Macrotech Developers Plans to Develop 16 Fully Owned and Joint Venture Projects With a Combined INR 10,300 Crore in 2023 Second Half

One of the biggest real estate developers in India, Macrotech Developers (better known as Lodha Group), is on the way to develop a massive 16 new projects with a combined projected sales potential of Rs 10,300 crore in the second half 2023.

Lodha is well-established in the MMR and Pune real estate sectors and has just debuted in Bengaluru with a single residential development.

An investor presentation states that between April and September of the current fiscal year, the firm launched a 4.4 million square foot space with a projected sales volume of Rs 8,480 crore.

Macrotech Developers plans to release 16 new projects with a combined 7.3 million square feet and Rs 10,300 crore in the second half of the current fiscal year.

These projects might be either entirely self-funded or developed in partnership with existing property owners.

Lodha emphasised that business had been brisk all through the month of October—the holiday shopping season—and that he was certain the upward trend would continue as a result of India's improving economy, job security, and wage growth.

Macrotech Developers recently reported a combined net loss of Rs 933 crore for the September quarter, all of which was attributable to provisions made for a loan provided to its British subsidiary for the building of projects. Its net income was Rs 223,36 crore in the same quarter a year ago.

Macrotech Developers' present and prospective portfolio totals over 100 million square feet, with over 89 million square feet already delivered.

The Lodha Group has more than 1,800 hectares of land that will be utilised to build new residential, commercial, industrial, and logistical sectors, in addition to its present and planned portfolio.