New Delhi : Abhishek Lodha and his family are transferring a significant portion of their stake in Macrotech Developers to the Lodha Philanthropy Foundation, inspired by the Tata Trusts. This initiative aims to focus on national and social upliftment efforts.
It was announced that the Lodha family, promoters of the Lodha Group, will transfer shares valued at approximately ₹20,000 crore in the publicly listed Macrotech Developers Ltd.
Macrotech Developers is one of India’s leading real estate firms, operating under the Lodha brand.
The Lodha Philanthropy Foundation (LPF) is a non-profit organization dedicated to utilizing all its income and assets exclusively for national and social causes. “LPF will initially have a corpus of around ₹20,000 crore (USD 2.5 billion),” the company stated.
Reflecting on this significant decision, Abhishek Lodha, MD and CEO of Macrotech Developers, remarked, “Nearly a century ago, the Tata family contributed a substantial part of their shares to the Tata Trusts. The profound impact of that gift on India and the remarkable work of the Tata Trusts have greatly inspired me.”
With the support of my parents, Mangal Prabhat Lodha and Manju Lodha, as well as my wife Vinti Lodha and our children, the Lodha Philanthropy Foundation will now hold approximately one-fifth of one of India’s largest real estate companies, Macrotech Developers Ltd.
