Abhishek Lodha, Managing Director and CEO of the Lodha Group, has announced a significant transfer of his family’s shareholding in Macrotech Developers Ltd. (commonly known as Lodha) to the Lodha Philanthropy Foundation (LPF) on the auspicious occasion of Diwali. This transfer will make LPF a substantial shareholder in one of India’s largest real estate companies.
The Lodha Philanthropy Foundation is a non-profit organization dedicated to national and social upliftment, with an initial corpus of approximately ₹20,000 crores (US$2.5 billion). The foundation’s initiatives focus on four key areas: women’s empowerment, children’s education, environmental sustainability, and the promotion of Indian culture.
Commenting on the decision, Abhishek Lodha stated, “About 100 years ago, the Tata family transferred a major part of their shareholding to the Tata Trusts, creating a significant impact on India. Their legacy has inspired me. With the support of my family, the Lodha Philanthropy Foundation will now own about one-fifth of Macrotech Developers. As Lodha continues to grow, LPF will have increasing resources to fulfill our commitment to ‘Do Good, Do Well.’”
Key initiatives of the Lodha Philanthropy Foundation include:
- Lodha Unnati: A program aimed at increasing female participation in India’s workforce by working with corporates to create conducive work environments for women while providing upskilling opportunities.
- Institute of Applied Mathematics (IAM): Modeled after the Fields Institute in Canada, IAM seeks to establish India as a leader in mathematical research, vital for national security and economic success.
- Lodha Genius Programme: This initiative supports talented children from diverse backgrounds in achieving their potential, offering mentorship and resources from middle school through their first job.
- Justice Gumanmal Lodha Scholars Program: Named after the late Chief Justice Guman Mal Lodha, this program offers scholarships for Indian students to study at prestigious global institutions, encouraging them to return and contribute to India’s development.
Additionally, the Lodha-RMI Net Zero Accelerator aims to transition India’s built environment towards net-zero carbon emissions, while the Chandresh Lodha Memorial Schools provide quality education to thousands of students with a focus on character development.
Abhishek Lodha emphasized the foundation’s alignment with the Indian government’s vision of a developed nation by 2047, stating, “The Lodha Philanthropy Foundation represents the dreams of all 1.5 billion Indians. From today onwards, all of India will be a partner in, and benefit from, the growth and success of the Lodha Group and Macrotech Developers.”
With this strategic move, the Lodha family aims to make a lasting impact on society while ensuring the continued success of their business ventures.
Also Read: Lodha recognized as the ‘Global Sector Leader in Sustainability’ by GRESB
