Latest news with #LodhaDevelopers
Time of India
4 days ago
- Business
- Time of India
Lodha Developers acquires 945 apartments in Mumbai's Mankhurd for Rs 567 cr
Lodha Developers has acquired over 945 apartments as permanent transit camp (PTC) units in Mumbai's eastern suburb of Mankhurd from another real estate developer in a transaction valued at Rs 567 crore. This is the largest SRA-linked asset transfers recorded so far and reinforces the growing trend of offsite PTC fulfilment in Mumbai's real estate market. The transaction involving bulk purchase of apartments includes a total built-up area of 3.39 lakh sq ft and is a compliance-driven move. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The company has paid stamp duty of Rs 34.02 crore for the registration of the bulk transaction that took place on June 3, showed documents accessed through realty data analytics platform CRE Matrix. A Permanent Transit Camp refers to ready-built housing units that developers construct or acquire to temporarily or permanently house project-affected people--usually slum dwellers or tenants--under SRA schemes or redevelopment projects. Live Events One of the company's ongoing projects involving slum rehabilitation in Vikhroli suburb mandates the developer to hand over more than 50,000 sq meter of constructed area to the Slum Rehabilitation Authority for PTC purposes. 'This is a classic example of how larger developers are using asset-backed planning to meet regulatory obligations while optimizing timelines. For the developer, this is usually both a strategic and a tactical purchase,' said a senior real estate consultant. With limited land availability in Vikhroli and long gestation periods associated with in situ construction, Lodha is looking to fulfil this obligation through an offsite transfer of built-up area. ET's email query to Lodha Developers remained unanswered till the time of going to press. These residential units, once completed, will be handed over to the SRA, allowing Lodha to meet its rehabilitation commitment for the Vikhroli project. The seller reportedly holds over 83,000 sq meter free sale component in Mankhurd, making the location suitable for such a transaction under SRA norms. With this deal, the seller has monetized part of its free sale inventory, while Lodha will achieve quicker compliance for its Vikhroli project without additional construction delays. The transaction also indicates the growing relevance of eastern suburbs like Mankhurd in Mumbai's redevelopment story. Transactions like these are expected to rise as Mumbai's redevelopment momentum accelerates, driven by the twin pressures of tighter delivery timelines and increasingly stringent compliance frameworks. With limited availability of vacant land in core city areas and growing regulatory scrutiny, developers are opting for quicker, asset-backed solutions like offsite PTC fulfilment. This trend is likely to continue as large-scale urban renewal projects gain pace across the city's eastern and central suburbs.
Business Standard
5 days ago
- Business
- Business Standard
Macrotech Developers gains after rebranding as Lodha Developers
Macrotech Developers added 1.14% to Rs 1,483.60 after the firm said it has officially changed its name to Lodha Developers, effective 16 June 2025, following approval from the Ministry of Corporate Affairs (MCA). Macrotech Developers (Lodha Group) is among the largest real estate developers in India that has delivered with scale since the 1980s. The core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing. The company reported 38.49% jump in consolidated net profit to Rs 921.7 crore in Q4 FY25 as against Rs 665.5 crore posted in Q4 FY24. Revenue from operations rose 5.12% YoY to Rs 4,224.3 crore in the quarter ended 31 March 2025.
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Business Standard
6 days ago
- Business
- Business Standard
Macrotech Developers rebrands as Lodha Developers after dispute settlement
Abhishek Lodha's Macrotech Developers has changed its name to 'Lodha Developers', according to the company's stock exchange filing on Monday (16 June). 'The Registrar of Companies, Ministry of Corporate Affairs (MCA), has approved the change in name of the Company from 'Macrotech Developers Limited' to 'Lodha Developers Limited' with effect from 16 June 2025,' the Mumbai-based developer noted. The move comes after the culmination of a recent trademark dispute between the company and House of Abhinandan Lodha (HoABL), a firm led by Abhishek's younger brother, Abhinandan Lodha. In January 2025, Lodha Developers (formerly known as Macrotech Developers) filed a lawsuit in the Bombay High Court against HoABL over the use of the 'Lodha' name, seeking Rs 5,000 crore in damages. However, the court suggested that both parties resolve the matter through mediation. However, on 2 April, Macrotech accused certain entities of HoABL of using 'purported' board resolutions of Macrotech for the use of the 'Lodha' trademark and filing the same with government authorities. HoABL then denied the accusations by Macrotech and filed a police complaint against unknown persons to investigate the alleged offences. HoABL filed the complaint on 3 April 2025 and wrote a letter to the police on 4 April 2025. However, on 14 April, both companies confirmed that all disputes had been amicably resolved through mediation and under the guidance of Abhishek and Abhinandan's parents. In May, Abhinandan Lodha's Lodha Ventures also rebranded itself as Abhinandan Ventures. The company gave up its registered trademark 'Lodha Ventures'. According to the consent terms signed by the Lodha brothers to resolve the trademark dispute, Abhinandan Lodha agrees and acknowledges that he does not have any right whatsoever to, and shall not, either separately or in combination with any other words, use or adopt any trademark, tradename, logo, domain name, project name, corporate name or email address, or use in any other manner, the word(s) 'Lodha' or 'Lodha Group' or any other term or word which is identical with or deceptively similar to any trademark, tradename, logo, domain name, project name, corporate name or email address used by Lodha Developers.
Mint
03-06-2025
- Automotive
- Mint
Tesla leases space in Mumbai's Lodha Logistics Park, expanding India footprint
Bengaluru: American electric carmaker Tesla Inc. has leased 24,565 sq. ft. of space at Lodha Logistics Park in Mumbai's Kurla West. The transaction adds to the Elon Musk-promoted company's steady expansion of its real estate footprint in India—through offices, showrooms, and now warehousing—as it inches towards an expected market entry. The five-year lease was signed between Tesla India Motor & Energy Pvt. Ltd and Lodha Developers, and registered on 16 May. Tesla will pay a starting monthly rent of ₹ 37.53 lakh, totalling over ₹ 24 crore over the lease term, according to documents accessed by CRE Matrix, a real estate data analytics firm. A person familiar with the development said the leased space may be used as a service centre for Tesla's electric vehicles. The person added that the company may expand within the facility in future. The deal marks Tesla's third lease in Mumbai this year. In addition to a 30-seater office in a co-working centre in Kurla, it also took up space in the high-profile Maker Maxity complex in Bandra-Kurla Complex (BKC) at a record rate of ₹ 881 per sq. ft. Lodha Logistics Park is a 400,000 sq. ft in-city distribution centre catering to last-mile delivery needs of e-commerce, quick-commerce and cloud kitchen firms. Tesla and Lodha Developers did not respond to Mint's queries. Beyond Mumbai, Tesla leased 5,850 sq. ft. of office space in Pune last year and has recently taken showroom space in Delhi. 'Tesla's India entry is taking shape through a deliberate, multi-city rollout—from its office in Pune to flagship showrooms in BKC and Delhi-NCR, co-working presence in BKC, and now a strategic warehousing facility in Kurla West,' said Abhishek Kiran Gupta, CEO of CRE Matrix. 'This 24,565 sq. ft. lease at ₹ 153 per sq. ft. is more than a real estate transaction—it's a signal of intent. We're witnessing Tesla build a high-impact EV ecosystem across India, anchored by prime commercial and logistics assets.' Still, questions remain about Tesla's manufacturing plans. On Monday, Union minister for heavy industries H.D. Kumaraswamy said the company has not expressed interest in participating in the government's scheme to promote domestic EV manufacturing (SPMEPCI), Mint reported.
