Incorporated in 1995, Macrotech Developers Limited [Formerly known as Lodha Developers] is the largest real estate developer in India. The developer mostly focuses on affordable and mid-income housing with projects mostly in the Mumbai Metropolitan Region and Pune. In 2019, it entered into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte., a subsidiary of ESR Cayman Ltd., an Asia Pacific focused logistics real estate platform. It also develops commercial real estate, including mixed-use developments in and around its residential projects.
As on Dec. 31, the company had a land reserve, including land with developmental rights, of about 3,803 acres with an estimated developable area of about 322 million square feet for future development in the Mumbai region. Of this, about 500 acres are located at Upper Thane and about 3,303 acres are located in Dombivali as a part of the Palava project. At the end of December, the company had 91 completed projects comprising about 77.22 million square feet of developable area; 36 ongoing projects with 28.78 msf of developable area; and 18 planned projects having 45.08 msf developable area.Under the logistic and industrial park portfolio, it has planned to develop an industrial park of over 800 acres of land near Palava. However, the commercial real estate portfolio includes projects like corporate offices, IT campuses, and boutique office spaces. As on Dec 31 2020, the firm has successfully completed 91 projects comprising 77.22 million sq. ft. of developable area, with 59.13 million sq. ft. in the affordable housing segment.
Objectives of the Issue:
The IPO aims to raise money for the following purposes;
- To reduce aggregate outstanding borrowings of the company on consolidated basis.
- To acquire land or land development rights.
- To meet general corporate purposes.
SMART IPO using UPI , you can now apply online https://ipo.gwcindia.in/client/index.php
Further any clarification, feel free to contact your Branch / Relationship Manager.
For all your investment needs feel free to reach us. Give us a missed call at 90037 90027. For Support : 044-40329999