Macrotech Developers gains on acquiring Bain Capital stake in logistics parks for Rs 307 cr

Macrotech Developers gained 1% to Rs 1228.95 after the company said it acquired Bain Capital's stake in three industrial and logistics park entities for Rs 307 crore as part of a strategy to enhance rental income.

Macrotech Developers, a leading real estate firm, sells properties under Lodha brand.

The company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the Digital Infrastructure Platform entities (viz. Bellissimo Digital Infrastructure Development Management Private Limited, Palava Induslogic 4 Private Limited and Bellissimo In City FC Mumbai 1 Private Limited), in entirety at a consideration of Rs 307 crore"

Bain Capital had a 30% stake in Bellissimo Digital Infrastructure Development Management and a 33.33% stake each in the other two entities.

This is in line with the company's objective of gradually growing its annuity income. "This is in pursuance of our planned strategy for calibrated growth in our annuity income through digital infrastructure viz. industrial and logistics under the LILP (Lodha Industrial and Logistics Park) brand," the company said.

In September 2024, Macrotech Developers acquired the interest of Ivanhoe Warehousing India Inc (Ivanhoe) in the digital infrastructure platform entities.

Macrotech Developers (Lodha Group) is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.

Its consolidated net profit surged 109.46% to Rs 422.9 crore on 50.07% jump in revenue from operations to Rs 2,625.7 crore in Q2 FY25 over Q2 FY24.

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