Macrotech Developers Expands Footprint in Bengaluru with Major Land Acquisition

Macrotech Developers has acquired almost 20 acres of land in Bengaluru for a housing project valued at Rs 2,800 crore. The Mumbai-based company is expanding in Bengaluru as part of its strategic growth, aiming for a significant increase in pre-sales from the next fiscal year.

Real estate giant Macrotech Developers has made a strategic move by acquiring nearly 20 acres of land in Bengaluru, aiming to develop a Rs 2,800 crore housing project. This acquisition is part of the company's broader expansion plan across the city.

The Mumbai-based firm, known for its Lodha brand properties, is diversifying its portfolio by purchasing land outright and partnering with local landowners for joint developments. The recent land acquisition is expected to fuel considerable pre-sales growth starting from the next financial year.

With its foray into Bengaluru, Macrotech now operates in five locations within the city, marking a significant shift from its stronghold in the Mumbai Metropolitan Region and Pune. The company's recent initiatives have already shown impressive growth, as it reported a 32% rise in sales bookings, reaching Rs 4,510 crore for the last quarter.

(With inputs from agencies.)