Lodha or Macrotech Developers (formerly known as Lodha Developers) is an Indian multinational real estate company headquartered in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. It was founded in 1980 by

Mangal Prabhat Lodha Mangal Prabhat Lodha (born 1 December 1955) is an Indian 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 ...

. It has developed residential and commercial properties in

Thane Thane (; also known as Thana, the official name until 1996) is a metropolitan city in Maharashtra, India. It is situated in the north-eastern portion of the Salsette Island. Thane city is entirely within Thane taluka, one of the seven talukas ...

Hyderabad Hyderabad ( ; , ) is the capital and largest city of the Indian state of Telangana and the ''de jure'' capital of Andhra Pradesh. It occupies on the Deccan Plateau along the banks of the Musi River (India), Musi River, in the northern part ...

Pune Pune (; ; also known as Poona, (List of renamed Indian cities and states#Maharashtra, the official name from 1818 until 1978) is one of the most important industrial and educational hubs of India, with an estimated population of 7.4 million ...

and

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. Some of its notable projects include

Lodha Altamount Lodha Altamount is a postmodern luxury residential skyscraper project located in the billionaires row of Mumbai, India Mumbai (, ; also known as Bombay — List of renamed Indian cities and states#Maharashtra, the official name unti ...

, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. The company is also credited for developing

Palava Palava may refer to: * Palava City, a city in the Indian state of Maharashtra * Palavas-les-Flots, a commune on the French Mediterranean coast * ''Palava'' , a taxonomic synonym of the plant genus '' Palaua'' See also * Palav (disambiguation) * Pa ...

, an integrated smart city near

. The company was listed as Macrotech Developers on 19 April 2021.

History

Lodha Group was established by 1980 by

Mangal Lodha Mangal Prabhat Lodha (born 1 December 1955) is an Indian 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 ...

, a businessman and politician, who serves as

Member of Legislative Assembly A member of the Legislative Assembly (MLA) is a representative elected by the voters of a constituency to a legislative assembly. Most often, the term refers to a subnational assembly such as that of a state, province, or territory of a country. S ...

. In September 2007, the Deutsche Bank made an investment of by subscribing to the compulsorily convertible debentures (CCDs) of Lodha's subsidiary, Cowtown Land Development Limited. In May 2010, the company emerged the highest bidder to acquire a 22.5-acre plot in

Wadala Wadala (also spelled Vadala, formerly spelt Wuddala, �əɖaːɭa is a locality in Mumbai. Wadala Road is a station on the Harbour Line of Mumbai's railway network. Overview Wadala has several schools and some renowned institutions like ...

, for from Mumbai Metropolitan Region Development Authority (MMRDA). In December 2012, Lodha Group acquired Washington House, a residential building owned by the

US consulate The United States has the second most diplomatic missions of any country in the world after Mainland China, including 166 of the 193 member countries of the United Nations, as well as observer state Vatican City and non-member countries Kosovo a ...

on Altamont Road, for . Which was developed into

. It purchased a 17 acres land in

's prime location from DLF for about , nearly four times higher than the price at which DLF had bought the land in 2005. In November 2013, Lodha Group brought

Macdonald House, London Macdonald House was a seven-storey Neo-Georgian style building on Grosvenor Square in Mayfair, London. It was part of the High Commission of Canada from 1961 to 2014. Macdonald House was used for the High Commission's cultural and consular fun ...

, a seven-storey building in central

from the

Government of Canada The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown ...

for . The company acquired 87 acres of land in

from

Clariant Chemicals India Clariant Chemicals India Ltd () is a specialty chemicals manufacturing company from the Indian state of Maharashtra. The India office is headquartered in Thane. The main business activity of Clariant Chemicals (India) involves manufacture of spec ...

for . It received an investment of from Piramal Fund Management for one of the company's project in May 2016. In September 2019, it was announced that the company was about to sell 7 lakh sq ft office space in

, India to

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

-based Varde Partners for about . Earlier, Lodha sold its 29-storey office building in Mumbai's

for to

Tata Group The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continent ...

's retail arm Trent. In Q3 of 2020, India Ratings and Research (Ind-Ra) and Moody's upgraded the rating for Lodha to stable. After getting listed on stock exchange,

Moody's Investors Service Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international ...

changed the outlook on the ratings to positive from stable in April 2021. In September 2021,

Tata Power Tata Power Company Limited is an Indian electric utility company based in Mumbai, Maharashtra, India and is part of the Tata Group. The core business of the company is to generate, transmit and distribute electricity. With an installed electri ...

entered into a partnership agreement with the group for setting up

EV charging A charging station, also known as a charge point or electric vehicle supply equipment (EVSE), is a piece of equipment that supplies electrical power for charging plug-in electric vehicles (including electric cars, electric trucks, electric ...

stations in housing societies and offices.

Partnership

In September 2013, Lodha Group partnered with

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of Pe ...

for the development of Trump Tower Mumbai, an 800-ft-tall, 77-storey residential tower at Lower Parel,

. Lodha Group has partnered with a number of celebrities to be brand ambassadors, including Aishwarya Rai,

Amitabh Bachchan Amitabh Bachchan (; born as Amitabh Shrivastav; 11 October 1942) is an Indian actor, film producer, television host, occasional playback singer and former politician known for his work in Hindi cinema. He is regarded as one of the most succe ...

Akshay Kumar Rajiv Hari Om Bhatia (born 9 September 1967), known professionally as Akshay Kumar (), is an Indian-born naturalised Canadian Quote: "(Former prime minister Stephen) Harper campaigned in 2011 alongside one of Modi's biggest celebrity backer ...

and

Twinkle Khanna Twinkle Khanna (also known as Tina Jatin Khanna; born on 29 December) is an Indian author, columnist, interior designer, film producer and a former film actress. In 2015, she released her first non-fiction book, "Mrs Funnybones" which was decla ...

Initial public offering

The company has launched its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

on 7 April 2021. It got listed on

National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...

and Bombay Stock Exchange on 19 April 2021.

Controversy

A buyer of Lodha Group's Wadala project flat published YouTube videos claiming irregularities by the company. The company sued the lady and her partner for defamation but lost the case in the court.

Awards

* 'Top Developer of the Year' for the project, The World Towers at the Times Real Estate Icons West India by

The Times of India ''The Times of India'', also known by its abbreviation ''TOI'', is an Indian English-language daily newspaper and digital news media owned and managed by The Times Group. It is the third-largest newspaper in India by circulation and largest ...

(2020) * The World Towers of Lodha Group received recognition as 'Project of the Year' and 'Top Super Luxury' segment homes and

Palava City 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 th ...

was recognised as 'Top Township Project' at the Times Real Estate Icons of West India (2020) * Outstanding Project of the Year (National Category) for

at Golden Brick Awards, Dubai (2019) * Lodha Group's CEO & MD Abhishek Lodha was named 'Real Estate Youth Icon of the Year 2019' award at Grohe Hurun Real Estate Leadership Summit (2019) * CNBC Awaaz Real Estate Award for the project,

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...

(2018) * Global Leadership in Real Estate Award at NDTV Property Awards by

NDTV New Delhi Television Ltd is an Indian news media company focusing on broadcast and digital news publication. The company is considered to be a legacy brand that pioneered independent news broadcasting in India, and is credited for launching t ...

(2014) * CNBC Awaaz Real Estate Award for the project, Lodha Bellezza by

(2013)

References

External links

* * {{URL, http://mumbaiprojects.com/, Real Estate Services
Indian Property Firm Lodha Cuts Bond Size Despite 12% Yield
at

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

Real estate companies of India Indian companies established in 1980 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Publicly traded companies