by THO
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Breaking silence on the Lodha versus Lodha matter, Macrotech Developers managing director Abhishek Lodha Lodha has told Mint that “this is a simple trademark issue and that there is no personal dispute.”
Macrotech Developers recently filed a suit in the Bombay High Court against the House of Abhinandan Lodha (HoABL), formed by younger brother Abhinandan Lodha, for infringement of its trademarks. The suit sought appropriate injunctions, reliefs, and damages.
To a question why he resorted to a legal route for resolution, he told Mint, “There are many, many instances where the Lodha brand has been used to mislead customers. Otherwise, why would I do this? Anything and everything we could do as a family to resolve the issue that effort has been made. I love him as my brother, and this is very painful. But this is a publicly listed company backed by several global, blue-chip investors and one of India’s largest charitable entities as shareholders. Trademarks are very valuable. This is a simple trademark issue; there is no personal dispute.”
Also Read: Lodha versus Lodha: A ₹5000-crore legal battle and what’s at stake
Speaking for the first time since the lawsuit was filed, Abhishek Lodha also spoke in an interview with Mint on the importance of the brand and the legal recourse that could not be avoided.
“In a complex sector like real estate, the brand is the ultimate identifier. The consumer gets comfort from the brand he buys from, and it influences his buying decision in a big way. So, for customers whom they deal with and the credibility of a developer’s brand plays a very crucial role. The brand is a summation of the quality, financial capability, integrity and everything that a company stands for,” he said.
Asked why the ‘Lodha’ brand name is so important for Macrotech Developers, he said, “We will protect the brand with all our capabilities because it is necessary that the consumer is not misled. For us, the consumers need to be aware that when they perceive they are dealing with Lodha, they are actually dealing with the Lodha brand.”
Also Read: Lodha vs Lodha: Macrotech’s Abhishek Lodha takes younger brother’s company to court over trademark
‘Have always wished my brother well’
“When the family separation happened, there was ₹20,000 crore of liabilities of the company, and I took on that responsibility. Abhinandan is my brother, and I have always wished him well. I wanted him to have a fresh start in life and have no problem with him doing real estate. But our brand is not available for use or misuse by anyone else,” he told Mint.
Macrotech Developers is listed on stock exchanges and is one of the leading real estate firms in the country. At the same time, HoABL is involved in plotted developments across various cities, including Ayodhya. Abhinandan Lodha quit Macrotech Developers (the erstwhile Lodha Developers) in 2015 and later started his own business.
On January 25, Macrotech Developers reported an 88 per cent increase in consolidated net profit to ₹944.4 crore for the quarter that ended December, fueled by higher income and strong housing demand. Net profit stood at ₹503.3 crore in the year-ago period. Total income rose to ₹4,146.6 crore in the third quarter of this fiscal from ₹2,958.7 crore in the preceding year’s corresponding period.
On the operational front, Macrotech achieved ₹12,820 crore of pre-sales until December of this fiscal year, showcasing a 25 per cent growth. The company is confident of achieving this fiscal year’s sales bookings target of ₹17,500 crore.
Macrotech Developers has delivered around 100 million square feet of real estate and is currently developing more than 110 million square feet under its ongoing and planned portfolio.
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