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Lodha Developers Ltd has been directed to deposit Rs 520.80 crore as security in relation to an ongoing case in the Supreme Court against V Hotels Ltd, which the company acquired last year through an insolvency process. In a regulatory filing on Wednesday, Lodha Developers Ltd informed that this matter is related to proceedings initiated by the Enforcement Directorate (ED) against the erstwhile promoter of V Hotels Ltd (VHL). This was in relation to a transaction of Rs 520.80 crore, allegedly routed through VHL before the start of the insolvency process. Lodha expects that the matter will be heard expeditiously in the apex court and the deposit will be released. In April last year, Lodha Developers Ltd announced the takeover of VHL through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016. In the filing, the company said it acquired VHL in 2024 and paid the consideration to various creditors based on the approved resolution plan. The .
Realty firm Macrotech Developers Ltd plans to launch housing projects worth Rs 19,000 crore across Mumbai Metropolitan Region, Pune and Bengaluru during this fiscal as it seeks to expand business amid strong demand for residential properties. Mumbai-based Macrotech Developers, which sells properties under 'Lodha brand', is one of the leading real estate firms in the country. In an interview with PTI, Macrotech Developers Executive Director- Finance Sushil Kumar Modi said the company remains bullish about the growth prospects in Indian real estate sector and will keep investing to expand business. "In the last fiscal, we launched around 10 million square feet area with a Gross Development Value (GDV) of around Rs 14,000 crore spread across 24 projects," he said. Modi said the company would launch 17 housing projects in the current fiscal covering 13 million square feet area and an estimated sales booking potential of Rs 19,000 crore. These projects will be launched across MMR, Pune
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. In an interview with PTI, Macrotech Developers Executive Director- Finance Sushil Kumar Modi 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
Realty firm Macrotech Developers' net debt fell by 7 per cent in the January-March quarter to nearly Rs 4,000 crore on strong housing sales and fund collections from customers. Macrotech Developers, which sells properties under the Lodha brand, is one of the leading real estate developers in the country. In its latest operational update, Macrotech Developers noted that the company's net debt reduced by Rs 320 crore during the January-March quarter to Rs 3,990 crore. The company's net debt stood at little over Rs 4,300 crore at the end of December 31, 2024. The reduction has been achieved despite significant investment in acquiring land parcels for future development. The company buys land outright and also partners with landowners to develop housing projects. Macrotech Developers' internal cash flow remained strong last fiscal year due to record sales bookings and healthy fund collections from customers. Macrotech Developers' sale bookings grew 21 per cent last financial year to
The Bombay High Court on Tuesday formally took on record the final mediation report along with the consent terms entered into by real estate businessmen Abhishek Lodha and Abhinandan Lodha, marking the end of a trademark dispute between the brothers. The court appreciated the role played by the mediator, retired Supreme Court judge Justice R V Raveendran, in the process. "I must at this stage note the painstaking efforts of the Learned Mediator (Justice RV Raveendran), which has resulted in these consent terms being arrived at and also my deep appreciation for all the efforts taken by the Learned Mediator to bring about an amicable resolution of disputes between respondent nos 5 (Abhinandan Lodha ) and 16 (Abhishek Lodha)," said justice Arif Doctor. The matter is now scheduled for further compliance hearing on Wednesday. In January, Abhishek Lodha-led Macrotech Developers filed a suit in the Bombay High Court against the House of Abhinandan Lodha (HoABL) formed by his younger broth
Real estate firm Macrotech Developers acquired 10 land parcels last fiscal to develop housing projects with a total sales value of nearly Rs 24,000 crore, as it seeks to expand business amid strong demand. Listed entity Macrotech Developers, which sells properties under Lodha brand, had given a guidance for 2024-25 that it would be acquiring land parcels having a revenue potential of Rs 21,000 crore. To expand its business, the company acquires land parcels outright as well as forms partnerships with landowners to develop housing projects. In its latest operational update, Macrotech Developers said it has acquired two new land parcels in Pune with GDV (gross development value) of Rs 4,300 crore. During the full 2024-25 fiscal, the company acquired 10 land parcels with around Rs 23,700 crore of GDV across MMR (Mumbai Metropolitan Region), Bengaluru and Pune, surpassing its full year guidance of Rs 21,000 crore. Out of the total 10 land deals, the company did not mention the numbe