 "Seema Singh, promoter of Alkem Lab, buys penthouse in Worli for Rs 185 cr")
Seema Singh, one of the promoters of Alkem Laboratories, has purchased a luxury penthouse at Lodha Sea Face, Worli, Mumbai, from Macrotech Developers. The apartment, located on the 30th floor of the A-Wing, spans 14,866 sq. ft. and was bought for Rs 185 crore, according to documents accessed by IndexTap.com.
The transaction includes nine car parkings and a stamp duty of Rs 9.25 crore. The agreement was registered on December 11, 2024, with a price per square foot of Rs 1,24,446.
Macrotech Developers Ltd, which sells properties under the Lodha brand, is one of the leading real estate developers in the country. It has a presence in Mumbai Metropolitan Region (MMR), Pune and Bengaluru housing markets.
The luxurious penthouse measures 14,866 sq. ft.
In June 2024, Singh sold a 0.3% stake in the pharma company for Rs 177 crore through an open market transaction. Seema Singh offloaded 3.58 lakh shares at Rs 4,956 apiece, according to the block deal data on the NSE. As of March, the promoter held 2.46% equity in the company. ICICI Prudential Mutual Fund bought 1.92 lakh shares (0.15%), Morgan Stanley Asia Singapore Pte.Alkem Laboratories is a pharmaceutical company headquartered in Mumbai. It manufactures and sells pharmaceutical generics.
After the COVID-pandemic, Mumbai has witnessed many big-ticket real estate deals.
Macrotech Developers had registered a 20 per cent growth in sales bookings to a record Rs 14,520 crore during 2023-24, against Rs 12,060 crore in the preceding year. The company has set a target of selling properties (mainly apartments) worth Rs 17,500 crore this fiscal year.
Also Read
During the first six months of this fiscal, Macrotech Developers has reported a 21 per cent annual growth in its sales bookings to Rs 8,320 crore from Rs 6,890 crore in the year-ago period.
Macrotech Developers has delivered around 100 million square feet of real estate and is developing more than 110 million square feet under its ongoing and planned portfolio.
Recently, the realty major acquired a 45-acre land parcel at Sohna, Gurugram to develop an industrial and logistics park for around Rs 110 crore, marking its entry into the Delhi-NCR market.
On November 29, Macrotech Developers had informed the stock exchanges that it has acquired 100 per cent stake in Janus Logistics and Industrial Parks Pvt Ltd (JLIPPL) for Rs 48 crore.
JLIPPL, incorporated on December 20, 2022, is in the business of construction and development of warehousing and logistics assets.