Macrotech Developers to develop more than 64 acres in Bengaluru, eyes GDV of ₹8600 crore

Macrotech Developers to develop more than 64 acres in Bengaluru, eyes GDV of ₹8600 crore


Mumbai-based listed real estate developer Macrotech Developers plans to develop housing projects on 64.4 acres in Bengaluru, with a potential gross development value of 8600 crore.

Mumbai-based listed real estate developer Macrotech Developers plans to develop housing projects on 64.4 acres in Bengaluru, with a potential gross development value of <span class=
Mumbai-based listed real estate developer Macrotech Developers plans to develop housing projects on 64.4 acres in Bengaluru, with a potential gross development value of 8600 crore. (Picture for representational purposes only)(Pixabay)

Macrotech Developers has two ongoing and three upcoming projects in Bengaluru with a combined sales potential of 8600 crore, as per data shared by the company.

The developments include Lodha Mirabelle in the north in Manyata Business Park (10 acres for 1,200 crore GDV) and Devanahalli (17 acres for 2400 crore GDV). Towards south Bengaluru, the company has projects like Lodha Azur on Bannerghatta Road (9.2 acres for 800 crore), Hosa Road (9.2 acres with 1,400 crore GDV) and Sarjapur (19 acres for 2800 crore GDV), according to data shared by the company.

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“These are expected to provide an opportunity for significant pre-sales growth in Bengaluru from the next financial year onwards. With this, we have added eight new projects in the last nine months of FY25, for over 19,500 crore of GDV across MMR, Bengaluru and Pune,” the company said in its Q3 FY25 quarterly update.

Macrotech Developers has been acquiring land through outright purchase and forming partnerships with landowners for joint development. As part of its expansion plans, the company recently acquired a 19-acre land parcel for the development of a housing project worth 2,800 crore.

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Bengaluru real estate market plans

Abhishek Lodha, Managing Director and CEO of listed real estate firm Macrotech Developers, also known as Lodha Group, in October 2024 said that the company had concluded its pilot phase in Bengaluru and is targeting a market share of 15% in the IT city by the end of the decade.

The company’s pilot phase in “Bengaluru has been concluded successfully. As you are aware, when we entered Bengaluru in mid-2021, we had mentioned that we would be in the pilot phase for 2-3 years, during which we will focus on building a strong local operating team, understanding local operating nuances and making sure that we can showcase our delivery to consumers,” Lodha had said during the Q2FY25 earnings call.

In its operational update for the December quarter of FY25, the company said it achieved a presale of 4510 crore, up 32% YoY. The customer collections in the quarter stood at 4290 crore, showing a growth of 66% YoY.

“During the quarter, we acquired over 33 acres of land for our Digital Infrastructure (warehousing and industrial) business in the NCR. We also agreed with our JV partner to increase our stake in the rental income (PropCo) from our Digital Infrastructure platform. This is in line with our planned strategy for calibrated growth in our annuity income thus de-risking our development business,” the company had said.



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