Lodha Group
Lodha Group or Macrotech Developers (formerly known as Lodha Developers) is an Indian multinational real estate company headquartered in Mumbai, India. It was founded in 1980 by Mangal Prabhat Lodha. It has developed residential and commercial properties in Mumbai, Thane, Hyderabad, Pune and London. Some of its notable projects include Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. The company is also credited for developing Palava, an integrated smart city near Mumbai. The company was listed as Macrotech Developers on April 19, 2021. History. Lodha Group was established by 1980 by Mangal Lodha , a businessman and politician, who serves as Member of Legislative Assembly. In September 2007, the Deutsche Bank made an investment of by subscribing to the compulsorily convertible debentures (CCDs) of Lodha's subsidiary, Cowtown Land Development Limited. In May 2010, the company emerged the highest bidder to acquire a 22.5-acre plot in Wadala, Mumbai, for from Mumbai Metropolitan Region Development Authority (MMRDA). In December 2012, Lodha Group acquired Washington House, a residential building owned by the US consulate on Altamont Road, for . Which was developed into Lodha Altamount. It purchased a 17 acres land in Mumbai's prime location  from DLF for about , nearly four times higher than the price at which DLF had bought the land in 2005. In November 2013, Lodha Group brought Macdonald House, London, a seven-storey building in central London from the Government of Canada for . The company acquired 87 acres of land in Thane from Clariant Chemicals India for . It received an investment of from Piramal Fund Management for one of the company's project in May 2016. In September 2019, it was announced that the company was about to sell 7 lakh sq ft office space in Mumbai, India to Singapore-based  Varde Partners for about . Earlier, Lodha sold its 29-storey office building in Mumbai's Wadala for to Tata Group's retail arm Trent. In Q3 of 2020, India Ratings and Research (Ind-Ra) and Moody's upgraded the rating for Lodha to stable. Afer getting listed on stock exchange, Moody's Investors Service changed the outlook on the ratings to positive from stable in April 2021. In September 2021, Tata Power entered into a partnership agreement with the group for setting up EV charging stations in housing societies and offices. Partnership. In September 2013, Lodha Group partnered with Donald  Trump for the development of Trump Tower Mumbai, an 800-ft-tall, 77-storey residential tower at Lower Parel, Mumbai. Lodha Group has partnered with a number of celebrities to be brand ambassadors, including Aishwarya Rai, Amitabh Bachchan, Akshay Kumar and Twinkle Khanna. Initial public offering. The company has launched its initial public offering on April 7, 2021. It got listed on National Stock Exchange of India and Bombay Stock Exchange on April 19, 2021.