Macrotech acquires 7 land parcels to build Rs 16,600 cr housing projects

Realty firm Macrotech Developers has acquired seven land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru to develop housing projects with an estimated revenue potential of Rs 16,600 crore.

Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, has been acquiring land through outright purchases as well as forming partnerships with landowners for joint development.

In its latest operational update, the company informed that it has added four projects in Pune and Bengaluru, having Rs 5,500 crore of GDV (gross development value).

During the first six months of this 2024-25 fiscal, the company has added projects worth Rs 16,600 crore, which is more than 75 per cent of its full year guidance of Rs 21,000 crore.

The company had acquired three land parcels in the MMR and Pune during the April-June quarter to develop projects with a revenue potential of Rs 11,100 crore.

Out of the total 7 land acquisitions, the company did not provide details