Abhishek Lodha, managing director and CEO of Macrotech Developers, also known as Lodha Group, said the company expects to have five or more real estate projects in Bengaluru during the current financial year.
Pilot phase completed in Bengaluru
“...we have concluded our pilot phase successfully in Bengaluru and are now at a stage where the growth phase is starting to take off,” Lodha said during the Q4FY25 investors’ call. “We are expecting to have five or more projects operational in Bengaluru in the course of the current fiscal year.”
Bengaluru will begin to contribute meaningfully to the company’s growth starting this year. With Bengaluru now in the growth phase, “we expect to start the pilot in one more city in FY26, which, of course, will take two to three years before it moves into the growth phase,” Lodha said.
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15% market share in Bengaluru
In 2024, Lodha had said that the company aims to have a market share of 15% in Bengaluru real estate by 2030.
{{/usCountry}}In 2024, Lodha had said that the company aims to have a market share of 15% in Bengaluru real estate by 2030.
{{/usCountry}}In this context, Lodha said, “We expect to move from our present market share of between 2% and 3% of sales in Bengaluru in the last fiscal year, when we made about ₹14 billion of sales, to more to 15% of the Bengaluru market by the end of the decade.”
Lodha Group entered the Bengaluru real estate market in 2021 and expects to gain an average of 2% market share in India's IT Capital.
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In April 2024, Lodha had said that its company's market share in the Mumbai real estate market is at around 10%, and the market share of the top five developers in Mumbai is still in the mid-20s.
Lodha Group’s Q4 financial results
On April 24, Macrotech Developers reported a 38% year-on-year rise in consolidated net profit to ₹921.7 crore for the March quarter, driven by higher income.
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The company's net profit stood at ₹665.5 crore in the year-ago period. According to a regulatory filing, its total income rose to ₹4,420.3 crore in the fourth quarter of the previous fiscal year from ₹4,083.9 crore in the corresponding period of the preceding year.