Macrotech Developers, one of the leading real estate developers in the country, is in talks with two global investors to set up a platform that will invest over $1 billion to develop warehousing and industrial parks across the country. Macrotech Developers Managing Director (MD) and Chief Executive Officer (CEO) Abhishek Lodha told the media that the discussions are in the advanced stage for establishing a platform for warehousing and industrial parks. Hopefully, the firm will announce the deal in the next 3-4 weeks. The platform will be investing over $1 billion. There will be three partners in the platform, including the firm and two other global investors. Lodha said the company would mainly supply assets, including land and ready warehousing space, in the platform while the two partners will bring in equity investments to develop warehousing and light industrial parks. The three partners are likely to have an equal shareholding in the proposed platform, he said. Lodha said the company remained bullish on residential real estate as well as warehousing and industrial segments given the rising demand and would continue to expand and grow. Real estate major Macrotech Developers got listed last year by raising Rs 2,500 crore via its Initial Public Offer (IPO). In November, it raised Rs 4,000 crore via the Qualified Institutional Placement (QIP) route by selling equity shares to institutional investors. Lodha said the firm is targeting 27% growth in its sales bookings during the current financial year (FY) at Rs 11,500 crore on better demand prospects and a strong pipeline of new launches. The firm had given the pre-sales guidance of Rs 9,000 crore for the last FY, and IT reached sales bookings of Rs 9,024 crore despite trouble due to Covid-19 second wave in April-May last year, as well as the effect of Omicron in January 2022, Lodha said. The firm's sales bookings rose 57% to Rs 9,024 crore during the last FY from Rs 5,968 crore in 2020-21. The collections from customers increased 70% to Rs 8,597 crore in the 2021-22 from Rs 5,052 crore in the previous FY. The project's delivery nearly doubled to 5.3 million square feet from 2.7 million square feet. Out of the total target of Rs 11,500 crore in sales bookings in FY23, the firm anticipates sales bookings of Rs 10,500 crore from the residential segment and the rest from sales of commercial assets. The joint development agreement (JDA) strategy will enable the company to achieve the targeted growth in a very capital-light manner. Image Source Also read: Macrotech Developers redeems offshore bonds worth $170 mn