Macrotech To Invest Rs 8,000 Cr On Land Acquisition For Expansion

Last fiscal year, we invested Rs 7,000 crore for new business development. To add new projects worth Rs25,000 crore, we will have to invest more than Rs8,000 crore in the current fiscal -- Sushil Kumar Modi, Executive Director- Finance, Macrotech Developers

New Delhi: Realty firm Macrotech Developers Ltd plans to invest more than Rs 8,000 crore this fiscal to acquire land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru for building housing projects as part of its expansion plan.

Macrotech Developers, which sells properties under 'Lodha brand', is one of the largest real estate companies in the country.

Macrotech Developers Executive Director- Finance Sushil Kumar Modi, while interacting with reporters, noted that housing demand continues to be strong, especially for big brands having strong track record of executing projects.

To expand business, he said the company has set a target of acquiring multiple land parcels this financial year to develop projects, which can generate a revenue of Rs 25,000 crore. Under the new business development, Macrotech Developers purchases land outright and also partners with landowners. In 2024-25 fiscal, the company acquired 10 land parcels across MMR, Pune and Bengaluru. These land parcels will be used to develop projects with an estimated revenue potential of Rs 23,700 crore. "Last fiscal year, we invested Rs 7,000 crore for new business development. To add new projects worth Rs 25,000 crore, we will have to invest more than Rs 8,000 crore in the current fiscal," Modi said.