Saurav Mehndiratta | Apr 5, 2021 |
LODHA DEVELOPERS IPO – Building a Better Life
Macrotech Developers is the largest real estate developer in India, by residential Sales value for the financial years 2014 to 2020.
Company’s core business is residential real estate developments with a focus on affordable and mid-income housing and currently have residential projects in the MMR (Mumbai Metropolitan Region) and Pune.
Company also develops commercial real estate, including as part of mixed-use developments in and around our core residential projects.
Company’s core competency lies in professionally managing the real estate value chain as we have in-house capabilities to deliver a project from conceptualization to completion.
Lodha group has been involved in the real estate business since 1986. Further, Company is led by Abhishek M. Lodha, Managing Director and Chief Executive Officer.
Company has a leadership team of experienced professionals, with relevant functional expertise across different industries, who are instrumental in implementing the business strategies.
Company commenced operations in Mumbai, developing affordable housing projects in the suburbs of Mumbai, and later diversified into other segments and regions in the MMR and Pune.
Company’s brands include “Lodha”, “CASA by Lodha” and “Crown – Lodha Quality Homes” for our affordable and mid-income housing projects. The “Lodha” and “Lodha Luxury” brands for premium and luxury housing projects, and the “iThink”, “Lodha Excelus” and “Lodha Supremus” brands for office spaces.
Company’s inhouse sales team is supported by a distribution network of multiple channels across India as well as key non-resident Indian (“NRI”) markets, such as the Gulf Cooperation Council, United Kingdom, Singapore and the United States.
Company’s large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road).
The affordable and mid-income housing developments accounted for Sales of Rs.3055 crores during the financial year 2020, and constituted 57.77% of our total residential Sales.
Company has land reserves of approximately 3,803 acres for future development in the MMR, with the potential to develop approximately 322 million square feet of Developable Area.
Company has invested in two real estate projects in London, namely Lincoln Square in the West End and No. 1 Grosvenor Square in Mayfair.
Both these projects are now complete, and the net proceeds after repaying the indebtedness is intended to be repatriated to the Company.
1. Mr. Mukund Manohar Chitale (Designation: Independent Director and Chairman)
2. Mr. Abhishek Mangal Prabhat Lodha (Designation: Managing Director and Chief Executive Officer)
3. Mr. Rajendra Narpatmal Lodha (Designation: Whole-Time Director)
| (in Crores) | FY 18 | FY 19 | FY 20 | 31st Dec 2020 |
| Revenue | 13726.5 | 11978.8 | 12560.9 | 3160.4 |
| Net Profit | 1789.3 | 1643.9 | 744.8 | (-264.3) |
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
| Macrotech Developers Ltd | 10 | 18.46 | 26.32 | 17.80% | 103.86 |
| Brigade Enterprises Ltd | 10 | 6.39 | 44.67 | 4.66% | 119.73 |
| DLF Limited | 2 | (-2.41) | N/A | (26.62) | 139.24 |
| Godrej Properties | 5 | 10.84 | 10.84 | 5.63% | 190.64 |
| Oberoi Realty Ltd | 10 | 18.96 | 31.12 | 7.99% | 237.33 |
| Prestige Estates Projects Ltd | 10 | 10.63 | 27.44 | 9.82% | 139.41 |
| Sobha Limited | 10 | 29.69 | 15.12 | 11.59% | 256.33 |
| Sunteck Realty Ltd | 1 | 7.13 | 52.14 | 3.46% | 199.5 |
| Details | Info |
| Issue Opens on | 7th April 2021 |
| Issue Closes on | 9th April 2021 |
| Issue Price | Rs.483 – 486 |
| Face Value | Rs.10 |
| Retail Category Allocation | 35% |
| Minimum Lot | 30 Shares |
| Minimum Investment | Rs.14,580 |
| Issue Constitutes | 11.50% |
| Issue Size | Rs.2500 cr ($337 million) |
| Market Cap | Rs. 21,740 cr ($2.93 billion) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 5,14,40,329 |
| Equity Shares Prior to the Issue | 39,58,78,00,00 |
| Equity Shares after the Issue | 44,73,18,329 |
| Finalization of Basis of Allotment | On or Before 16th April 2021 |
| Initiation of Refunds | On or Before 19th April 2021 |
| Credit of Equity Shares | On or Before 20th April 2021 |
| Listing Date | On or Before 22nd April 2021 |
| Earnings Per Share (EPS | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
| 18.46 | 26.32 | 17.80% | 10386 |
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