Jul 01, 2022 04:01 PM
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Macrotech Developers Limited (formerly known Lodha Developers Limited) is a public limited company domiciled and incorporated in India under the Companies Act, 1956 in the year of 1980. The company is an Indian multinational real estate company headquartered in Mumbai, India, which 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. Moreover, it is presently credited for developing Palava, an integrated smart city near Mumbai. The company subsequently got listed on National Stock Exchange of India and Bombay Stock Exchange on April 19, 2021 respectively. In September 2007, the Deutsche Bank made an investment of Rs 1,640 crore (US$218 million) by subscribing to the compulsorily convertible debentures (CCDs) of Lodha`s subsidiary, Cowtown Land Development Limited. In May of the year 2010, Macrotech Developers emerged the highest bidder to acquire a 22.5-acre plot in Wadala, Mumbai, for Rs 4,053 crore (US$538 million) from Mumbai Metropolitan Region Development Authority (MMRDA). In December 2012, the company had acquired Washington House, a residential building owned by the US consulate on Altamont Road, for Rs 341.82 crore (US$45 million), Which was developed into Lodha Altamount. Further, it purchased a 17 acres land in Mumbai`s prime location from DLF for about Rs 2,700 crore (US$359 million), nearly four times higher than the price at which DLF had bought the land in 2005. In September 2013, the Group partnered with Donald Trump for development of Trump Tower Mumbai, an 800-ft-tall, 77-storey residential tower in Lower Parel, Mumbai. and with a number of celebrities to be brand ambassadors, including Aishwarya Rai, Amitabh Bachchan,Akshay Kumar and Twinkle Khanna. In the year 2013, the company received the CNBC Awaaz Real Estate Award for the project, Lodha Bellezza. In the year 2014, the Group was awared Global Leadership in Real Estate Award at NDTV Property Awards by NDTV. In the year of May 2016, it received an investment of Rs 425 crore (US$56 million) from Piramal Fund Management for one of company`s project. In 2018, the company bagged CNBC Awaaz Real Estate Award for the project, Lodha Altamount by CNBC.In November 2013, Macrotech Developers Group brought Macdonald House, London a seven-storey building in central London from the Government of Canada for Rs 3,120 crore (US$414 million), thru which the company acquired 87 acres of land in Thane from Clariant Chemicals India for Rs 1,102.5 crore (US$146 million). Macrotech 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 in the year of 2019. Moreover, it received an `Outstanding Project of the Year` (National Category) for Palava at Golden Brick Awards, Dubai. There was an announcement in the year of September 2019 that company was about to sell 7 lakh sq. ft. office space in Mumbai, India to Singapore-based Varde Partners for about Rs 1,100 crore (US$146 million). As reported earlier, the Macrotech Group sold nearly 29-storey office building in Mumbai`s Wadala for Rs 1,350 crore (US$179 million) to Tata Group`s retail arm Trent. In the year 2020, the company was awarded `Top Developer of the Year` for the project, The World Towers at the Times Real Estate Icons West India by The Times of India. In 2020, The World Towers of Lodha Group received recognition as `Project of the Year` and `Top Super Luxury` segment homes and Palava City was recognised as `Top Township Project` at the Times Real Estate Icons of West India (2020). Tata Power Company Limited, an Indian electric utility company based in Mumbai entered into a partnership agreement with Macrotech Developers for setting up EV charging stations in housing societies and offices in September 2021.
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|Face Value Equity Shares||:||10|
|Market Lot Equity Shares||:||1|
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