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Macrotech targets Rs 12,000 Billion revenue from Mumbai, Bengaluru ventures

2023-08-08

Real estate company Macrotech Developers Ltd recently acquired five plots of land in the Mumbai region and Bengaluru during the April to June quarter. These acquisitions are part of the company's plan to develop housing projects that have the potential to generate revenue of Rs 12,000 billion. Abhishek Lodha, MD and CEO of Macrotech Developers, expressed that they have successfully added projects worth Rs 120 billion in the first quarter of this fiscal year, aligning with their annual target guidance of Rs 175 billion. He stated to PTI that there are no revisions being made to their target for business development at present. Macrotech Developers operates under the Lodha brand, engaging in both land purchases and joint development agreements (JDAs) with landowners to establish a pipeline for future real estate ventures. "We are partners for landowners, offering both deals and JDAs," said Lodha.