Promoters of Macrotech Developers repay Rs 1,596 cr debt to company

01 Jul 2021 CW Team

Macrotech Developers, also known as Lodha Group, has received Rs 1,596 crore which the company's promoters owed as debt.

On April 29, Rs 400 crore of this debt was repaid, including interest, while the remaining Rs 1,196 crore was repaid on Wednesday.

In a regulatory filing, the developer stated that the repayment, along with their IPO fund raise and continued organic free cash flow generation, are assisting the company in its deleveraging plans.

Lodha Group has set a goal of reducing net debt to Rs 10,000 crore by the end of the current financial year, and the developer is on track to meet that goal. The company's net debt was Rs 16,000 crore at the end of March, and it aims to be debt-free in three years.

To offer continuous deleveraging and parallel development, the firm intends to expand its capital-light growth strategy around low and mid-income housing, as well as digital infrastructure such as -- warehousing, data centres, and industrial parks.

The promoters of the company repaid the debt by raising funds through a long-term instrument with a maturity of more than three years and no repayment obligation prior to that.

The promoters have also informed the company that they will be able to deleverage in accordance with the minimum public shareholding obligations of reducing their holding to a maximum of 75% within three years of their initial public offering.

A portion of the promoter's shares in the company have been encumbered, but not pledged, as a result of the previously mentioned funding.

Image Source

Also read: Macrotech to double investment in construction in FY22

Also read: Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..