Amid boost in housing demand, Mumbai-headquartered developer Macrotech will invest Rs 4,500 crore in real estate projects and has set a target of 20 percent growth to Rs 14,500 crore for the current financial year.
The developer has acquired land parcels having an estimated revenue potential of nearly Rs 20,000 crore, after development.
Macrotech, which sells its properties under the Lodha brand, creates land banks through outright purchases and joint development agreements (JDAs) with landowners. The company is planning to expand business in the Mumbai Metropolitan Region (MMR) and Pune, besides the launch of two projects in Bengaluru. It has allocated Rs 17,500 crore plus of new business development for the current financial year.