Abhishek Lodha and Family Allocate 18.09% Stake in Macrotech Developers to Lodha Philanthropy Foundation
Mumbai—In a significant philanthropic move, real estate tycoon Abhishek Lodha and his family announced on Friday the transfer of an 18.09% stake in Macrotech Developers Ltd to their charitable arm, the Lodha Philanthropy Foundation (LPF). The transfer, valued at over Rs 21,000 crore based on Friday’s closing share price of Rs 1,175.75, reflects a commitment to social and national causes, inspired by the Tata family’s legacy.
Macrotech Developers, a leading name in India’s real estate market under the Lodha brand, currently boasts a market capitalization exceeding Rs 1.17 lakh crore. The promoters hold a 72.11% stake in the company, with the latest transfer being an “off-market inter-se transfer among the promoter and promoter group,” ensuring that the total shareholding remains unchanged.
“About 100 years ago, the Tata family gave a major part of their shareholding in their enterprise to the Tata Trusts. The huge impact of this gift on India and the good work by the Tata Trusts has been a major inspiration for me,” Abhishek Lodha, Managing Director and CEO of Macrotech Developers, remarked when outlining the family’s motivation for the transfer.
The shares transferred to LPF will generate dividend income, which will be directed toward funding social programs in education, women’s empowerment, and sustainable urban development. The foundation plans to establish an advisory board in January to oversee these initiatives.
Established in 2013, the Lodha Philanthropy Foundation has supported numerous initiatives, including ‘Lodha Unnati,’ aimed at increasing female participation in the workforce, and the Institute of Applied Mathematics (IAM), which promotes high-quality research. The Lodha Genius Programme also provides scholarships, mentoring, and learning opportunities to meritorious students across India.
The foundation’s commitment to sustainability is evident in its partnership with the Rocky Mountain Institute (RMI), USA, to advance net-zero goals in real estate and infrastructure. This philanthropic move by the Lodha family is poised to make a lasting impact on society, reinforcing their dedication to driving positive change in India.
Macrotech Developers, formerly Lodha Developers, has delivered over 100 million square feet of real estate and continues to expand with more than 110 million square feet in its ongoing and planned projects.
