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Macrotech Developers forms joint venture to develop first housing project in Bengaluru

23 Jun 2022 Evaluate

Macrotech Developers has entered into the Bengaluru market and has formed a joint venture to develop its first housing project with an estimated sales bookings value of Rs 1,200 crore. The company's first project in Bengaluru has been signed through the joint development agreement route by acquiring 100 per cent equity shares of a company namely G Corp Homes. G Corp Homes has been acquired for Rs 21 crore.  Property consultant Anarock facilitated the deal. The project is located adjacent to Manyata Tech Park.

Bengaluru will be the third housing market where the company's residential developments will be available for the consumers, thereby covering nearly 2/3rd (by value) of the housing market of the top-7 Indian cities. This follows the company's successful expansion in Pune where it now has two operating projects and several more to be launched in FY23.

Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.

Lodha Developers Share Price

871.70 -2.00 (-0.23%)
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Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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