Macrotech acquires 7 land parcels for Rs 166 billion housing projects

17 Oct 2024 CW Team

Macrotech Developers, the Mumbai-based real estate firm behind the Lodha brand, has acquired seven land parcels across the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru to develop housing projects with an estimated revenue potential of Rs 166 billion.

The company has secured these parcels through a mix of outright purchases and joint development agreements with landowners. In a recent operational update, Macrotech revealed the addition of four projects in Pune and Bengaluru with a combined Gross Development Value (GDV) of Rs 55 billion.

In the first half of FY25, the company has already launched projects worth Rs 166 billion, exceeding 75% of its full-year guidance of Rs 210 billion. Three of the seven land parcels were acquired during the April-June quarter, with a projected revenue potential of Rs 111 billion.

Although the company did not specify how many of these acquisitions were outright purchases, it emphasised the strength of its development pipeline, stating, "We continue to see a robust pipeline of business development opportunities for our residential segment."

Earlier this month, Macrotech reported record-breaking sales bookings of Rs 42.9 billion during the July-September period, a 21% increase from Rs 35.3 billion in the same quarter last year. Despite the traditionally inauspicious ‘Shradhh’ period falling in September this fiscal year, the company achieved its best-ever quarterly pre-sales.

For FY25, Macrotech remains optimistic about achieving 20% growth in sales bookings. Last fiscal year, the company recorded Rs 145.2 billion in bookings, up 20% from Rs 120.6 billion in FY23, and is targeting Rs 175 billion in sales for the current fiscal year.

With a track record of delivering 100 million square feet of real estate, Macrotech is currently developing over 110 million square feet across ongoing and planned projects.

(Business Standard)

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..