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Macrotech Developers Ltd, a prominent real estate firm operating under the 'Lodha' brand, is poised to enter the Delhi-NCR residential market, aiming to acquire land for group housing projects. The Mumbai-based company, which already has a substantial presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, is exploring opportunities in Delhi-NCR to capitalise on the region's growth potential. Executive Director-Finance Sushil Kumar Modi stated that Macrotech plans to initiate pilot projects to better understand the market dynamics before scaling up operations. The firm has been actively acquiring land parcels, having already invested INR 7,000 crore in the last fiscal and targeting a further investment of over INR 8,000 crore this year.
Macrotech Developers Ltd, operating under the 'Lodha' brand, is planning to expand into the Delhi-NCR residential market as part of its strategic growth initiatives. According to a senior company official, the Mumbai-headquartered firm is actively seeking to acquire a land parcel in the region to establish group housing projects, given the significant growth potential. Advertisement
The company, currently operational in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, is now well-positioned to undertake pilot projects in a new city, said Sushil Kumar Modi, Executive Director-Finance of Macrotech Developers. He indicated that the company is seriously considering the Delhi-NCR market but will proceed cautiously, acknowledging the unique characteristics of the region.
Modi noted that discussions are underway with landowners to secure a land parcel, with the company aiming to finalise at least one acquisition by the end of the current fiscal year. Initially, Macrotech plans to conduct pilot projects to gauge market dynamics before implementing a full-scale expansion strategy.
Furthermore, Modi disclosed that the company is expecting exponential growth in its Pune and Bengaluru markets beginning this fiscal year. Macrotech has already acquired a land parcel in Gurugram to develop an industrial and logistics park in the previous fiscal year, reflecting its commitment to expanding in the Delhi-NCR region.
Delhi-NCR and the MMR are the two largest residential real estate markets in India. Several prominent developers, including Godrej Properties, Sobha, Shapoorji Pallonji, Birla Estates, and Adani Realty, have already established a foothold in the NCR region. Recently, Prestige Group launched its first residential project in Delhi-NCR, while Oberoi Realty acquired land in Gurugram last year. Among local developers, DLF, Signature Global, M3M Group, Ashiana Housing, Gaurs Group, and ATS Group maintain a significant presence.
Macrotech Developers has been aggressively acquiring land to bolster its project pipeline. In the 2024-25 fiscal year, the company secured 10 land parcels to develop residential projects with a projected revenue potential of INR 23,700 crore. Modi stated that Macrotech invested INR 7,000 crore in the last fiscal for new business development and plans to increase its investment to over INR 8,000 crore this year to accommodate new projects worth INR 25,000 crore.
On the operational front, Macrotech has provided guidance for sale bookings worth INR 21,000 crore for the current fiscal, representing a 20 per cent increase over the previous year's figure of INR 17,630 crore. The firm launched housing projects valued at INR 19,000 crore across MMR, Pune, and Bengaluru during this fiscal, up from INR 14,000 crore in the last fiscal.
Financially, Macrotech Developers reported a net profit increase to INR 2,764.3 crore in the 2024-25 fiscal, up from INR 1,549.1 crore in the preceding year. Total income surged to INR 14,169.8 crore last fiscal from INR 10,469.5 crore in the 2023-24 fiscal. The company has delivered approximately 100 million square feet of real estate and is currently working on projects spanning over 110 million square feet across its ongoing and planned portfolio.
The expansion aligns with Macrotech's broader growth trajectory, evidenced by its substantial land acquisitions and robust financial performance in the past fiscal year. With a focus on securing lucrative land parcels and leveraging joint development agreements, the company is well-positioned to tap into the thriving Delhi-NCR market while continuing to capitalise on growth opportunities in other key regions.
Source - PTI
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