Macrotech Developers IPO - ICICI Direct’s Investment Rationale
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ICICI Direct Report
Macrotech Developers Ltd., incorporated as Lodha Developers Pvt Ltd. on September 25, 1995, is one of the largest real estate developers in India by residential sales value for FY14-20.
Its core business is residential real estate development with a focus on affordable and mid-income housing. Currently, it has residential projects in the Mumbai Metropolitan Region and Pune.
In 2019, the company had forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte Ltd.
The company also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.
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