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Macrotech Developers, one of Indias leading real estate firms, has acquired 10 land parcels in the fiscal year 2024-25 for the development of housing projects with a total sales value of nearly ?24,000 crore. This acquisition aligns with the companys strategy to expand its business amid strong demand in the housing market. The company, which markets properties under the Lodha brand, had previously set a guidance of acquiring land parcels with a revenue potential of ?21,000 crore for FY25. In its latest operational update, Macrotech revealed that it had acquired two new land parcels in Pune, with a gross development value (GDV) of ?4,300 crore. Across the Mumbai Metropolitan Region (MMR), Bengaluru, and Pune, Macrotech successfully acquired 10 land parcels totaling approximately ?23,700 crore in GDV, surpassing its full-year target of ?21,000 crore. While the exact number of outright purchases was not disclosed, the company noted that it engages in both direct land acquisitions and partnerships with landowners to develop housing projects. In addition to the land acquisitions, Macrotech reported a 14% increase in sales bookings, achieving a record ?4,810 crore in the fourth quarter of FY24, compared to ?4,230 crore in the same period last year. The company, led by Abhishek Lodha, continues to expand its footprint in the MMR, Pune, and Bengaluru housing markets. Apart from residential development, Macrotech is also focused on building industrial and logistics parks, as well as office and retail spaces across major cities. Currently, Macrotech Developers is embroiled in a legal dispute with House of Abhinandan Lodha, a company formed by his younger brother, over the use of the Lodha brand name. |
