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Macrotech Developers acquires 45-acre land in Gurugram, enters Delhi-NCR

Tuesday, 03 Dec 2024
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Mumbai-based realty firm Macrotech Developers, known for selling properties under Lodha brand, has expanded into the Delhi-NCR market with acquisition of a 45-acre land parcel in Sohna, Gurugram, Haryana, for approx. Rs 110 crore. This land will be developed into an industrial and logistics park.

In addition, Macrotech acquired a 100 percent stake in Janus Logistics and Industrial Parks (JLIPPL) for Rs 48 crore. Incorporated in December 2022, JLIPPL specializes in constructing and developing warehousing and logistics assets. With this acquisition, JLIPPL becomes a wholly-owned subsidiary, aligning with Macrotech's strategy for calibrated growth in annuity income through investments in digital infrastructure comprising industrial, and logistics parks under the Lodha Industrial and Logistics Park (LILP) brand.

The company's September quarter investors’ presentation outlined plans to generate Rs 1,500 crore in annual rental income by FY 2030-31. This goal involves developing rent-yielding assets, such as offices, malls, high-street retail spaces, and industrial parks. In September, 2024 it acquired Ivanhoe Warehousing India Inc's stake in digital infrastructure platform entities for Rs 239.56 crore. In November, the company bought out Bain Capital's interest in three industrial and logistics park entities for Rs 307 crore. 

Macrotech Developers is leveraging strategic acquisitions and investments to enhance its annuity revenue streams and diversify its asset base.

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