Macrotech to develop its first housing project in Bengaluru

24 Jun 2022 CW Team

In a regulatory filing, Macrotech Developers said it would obtain 100% equity of G Corp Homes to make entry into the Bengaluru market.

Macrotech Developers, which sells its properties under the Lodha brand, has a powerful presence in Mumbai Metropolitan Region (MMR) and Pune.

Macrotech said the firm's first project in Bengaluru has been inked through the joint development agreement (JDA) route by acquiring 100% equity shares of a firm namely G Corp Homes Pvt Ltd.

G Corp Homes has been acquired for a value of Rs 21 crore, and property consultant Anarock facilitated the contract. The project is located in neighbouring Manyata Tech Park.

The project has a gross development value (GDV) potential of about Rs 1,200 crore and a saleable area of about 1.3 million sq ft. The project launch is likely in the next 6-12 months.

Macrotech said Bengaluru would be the third housing market where the firm's residential developments will be open for the clients, thereby covering almost two-thirds of the housing market of the top seven Indian cities.

This follows the firm's successful expansion in Pune, where it now has two functioning projects and several more to be established in FY23.

On the back of strong underlying housing demand and consolidation in the industry, the firm hopes to grow its pre-sales by over 20% compound annual growth rate (CAGR) in the medium term, Macrotech said.

The foray into the Bengaluru market will be one of the drivers of sustainable, and low-risk growth.

The firm has recruited Rajendra Joshi as CEO for the Bengaluru market, Macrotech said.

During the current fiscal year, Macrotech Developers is targeting a 27% increase in its sales bookings at Rs 11,500 crore on better demand prospects and a robust pipeline of new launches. Its sales bookings stood at Rs 9,000 crore in the previous financial year (FY).

Image Source

Also read: Macrotech Developers redeems offshore bonds worth $170 mn

Realty major, Macrotech Developers Ltd on Thursday told the media that its entry into the Bengaluru market, and has formed a joint venture (JV) to develop its first housing project with an estimated sales bookings value of Rs 1,200 crore. In a regulatory filing, Macrotech Developers said it would obtain 100% equity of G Corp Homes to make entry into the Bengaluru market. Macrotech Developers, which sells its properties under the Lodha brand, has a powerful presence in Mumbai Metropolitan Region (MMR) and Pune. Macrotech said the firm's first project in Bengaluru has been inked through the joint development agreement (JDA) route by acquiring 100% equity shares of a firm namely G Corp Homes Pvt Ltd. G Corp Homes has been acquired for a value of Rs 21 crore, and property consultant Anarock facilitated the contract. The project is located in neighbouring Manyata Tech Park. The project has a gross development value (GDV) potential of about Rs 1,200 crore and a saleable area of about 1.3 million sq ft. The project launch is likely in the next 6-12 months. Macrotech said Bengaluru would be the third housing market where the firm's residential developments will be open for the clients, thereby covering almost two-thirds of the housing market of the top seven Indian cities. This follows the firm's successful expansion in Pune, where it now has two functioning projects and several more to be established in FY23. On the back of strong underlying housing demand and consolidation in the industry, the firm hopes to grow its pre-sales by over 20% compound annual growth rate (CAGR) in the medium term, Macrotech said. The foray into the Bengaluru market will be one of the drivers of sustainable, and low-risk growth. The firm has recruited Rajendra Joshi as CEO for the Bengaluru market, Macrotech said. During the current fiscal year, Macrotech Developers is targeting a 27% increase in its sales bookings at Rs 11,500 crore on better demand prospects and a robust pipeline of new launches. Its sales bookings stood at Rs 9,000 crore in the previous financial year (FY). Image Source Also read: Macrotech Developers redeems offshore bonds worth $170 mn

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..