IPO Central

Lodha Developers IPO description – The company is the largest real estate developer in India, by residential sales value for FY2014 to 2020. Its core business is residential real estate developments with a focus on affordable and mid-income housing. Currently, the company has residential projects in the MMR and Pune. In 2019, it forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte Limited. The company also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.

Macrotech’s affordable and mid-income housing developments accounted for 57.8% and 57.8% of its total residential sales, during the nine months ended 31 December 2020 and the FY2020, respectively. As of 31 December 2020, the company has 91 completed projects comprising approximately 77.2 million square feet of Developable Area. It also has 36 ongoing projects comprising approximately 28.8 million square feet of Developable Area, of which 23.57 million square feet is in affordable and mid-income housing.

In addition to the ongoing and planned projects, as of 31 December 2020, the company has land reserves of approximately 3,803 acres for future development in the MMR, with the potential to develop approximately 322 million square feet of Developable Area.

Promoters of Lodha Macrotech Developers – Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust