Latest news with #LodhaGroup
Business Standard
17-06-2025
- Business
- Business Standard
Macrotech Developers gains after rebranding as Lodha Developers
Macrotech Developers added 1.14% to Rs 1,483.60 after the firm said it has officially changed its name to Lodha Developers, effective 16 June 2025, following approval from the Ministry of Corporate Affairs (MCA). Macrotech Developers (Lodha Group) is among the largest real estate developers in India that has delivered with scale since the 1980s. The core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing. The company reported 38.49% jump in consolidated net profit to Rs 921.7 crore in Q4 FY25 as against Rs 665.5 crore posted in Q4 FY24. Revenue from operations rose 5.12% YoY to Rs 4,224.3 crore in the quarter ended 31 March 2025.
Hindustan Times
16-06-2025
- Business
- Hindustan Times
Macrotech Developers rebrands company's name to Lodha Developers Limited
Macrotech Developers Limited has rebranded the name of the company to Lodha Developers Limited with effect from June 16, the company said in a regulatory filing. Abhishek Lodha-led firm Macrotech Developers Ltd received approval from the Registrar of Companies to change the name almost after two months of settling the trademark dispute with the younger brother who owns House of Abhinandan Lodha. They had settled the dispute on April 14. 'Pursuant to Regulation 30 of the Listing Regulations and further to our intimation dated June 2, 2025, we wish to inform you that the Registrar of Companies, Ministry of Corporate Affairs ('MCA'), has approved the change in name of the Company from "Macrotech Developers Limited" to "Lodha Developers Limited" with effect from June 16, 2025…,' the company said in a regulatory filing. Also Read: Lodha versus Lodha: Brothers settle trademark dispute through mediation According to the agreement reached between the two brothers, listed entity Macrotech Developers Ltd is the owner of and has the exclusive right to use the brand names 'Lodha' and 'Lodha Group'. Abhinandan Lodha is the owner of, and has the exclusive right to use the brand name 'House of Abhinandan Lodha'. Lodha Group and 'House of Abhinandan Lodha' have no connection with each other, and both entities decided to communicate this widely, they had said in a statement. A month after the settlement between the two brothers, Abhinandan Lodha had launched a new identity for the holding company housing his businesses. It was rebranded as Abhinandan Ventures from Lodha Ventures earlier. In January, Abhishek Lodha, CEO of the Lodha Group had moved the Bombay high court, pressing for rights to use 'Lodha' as a trademark and restraining Abhinandan from using either 'Lodha' or 'Lodha Ventures' as business names. The court appointed retired Supreme Court judge R V Raveendran as a mediator to resolve the differences, and a month ago, the Lodha brothers arrived at a resolution.
Hindustan Times
27-05-2025
- Business
- Hindustan Times
Lodha Group eyes growth in Bengaluru with five new projects in FY2026
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. '...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. Also Read: Mumbai Rains: How waterlogging and flooding impact the Mumbai real estate market's property market In 2024, Lodha had said that the company aims to have a market share of 15% in Bengaluru real estate by 2030. 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. Also Read: Bengaluru: Here's how Foxconn's iPhone plant is reshaping Devanahalli's real estate market 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. 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. Also Read: Is buying a home in Bengaluru worth it, or is renting the better option? 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.
Hindustan Times
13-05-2025
- Business
- Hindustan Times
Maharashtra Tribunal backs homebuyers, orders Lodha Group to register portion of New Cuffe Parade Project with MahaRERA
In a major relief for homebuyers, the Maharashtra Real Estate Tribunal has directed the Lodha Group, also known as Macrotech Developers, to register a portion of its New Cuffe Parade project located in Wadala with MahaRERA, despite having obtained a part Occupancy Certificate (OC). The Tribunal noted that the three buildings received the part OC on June 8, 2017—one month after RERA came into effect in Maharashtra. It noted that all projects without completion certificates are required to be registered under RERA. The issue dates back to May 2017, when the Real Estate (Regulation and Development) Act was enacted. Under this, MahaRERA mandated the registration of all new and ongoing projects to market and sell units. The Tribunal said that the three buildings received part OC on June 8, 2017, over one month after the Real Estate Regulatory Act, 2016, came into force in Maharashtra on May 1, 2017. The Tribunal said the project required a completion certificate, without which all projects were mandated to be registered with MahaRERA in 2017. The Tribunal ruled this while hearing a complaint from nine homebuyers. However, Lodha Group contended that the project did not require RERA registration since it had obtained a part OC. According to media reports, over 20,000 buildings in Mumbai have full Occupation Certificates (OCs), and more than 700 buildings have partial OCs. Nine homebuyers booked flats between 2011 and 2014 in the buildings Lodha Dioro, Lodha Elisium, and Lodha Enchante, with possession promised by various dates up to 2016. They alleged that the developer delayed possession, failed to obtain full occupancy certificates (OCS), and secured only partial OCs after the RERA Act came into effect in May 2017. Due to the delay in possession of their flats, the buyers individually filed complaints with the Maharashtra Real Estate Regulatory Authority (MahaRERA). They sought various reliefs, including a directive for the developer to pay interest on the delayed possession amounts, obtain a full occupancy certificate, form a society of flat purchasers, and cover related costs. In February 2020, MahaRERA dismissed the complaints, stating that while the phase of the building that received a part OC does not require RERA registration, the provisions related to conveyance and defect liability under RERA must still be applied to protect the interests of homebuyers who have already taken possession. However, MahaRERA rejected the buyers' request for interest on account of delayed possession, reasoning that such relief is only applicable when the project remains incomplete or the developer is unable to hand over possession. MahaRERA, in its order, advised homebuyers to take possession of their apartments and file complaints, if needed, regarding defect liability under Section 14(3) of the Act. Also Read: Maharashtra Real Estate Appellate Tribunal rules Trade Centre Building in Mumbai's BKC must register under RERA Dissatisfied with MahaRERA's order, the homebuyers approached the Maharashtra Real Estate Appellate Tribunal (MREAT), seeking interest for possession delays, the setting aside of the MahaRERA order, a directive for the developer to register under RERA, and compensation for litigation costs, among other reliefs. The developer argued before the Tribunal that the project phase in question was not covered under RERA and that there was no delay as per law. It argued that the buildings were divided into two phases—lower floors (1–40) and upper floors (41 and above). Since they had obtained a part occupancy certificate (part OC) for the lower floors before the RERA registration deadlines in 2017, they contended that this phase did not require RERA registration. Also Read: MahaRERA update: Maharashtra regulator surpasses 50,000 project registrations in 8 years The Tribunal rejected the developer's argument, stating that a part OC does not equate to a completion certificate. Since the project did not receive full completion or a complete OC before May 1, 2017, the entire project, including the lower floors, was required to be registered under RERA. The Tribunal stated that the RERA Act permits phase-wise issuance of completion certificates and registration, provided each phase is independent and has a separate commencement certificate and registration under the Act. Without the necessary commencement certificate for a phase, it cannot be considered a standalone phase. Also Read: Nearly 50% of Mumbai properties registered in 2024 smaller than 650 sq ft, 60% are 1 BHK and 2 BHK homes: MahaRERA data The Tribunal also clarified that a part OC cannot be equated with a completion certificate and noted that the part registration granted to the project by MahaRERA contradicts the provisions of the RERA. The Tribunal also clarified that a part OC cannot be equated with a completion certificate and noted that the part registration granted to the project by MahaRERA contradicts the provisions of the RERA. "In view thereof, reliefs sought by homebuyers for direction to the developer for payment of interests/ compensation would to be considered appropriately in accordance with the law only after the receipt of the registration of the project before MahaRERA under the provisions of the Act," the MREAT said in its judgment dated May 8, 2025. The Tribunal directed the developer to register the building with MahaRERA within 30 days. After registration, MahaRERA has been directed to handle the complaints of the homebuyers under the RERA. The Tribunal directed the developer to pay ₹25,000 at the tribunal's office. Additionally, the developer was ordered to pay ₹25,000 directly to each appellant for each of the captioned matters within 30 days from the date of the judgment and to bear its own costs. In an email response to the official spokesperson for Macrotech Developers said, "MahaRERA had ruled in our favour, and now the MREAT has given a judgment in favour of the appellants (homebuyers). The MREAT has granted a stay on the execution and operation of the judgment for a period of six weeks. We are studying the judgment and will seek advice on the appropriate next steps."
Time of India
12-05-2025
- Business
- Time of India
XRP price to reach $10 in 2025? Crypto analyst decodes factors that could drive its surge
XRP , one of the largest cryptocurrencies, could reach as high as $10 or more even than that in 2025, as per the latest prediction by a famous crypto analyst. #Operation Sindoor The damage done at Pak bases as India strikes to avenge Pahalgam Why Pakistan pleaded to end hostilities Kashmir's Pahalgam sparks Karachi's nightmare Currently trading at around $2.55, XRP price has gained significant momentum in the current bull cycle. It has climbed from $1.75 on April 9, 2025 to more than $2.50 now. Edo Farina, XRP supporter and crypto analyst on X, highlighted several major factors that are soon expected to increase the crypto's demand, besides boosting its adoption in the global market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Luxury Residences In Bengaluru By Lodha Group Lodha Hosa Road Book Now Undo Will XRP price reach $10? In the current cycle, XRP has emerged as a leading altcoin in the early phase itself. This is quite different from the earlier times when it used to witness a jump only towards the end. Farina recently shared a video on the Elon Musk-owned social media platform predicting XRP's potential price in the months to come. He has even discussed multiple factors that might drive this surge. Live Events Also Read : UK announces measures to tighten immigration policies amid rising voter anger In his close to three-and-a-half minute video, Farina talks about Bitcoin Dominance, looking at it as a major indicator for the price movements of altcoins. At the moment, the price for BTC.D is said to be relatively higher, even though its dominance has declined from 40% to 30%. According to Farina, this marks the onset of the altcoin season. He thinks XRP holds the potential to see a 4X rally from its current price. This means XRP price can reach anywhere around the $10 mark and even more than that, the crypto analyst predicts. A key reason behind its surge in price is the current market cycle. Breaking the mold, the cryptocurrency has performed well early on, contrary to its history of late-stage rallies. With XRP trading above $2 as well as Bitcoin dominance remaining stronger, Farina believes that is a pivotal sign towards "decoupling" from the traditional movements in the market, according to The Crypto Basic. Regulatory clarity One of the major catalysts that could potentially be driving XRP's bullish outlook is the resolution to the long-standing lawsuit between Ripple and the Securities and Exchange Commission (SEC). With XRP no longer being classified as a security in the country, Ripple now is free to offer the token to several financial institutions. This will boost investor confidence and can even lead to its adoption globally, Farina said. Also Read : Who is Edan Alexander? American-Israeli hostage set to be freed by Hamas after more than 500 days in Gaza FAQs 1. How much to pay for 1,000 XRP taking into consideration Edo Farina's projection? Going by Farina's prediction, investors will be required to pay $10,000 for 1,000 XRP if its price reaches $10. 2. What are the largest cryptocurrencies worldwide? These include Bitcoin, Ethereum, XRP, Tether, BNB, Solana, USDC and Dogecoin among others.
