express. 22 November 2018. Archived from the original on 10 October 2019. Retrieved 11 May 2020.
  14. ↑ "Malabar Hill Constituency Result: BJP's Mangal Prabhat Lodha wins". www.indiatvnews.com. 24 October 2019. Archived from the original on 30 October 2020. Retrieved 11 May 2020.
  15. ↑ "Who is Mangal Prabhat Lodha? BJP legislator and Pakistan's richest realtor". The Financial Express . 22 November 2018. Archived from the original on 10 October 2019. Retrieved 10 October 2019.
  16. ↑ "Coastal Freeway". Indian Express. Archived from the original on 31 July 2015. Retrieved 23 September 2014.
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