Up next
Tags

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

SHARE ON
TwitterWhatsappFacebookBufferLinkedInPin It
You May Also Like
Lodha

Lodha Reports 71% Surge in Profit for FY25

Lodha has announced a remarkable 71% rise in net profit for FY25, backed by a 34% revenue jump and record pre-sales of ₹176.3 billion.
MahaRERA

Developer liable for promise made by Channel Partner

Developer is liable for a promise made to a home buyer by…
In a major relief for Mumbai’s mill workers, the Maharashtra government has withdrawn a rule that permanently barred workers from MHADA housing if they refused an offered home, restoring fairness to the long-pending housing scheme.

Maharashtra Govt Reverses Harsh Rule on Mill Workers’ Housing Allotment — “No More Lifetime Ban for Rejecting an Offered Home”

In a major relief for Mumbai’s mill workers, the Maharashtra government has withdrawn a rule that permanently barred workers from MHADA housing if they refused an offered home, restoring fairness to the long-pending housing scheme.
In a landmark ruling, the Bombay High Court has cleared the path for the BMC to take direct control of a Malad East slum rehabilitation project, rehabilitating eligible dwellers at its own expense after cancelling a private developer's NOC for non-compliance. The decision prioritizes public amenities on civic land and highlights landowner rights in Mumbai's redevelopment landscape.

Bombay High Court: Slum Occupants Cannot Stall Eviction Over Disputes on Rehab Shop Location

The Bombay High Court has held that slum occupants cannot block eviction proceedings by disputing the location of their rehabilitation premises, ruling that such allotment disputes must be settled separately after vacating.