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{{short description|Indian real estate company}}
{{Infobox company
| name = Lodha Group
| logo =
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| former_name = Lodha Developers
| type = Public
| traded_as = {{NSE|LODHA}}<br>{{BSE|543287}}
| ISIN =INE670K01029
| ISIN2 =
| industry = [[Real estate]] & [[construction]]
| founded = {{Start date and age|1980}}
| founder = [[Mangal Lodha]]
| area_served = Worldwide
| key_people = Abhishek Lodha<ref>{{cite news |title=Abhishek Lodha: Property pasha|url=http://www.forbesindia.com/article/tycoons-of-tomorrow/abhishek-lodha-property-pasha/51349/1 |publisher=[[Forbes India]] |date=Sep 21, 2018}}</ref> (<small>CEO & MD</small>)
| products = Residential, Commercial
| brands =
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| website = {{URL|https://www.lodhagroup.com/|Official website}}
}}
'''Lodha Group''' or '''Macrotech Developers''' (formerly known as '''Lodha Developers''') is an Indian [[real estate company]] with its headquarters in [[Mumbai]], [[India]].<ref>{{cite news |last1=Bundhun |first1=Rebecca |title=Branded Homes Make Waves Among the Elite in India |url=https://www.nytimes.com/2015/04/17/greathomesanddestinations/branded-homes-make-waves-among-the-elite-in-india.html |work=[[The New York Times]] |date=April 17, 2015}}</ref> It was founded in 1980 by [[Mangal Prabhat Lodha]].<ref name=forbes>{{cite news |last1=Bhua |first1=Rajiv |title=The high rise of Abhisheck Lodha |url=https://www.fortuneindia.com/ideas/the-high-rise-of-abhisheck-lodha/100713 |publisher=[[Fortune (magazine)|Fortune]] |date=March 5, 2013}}</ref> It has developed residential and commercial properties in [[Mumbai]], [[Thane]], [[Hyderabad]], [[Pune]] and [[London]]. Some of its notable projects include [[Lodha Altamount]], [[World One|The World Towers]], [[Lodha Bellissimo]], Trump Tower Mumbai and [[The Park (residential project)|Lodha Park]].<ref name=timesofindia>{{cite news |title=Donald Trump back in Mumbai, this time with Lodha Group |url=https://www.business-standard.com/article/companies/donald-trump-back-in-mumbai-this-time-with-lodha-group-113091700640_1.html |publisher=[[Business Standard]] |date=September 18, 2013}}</ref><ref name=forbes/><ref>{{cite news |last1=Kenney |first1=Carolyn |last2=Norris |first2=John |title=Trump's Conflicts of Interest in India |url=https://www.americanprogress.org/issues/security/news/2017/06/14/433933/trumps-conflicts-interest-india/ |publisher=[[Center for American Progress]] |date=June 14, 2017}}</ref> The company is also credited for developing [[Palava City|Palava]], an integrated [[smart city]] near [[Mumbai]].<ref>{{cite news |title=Palava City, Navi Mumbai, Mohali top emerging cities: JLL |url=https://zeenews.india.com/real-estate/palava-city-navi-mumbai-mohali-top-emerging-cities-jll-2045699.html |publisher=[[Zee News]] |date=September 26, 2017}}</ref><ref>{{cite news |title=Lodha Group's Palava ranked India's No. 1 City to Live In by Jones Lang LaSalle |url=https://www.financialexpress.com/industry/lodha-groups-palava-ranked-indias-no-1-city-to-live-in-by-jones-lang-lasalle/849446/ |publisher=[[The Financial Express (India)]] |date=September 10, 2017}}</ref> The company was listed as Macrotech Developers on April 19, 2021.<ref>{{cite news |title=Lodha Developers changes name to Macrotech |url=https://www.pressreader.com/india/business-standard/20190531/281569472212420 |publisher=[[Business Standard]] |date=May 31, 2019}}</ref><ref name=mint/>

== History ==
Lodha Group was established by 1980 by [[Mangal Lodha]], a businessman<ref>{{cite news |title=#804 Mangal Prabhat Lodha |url=https://www.forbes.com/profile/mangal-prabhat-lodha/#5640f8ad54ca |accessdate=21 August 2019 |work=[[Forbes]]}}</ref> and politician, who serves as [[Member of Legislative Assembly (India)|Member of Legislative Assembly]].<ref>{{cite news |title=BJP MLA Mangal Prabhat Lodha from Mumbai in India |url=https://timesofindia.indiatimes.com/city/mumbai/bjp-mla-mangal-prabhat-lodha-in-mumbai-is-richest-builder-in-india/articleshow/66744505.cms |work=[[The Times of India]] |date=November 22, 2018}}</ref>

In September 2007, the Deutsche Bank made an investment of {{INRConvert|1640 |c|0}} by subscribing to the compulsorily convertible debentures (CCDs) of Lodha's subsidiary, Cowtown Land Development Limited.<ref>{{cite news |title=Deutsche Bank exits Lodha investment |url=https://www.business-standard.com/article/companies/deutsche-bank-exits-LODHA-investment-112021000056_1.html |publisher=[[Business Standard]] |date=February 10, 2012}}</ref>

In May 2010, the company emerged the highest bidder to acquire a 22.5-acre plot in [[Wadala]], [[Mumbai]], for {{INRConvert|4053|c|0}} from [[Mumbai Metropolitan Region Development Authority]] (MMRDA).<ref>{{cite news |title=Lodha secures Mumbai land for Rs 4,053 cr |url=https://www.business-standard.com/article/companies/LODHA-secures-mumbai-land-for-rs-4-053-cr-110052600057_1.html |publisher=[[Business Standard]] |date=January 20, 2013}}</ref><ref>{{cite news |last1=Nair |first1=Shalini |title=In Mumbai, Rs 4,053 cr for 25,000 sq metres |url=http://archive.indianexpress.com/news/in-mumbai-rs-4053-cr-for-25000-sq-metres/623856/ |publisher=[[Indian Express]] |date=May 26, 2010}}</ref>

In December 2012, Lodha Group acquired Washington House, a residential building owned by the [[US consulate]] on [[Altamont Road]], for {{INRConvert|341.82|c|0}}.<ref>{{cite news |last1=Mehta |first1=Rajshri |title=Prime Altamont Road property of US consulate sells for Rs 342 crore |url=https://timesofindia.indiatimes.com/city/mumbai/Prime-Altamont-Road-property-of-US-consulate-sells-for-Rs-342-crore/articleshow/17577670.cms |work=[[The Times of India]] |date=December 12, 2012}}</ref>

It purchased a 17 acres land in [[Mumbai]]'s prime location from [[DLF (company)|DLF]]<ref>{{cite news |title=India's Lodha to buy DLF's Mumbai plot for $488 mln |url=https://www.reuters.com/article/india-dlf-lodha/indias-lodha-to-buy-dlfs-mumbai-plot-for-488-mln-idUSWNBS173020120813 |publisher=[[Reuters]] |date=August 13, 2012}}</ref> for about {{INRConvert|2700|c|0}}, nearly four times higher than the price at which [[DLF (company)|DLF]] had bought the land in 2005.<ref>{{cite news |title=DLF sells 17 acres Mumbai land to Lodha for Rs 2,700 cr |url=https://www.thehindubusinessline.com/companies/dlf-sells-17-acres-mumbai-land-to-lodha-for-rs-2700-cr/article23086577.ece |publisher=[[The Hindu Business Line]] |date=August 13, 2012}}</ref>

In November 2013, Lodha Group brought [[Macdonald House, London]],<ref>{{cite news |last1=White |first1=Anna |title=Indian billionaires are buying up prime central London |url=https://www.telegraph.co.uk/finance/property/house-prices/10903531/Indian-billionaires-are-buying-up-prime-central-London.html |publisher=[[The Daily Telegraph]] |date=June 16, 2014}}</ref><ref>{{cite news |title=Lodha Group buys MacDonald House for Rs. 3,120 crore |url=https://www.thehindu.com/business/Industry/lodha-group-buys-macdonald-house-for-rs-3120-crore/article5405495.ece |work=[[The Hindu]] |date=November 30, 2013}}</ref> a seven-storey building in central [[London]] from the [[Government of Canada]] for {{INRConvert|3120 |c|0}}.<ref>{{cite news |title=Lodha Developers buys prime diplomatic property in UK |url=https://www.businesstoday.in/money/real-estate/lodha-developers-buys-prime-property-macdonald-house-uk/story/201025.html |publisher=[[Business Today (India)|Business Today]] |date=November 29, 2013}}</ref> The company acquired 87 acres of land in [[Thane]] from [[Clariant Chemicals India]] for {{INRConvert|1102.5|c|0}}.<ref>{{cite news |title=Clariant Chemicals Completes Rs. 1,154-Cr Land Deal With Lodha |url=https://www.ndtv.com/business/clariant-chemicals-completes-rs-1-154-cr-land-deal-with-lodha-720868 |publisher=[[NDTV]] |date=December 31, 2014}}</ref>

It received an investment of {{INRConvert|425 |c|0}} from Piramal Fund Management for one of the company's project in May 2016.<ref>{{cite news |title=Piramal Fund Management invests Rs 425 crore in Lodha Project |url=https://www.business-standard.com/article/companies/piramal-fund-management-invests-rs-425-crore-in-LODHA-project-116052300489_1.html |publisher=[[Business Standard]] |date=May 23, 2016}}</ref>

In September 2019, it was announced that the company was about to sell 7 lakh sq ft office space in [[Mumbai]], India to [[Singapore]]-based Varde Partners for about {{INRConvert|1100|c|0}}.<ref>{{cite news |title=Lodha group to sell 7 lakh sq ft office space in Mumbai to Singapore firm for Rs 1,100 crore |url=https://www.businesstoday.in/current/corporate/lodha-group-to-sell-7-lakh-sq-ft-office-space-in-mumbai-to-singapore-firm-for-rs-1100-crore/story/380681.html |publisher=[[Business Today (India)|Business Today]] |date=September 23, 2019}}</ref> Earlier, Lodha sold its 29-storey office building in Mumbai's [[Wadala]] for {{INRConvert|1350|c|0}} to [[Tata Group]]'s retail arm Trent.<ref>{{cite news |title=International investor, Tatas buy Wadala building for Rs 1,350 crore |url=https://timesofindia.indiatimes.com/city/mumbai/international-investor-tatas-buy-wadala-building-for-rs-1350-crore/articleshow/71212329.cms |work=[[The Times of India]] |date=September 20, 2019}}</ref>

In Q3 of 2020, India Ratings and Research (Ind-Ra) and [[Moody's Investors Service|Moody]]'s upgraded the rating for Lodha to stable.<ref>{{cite news |last1=Babar |first1=Kailash |title=Moody's affirms Macrotech Developers' Caa1 rating; changes outlook to stable |url=https://economictimes.indiatimes.com/markets/stocks/news/moodys-affirms-macrotech-developers-caa1-rating-changes-outlook-to-stable/articleshow/79207489.cms |publisher=[[The Economic Times]] |date=November 13, 2020}}</ref><ref>{{cite news |last1=Lele |first1=Abhijit |title=Ind-Ra upgrades ratings for Lodha Developers group company Macrotech |url=https://www.business-standard.com/article/companies/ind-ra-upgrades-ratings-for-lodha-developers-group-company-macrotech-120122401257_1.html |publisher=[[Business Standard]] |date=December 25, 2020}}</ref> Afer getting listed on stock exchange, [[Moody's Investors Service]] changed the outlook on the ratings to positive from stable in April 2021.<ref name=mint>{{cite news |last1=Nandy |first1=Madhurima |title=Post IPO, Moody’s changes Macrotech’s rating outlook to positive |url=https://www.livemint.com/market/ipo/post-ipo-moody-s-changes-macrotech-s-rating-outlook-to-positive-11619182743915.html |publisher=[[Livemint]] |date=April 23, 2021}}</ref>

== Partnership ==
In September 2013, Lodha Group partnered with [[Donald Trump]] for the development of Trump Tower Mumbai, an 800-ft-tall, 77-storey residential tower at [[Lower Parel]], [[Mumbai]].<ref name=timesofindia/><ref>{{cite news |title=Trump's India partner Lodha tied to Modi: Is US President profiteering from his foreign policy decisions? |url=https://www.financialexpress.com/industry/trumps-india-partner-lodha-tied-to-modi-is-us-president-profiteering-from-his-foreign-policy-decisions/727267/ |publisher=[[The Financial Express (India)]] |date=June 20, 2017}}</ref><ref>{{cite news |title=Trump Tower to be ready next year |url=https://www.thehindu.com/news/cities/mumbai/trump-tower-to-be-ready-next-year/article22829294.ece |work=[[The Hindu]] |date=February 23, 2018}}</ref> Lodha Group has partnered with a number of celebrities to be brand ambassadors, including [[Aishwarya Rai]],<ref>{{cite news |title=Aishwarya Rai to endorse Lodha's Worli project |url=https://economictimes.indiatimes.com/industry/services/advertising/aishwarya-rai-to-endorse-lodhas-worli-project/articleshow/21925698.cms |publisher=[[The Economic Times]] |date=August 20, 2013}}</ref> [[Amitabh Bachchan]],<ref>{{cite news |last1=Kamath |first1=Raghavendra |title=Lodha: Real estate's top marketerl |url=https://www.sify.com/finance/lodha-real-estate-s-top-marketer-news-editors-picks-oc1c5Uejdggsi.html |publisher=[[Business Standard]] |date=February 27, 2014}}</ref> [[Akshay Kumar]] and [[Twinkle Khanna]].<ref>{{cite news |title=Power couple Akshay Kumar and Twinkle Khanna to endorse Lodha Group project |url=https://brandequity.economictimes.indiatimes.com/news/advertising/power-couple-akshay-kumar-and-twinkle-khanna-to-endorse-lodha-group-project/51583990 |publisher=[[The Economic Times]] |date=March 28, 2016}}</ref>

== IPO ==
The company has launched its [[Initial public offering|IPO]] on April 7, 2021.<ref>{{cite news |last1=Manghat |first1=Sajeet |title=Macrotech Developers IPO: All You Need To Know |url=https://www.bloombergquint.com/ipos/macrotech-developers-ipo-all-you-need-to-know |publisher=[[BloombergQuint]] |date=April 6, 2021}}</ref> It got listed on [[National Stock Exchange of India]] and [[Bombay Stock Exchange]] in on April 19, 2021.<ref name=mint/>

== Awards ==
* 'Top Developer of the Year' for the project, [[World One|The World Towers]] at the Times Real Estate Icons West India by [[The Times of India]] (2020)<ref name=whatshot>{{cite news |last1=Nalwalla |first1=Sanaa |title=Times Real Estate Icons Recognises West India's Best Real Estate Companies |url=https://www.whatshot.in/pune/times-group-celebrates-real-estate-icons-in-west-india-c-25396 |publisher=WhatsHot |date=September 30, 2020}}</ref>
* [[World One|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 [[The Times of India|Times Real Estate Icons]] of West India (2020)<ref name=whatshot/>
* Outstanding Project of the Year (National Category) for [[Palava City|Palava]] at Golden Brick Awards, Dubai (2019)<ref>{{cite news |title=The Golden Brick Awards 2019 - 4th Edition |url=https://www.zricks.com/Updates/The-Golden-Brick-Awards-2019-4th-Edition/8923# |publisher=Zricks.com |date=2019}}</ref>
* 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)<ref>{{cite web |title=GROHE Hurun India Real Estate Leadership Summit 2019 |url=https://www.hurunindia.net/grohe-hurun-real-estate-summit-2018-1 |website=Hurunindia.net |date=2019}}</ref>
* CNBC Awaaz Real Estate Award for the project, [[Lodha Altamount]] by [[CNBC]] (2018)<ref>{{cite news |title=Winners 2018 |url=https://www.realestateawards.co.in/winners-2018/ |publisher=realestateawards.co.in}}</ref>
* Global Leadership in Real Estate Award at NDTV Property Awards by [[NDTV]] (2014)<ref>{{cite web |title=Property Awards Winners 2014 |url=https://properties.awards.ndtv.com/winners-2014/ |publisher=[[NDTV]]}}</ref>
* CNBC Awaaz Real Estate Award for the project, Lodha Bellezza by [[CNBC]] (2013)<ref>{{cite news |title=CNBC Awaaz gives away Real Estate Awards 2013 |url=https://bestmediainfo.com/2013/12/cnbc-awaaz-gives-away-real-estate-awards-2013/ |publisher=BestMediaInfo |date=December 26, 2013}}</ref>

== See also ==

* [[List of tallest buildings in India]]
* [[List of tallest buildings in Mumbai]]
== References ==
{{reflist}}

== External links ==
* {{URL|https://www.lodhagroup.com/|Official website}}
* [https://blogs.wsj.com/moneybeat/2015/03/12/indian-property-firm-lodha-cuts-bond-size-despite-12-yield/ Indian Property Firm Lodha Cuts Bond Size Despite 12% Yield] at [[The Wall Street Journal]]

[[Category:Real estate companies of India]]
[[Category:Indian companies established in 1980]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Lodha Group - Revision history

CleanupBot II at 10:04, 14 August 2023