Macrotech Developers Ltd

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NSEBSE

1110.15-25.30 (-2.23%)

03:53 PM,23rd Feb 2024

1108.90-24.15 (-2.13%)

04:01 PM,23rd Feb 2024

BSE : 543287

NSE : LODHA

Sector : Infrastructure

ISIN Code : INE670K01029

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Last Updated: Feb 23 2024 | 04:01 PM IST

Market Cap (₹ Cr)

107075

Turnover (₹ Cr)

9.77

Volume (Shares)

879789

Face Value

10

52-WK High

1225.95

52-WK High Date

15 Jan 2024

52-WK Low

355.50

52-WK Low Date

24 Feb 2023

All Time High

1225.95

All Time High Date

15 Jan 2024

All Time Low

211.30

All Time Low Date

19 Apr 2021

Macrotech Developers Ltd

Macrotech Developers Limited (Formerly known Lodha Developers Limited) was incorporated on September 25th 1995. Lodha Group is among the largest real estate developers in India and has been involved in the real estate business since 1980s. Being as an Indian multinational real estate company headquartered in Mumbai India the Company developed residential & commercial properties in Mumbai Thane Hyderabad Pune and London.The Company commenced operations in Mumbai developing affordable housing projects in the suburbs of Mumbai and later diversified into other segments and regions in the MMR and Pune. Some of the notable projects include Lodha Altamount The World Towers Lodha Bellissimo Trump Tower Mumbai and Lodha Park. Moreover the Company is presently credited for developing Palava an integrated smart city near Mumbai. The Company commenced operations in Mumbai developing affordable housing projects in the suburbs of Mumbai and later diversified into other segments and regions in the MMR and Pune. Some of the notable projects include Lodha Altamount The World Towers Lodha Bellissimo Trump Tower Mumbai and Lodha Park. Moreover the Company is presently credited for developing Palava an integrated smart city near Mumbai. The Company also develop commercial real estate as part of mixed-use developments in and around our core residential projects to bring vibrancy to our residential developments. The Company created several brands including Lodha CASA by Lodha and Crown - Lodha Quality Homes for its affordable and mid-income housing projects the Lodha and Lodha Luxury brands for premium and luxury housing projects and the iThink Lodha Excelus Lodha Supremus and Lodha Signet brands for office. The Company have over 90 completed projects comprising a staggering 80 million square feet of developable area of which nearly 60 million square feet is in affordable and mid income housing. Currently the Company is engaged in developing more than 50 ongoing and planned projects across 75 million square feet of area and recognized for quality focus on details and elegant craftsmanship.To bring new ideas the Company collaborated with globally renowned names from Armani/Casa Jade Jagger Buro Happold Pei Cobb Freed & Partners to reimagining personalised service in luxury with Saint Amand. Few of the world's finest developments include the iconic The World Towers which have transformed the skyline of Mumbai Lodha Altamount - one of the most exclusive addresses and Palava - India's No.1 Smart City. The Company's large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai Dombivali Region) Upper Thane (Thane outskirts) Amara (Thane) Lodha Sterling (Thane) Lodha Luxuria (Thane) Crown Thane (Thane) Bel Air (Jogeshwari) Lodha Belmondo (Pune) Lodha Splendora (Thane) and Casa Maxima (Mira Road). The large townships are located at Palava (Navi Mumbai Dombivali Region) and Upper Thane (Thane outskirts).The premium and luxury housing projects include Lodha Park (Worli) Lodha World Towers (Lower Parel) Lodha Venezia (Parel) and New Cuffe Parade (Wadala). In addition the Group have a few projects under the Lodha Luxury brand which comprises small-scale high-value developments such as Lodha Altamount (Altamount Road) Lodha Seamont (Walkeshwar) and Lodha Maison (Worli).As a part of industrial & logistics park portfolio the Lodha Group are developing a logistics and industrial park spread over 800 acres of land near Palava which is strategically located near the Jawaharlal Nehru Port the proposed international airport in Navi Mumbai and the industrial hub of Taloja. The Company seeks to utilize more of land parcel in Palava & Upper Thane and take it up to 3500 acres over a period. The Company have monetized nearly 165 acres of land in the Palava Logistics & Industrial Park (PLIP) either through JVs with reputed investors such as Morgan Stanley or through outright sales to some of the marquee global players like FM Logistics- a French 3PL firm. Thus so far the Company already monetized more than 255 acres of the industrial park segment through JV or outright sale.In September 2007 the Deutsche Bank made an investment of Rs 1640 crore (US$218 million) by subscribing to the compulsorily convertible debentures (CCDs) of Lodha's subsidiary Cowtown Land Development Limited.In May of the year 2010 Macrotech Developers emerged the highest bidder to acquire a 22.5-acre plot in Wadala Mumbai for Rs 4053 crore (US$538 million) from Mumbai Metropolitan Region Development Authority (MMRDA).In December 2012 the Company acquired Washington House a residential building owned by the US consulate on Altamont Road for Rs 341.82 crore (US$45 million) which was developed into Lodha Altamount. Further the Company purchased a 17 acres land in Mumbai's prime location from DLF for about Rs 2700 crore (US$359 million) nearly four times higher than the price at which DLF had bought the land in 2005.In September 2013 the Group partnered with Donald Trump for development of Trump Tower Mumbai an 800-ft-tall 77-storey residential tower in Lower Parel Mumbai. and with a number of celebrities to be brand ambassadors including Aishwarya Rai Amitabh BachchanAkshay Kumar and Twinkle Khanna. In the year of May 2016 it received an investment of Rs 425 crore from Piramal Fund Management for one of Company's project. In 2018 the company bagged CNBC Awaaz Real Estate Award for the project Lodha Altamount by CNBC.In November 2013 Macrotech Developers Group brought Macdonald House London a seven-storey building in central London from the Government of Canada for Rs 3120 crore (US$414 million) thru which the company acquired 87 acres of land in Thane from Clariant Chemicals India for Rs 1102.5 crore (US$146 million).The Board of Directors of the Company at its meeting held on 27 March 2019 have approved a Scheme of Arrangement u/s 230-232 of the Companies Act 2013 between the Company and NCP Commercials Pvt. Ltd. (Resulting Company) and their respective shareholders and creditors for demerger of Project `Lodha Excelus New Cuffe Parade' (Demerged Undertaking) and its associated assets and liabilities and transfer and vesting thereof to and in the Resulting Company as a `going concern'. The National Company Law Tribunal Mumbai Bench (NCLT) had approved the above scheme on 01st October 2019. Accordingly all asset and associated liabilities was transferred from the Company to NCP Commercial Private Limited at its carrying value. Upon demerger of the project the Company sold off its equity shares in NCP Commercial Private Limited to an unrelated buyer. In terms of the Shareholders Agreement dated 25th March 2020 (Effective Date) in view of changes in the management rights of the Company over relevant activities in Lodha Developers UK Limited (LDUK) and the Company's agreement to sell the legal and beneficial interest representing 24% of the entire issued and paid up ordinary share capital of LDUK at par to its fellow subsidiary within 120 days from the Effective Date LDUK (including its subsidiaries) ceased to be a subsidiary of the Company and has become a Joint Venture with effect from March 25 2020. Tata Power Company Limited an Indian electric utility company based in Mumbai entered into a partnership agreement with Macrotech Developers for setting up EV charging stations in housing societies and offices in September 2021.During the financial year 2020-21 the Company completed an Initial Public Offering (IPO) comprising a fresh issue of 51440328 equity shares having a face value of Rs. 10 which got listed on BSE Limited and National Stock Exchange of India Limited with effect from April 19 2021.During year 2020-21 the Schemes of Arrangement were approved by the National Company Law Tribunal (NCLT) for Demerger of `One Lodha Place' into One Place Commercials Private Limited effective September 25 2020 and amalgamation of Copious Developers and Farms Private Limited and Ramshyam Infracon Private Limited effective June 18 2021. Withdrawal application for demerger of esidential towers from the Belmondo and Splendora projects into two wholly owned subsidiaries viz Luxuria Complex Private Limited and Renovar Green Consultants Private Limited respectively was approved by NCLT Mumbai Bench vide Order dated December 18 2020. During the financial year 2021-22 Company launched 13 new projects or subsequent phases of existing projects with total salable areaof ~5.6 million square feet which included Codename Premier at Palava Lodha Woods at Kandivali Casa Supremo at Mira Road Lodha Bellagio at Powai in MMR and Lodha Bella Vita in Pune etc. In FY22 it introduced 11 new projects located largely in micro-markets of MMR and Pune currently underserved by them having 8.8 million square feet of salable area under capital light JDA route of which 4 projects having salable area of 2.0 million square feet were launched in the micro-markets of Western Suburbs Eastern Suburbs and Pune.As on March 31 2022 the Company had 29 consolidating subsidiaries of which 18 subsidiaries were considered as joint ventures and 2 associates including 1 associate was considered as a subsidiary. Digirealty Technologies Private Limited Bellissimo Digital Infrastructure Development Management Private Limited Thane Commercial Tower A Management Private Limited Bellissimo Digital Infrastructure Investment Management Private Limited Palava Induslogic 4 Private Limited and 1GS Quarters Holdings Limited became subsidiaries of the Company during FY22. Copious Developers and Farms Private Limited Ramshyam Infracon Private Limited and Palava Dwellers Private Limited ceased to be subsidiaries of the Company during FY22. Apart from these Anantnath Constructions and Farms Private Limited Sitaldas Estate Private Limited MMR Social Housing Private Limited Bellissimo Estate Private Limited Renovar Green Consultants Private Limited Kora Constructions Private Limited Luxuria Complex Private Limited Odeon Theatres and Properties Private Limited and Palava Industrial and Logistics Park Private Limited ceased to be subsidiaries of the Company on account of mergers in April 2022.During the financial year 2022-23 the Company launched 12 new projects and subsequent phases of existing projects. Some of the key launches during the year included Lodha Malabar Lodha Bellevue Lodha Divino Ascenza Crown Kolshet Villa Royale Palava in MMR and Lodha Giardino & Lodha Panache in Pune etc.During FY' 23 Five wholly owned subsidiaries of the Company viz Bellissimo Constructions and Developers Private Limited Homescapes Constructions Private Limited Primebuild Developers and Farms Private Limited Palava Institute of Advanced Skill Training Private Limited and Center for Urban Innovation Private Limited merged with the Company with effect from May 20 2023.Bellissimo In city FC Mumbai 1 Private Limited and Bellissimo In city FC NCR 1 Private Limited were incorporated during FY 2023. Anantnath Constructions and Farms Private Limited Sitaldas Estate Private Limited MMR Social Housing Private Limited Bellissimo Estate Private Limited Renovar Green Consultants Private Limited Kora Constructions Private Limited Luxuria Complex Private Limited Odeon Theatres and Properties Private Limited and Palava Industrial and Logistics Park Private Limited ceased to be subsidiaries of the Company on account of mergers during FY23.

Macrotech Developers Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

107075

EPS - TTM (₹) [S]

15.92

P/E Ratio (X) [S]

8.64

Face Value (₹) 10
Latest Dividend (%)10.00
Latest Dividend Date 08 Sep 2023
Dividend Yield (%) 0.09
Book Value Share (₹) [S]128.52
P/B Ratio (₹) [S]8.64
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
ICICI Pru Credit Risk Fund - Direct (IDCW-Q) 91.42 9214 1.26
ICICI Pru Credit Risk Fund (IDCW-Q) 91.42 9214 1.26
ICICI Pru Credit Risk Fund - Direct (G) 91.42 9214 1.26
ICICI Pru Credit Risk Fund (G) 91.42 9214 1.26
Kotak Credit Risk Fund - Direct (G) 37.75 3780 4.34
Kotak Credit Risk Fund (G) 37.75 3780 4.34
Kotak Credit Risk Fund (IDCW-Standard) 37.75 3780 4.34
Kotak Credit Risk Fund - Direct (IDCW-Standard) 37.75 3780 4.34
ICICI Pru Regular Savings Fund (IDCW-M) 22.86 2304 0.67
ICICI Pru Regular Savings Fund - Direct (IDCW-M) 22.86 2304 0.67

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Research Reports

Date BrokerActionPrices(Rs)Report
02-03-2023Sharekhan Buy 806

Stock Strength

Today's Low/High

1099.85

1145.00

Week Low/High

1062.00

1179.00

Month Low/High

1010.25

1207.00

Year Low/High

355.50

1226.00

All time Low/High

210.58

1226.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week3.49%3.44%0.990.78%
1 Month3.51%3.46%3.944.59%
3 Month26.46%26.48%10.7912.17%
6 Month59.99%59.94%11.7814.24%
1 Year175.20%175.52%22.7126.85%
3 Year%%47.0251.03%

Company Info

Company Information

Independent Director : Harita Gupta

Registered Office: 412 Fl 4 17 G VardhamanChamber, Cawasji Patel Rd Horniman Fort,Mumbai,Maharashtra-400001 Ph: 91-022-23024400

Email:investorrelations@lodhagroup.com

URL:http://www.lodhagroup.com