Real estate mogul Abhishek Lodha and his family have announced plans to transfer shares worth around INR 20,000 crore from Macrotech Developers (MDL) to the Lodha Philanthropy Foundation (LPF). This transfer of approximately 18-19% of the Lodha family's stake in MDL, inspired by the Tata Group's philanthropic model, will be used to fund social initiatives in education, women's empowerment, and sustainable urban development.
On 21st October, real estate magnate Abhishek Lodha and his family announced their decision to transfer shares worth approximately INR 20,000 crore from their listed entity, Macrotech Developers, to the group's philanthropic arm, following in the footsteps of the Tata Group. Macrotech Developers Ltd (MDL), one of India's premier real estate developers under the Lodha brand, currently has a market capitalisation exceeding INR 1.10 lakh crore, with the promoters holding a 72.11% stake. Through this initiative, Abhishek Lodha and his family will allocate around 18-19% of their stake in Macrotech Developers to the Lodha Philanthropy Foundation (LPF), a non-profit organization dedicated to national and social causes.
MDL Managing Director and CEO Abhishek Lodha stated that shares worth INR 20,000 crore would soon be transferred from MDL to the foundation, and an advisory board would be formed in January next year to oversee the social initiatives. He explained that the Lodha Philanthropy Foundation (LPF) would utilize the dividend income from these shares to support various social programs, including those in education, women's empowerment, and sustainable urban development. Under this new structure, LPF would have an initial corpus of around INR 20,000 crore (USD 2.5 billion).
Commenting on the family's choice to dedicate a substantial portion of their wealth to national and social causes, Lodha shared that the Tata family's decision nearly 100 years ago to transfer a significant part of their shareholding to the Tata Trusts had been a powerful influence on him. He remarked on the considerable impact this act has had on India through the Trusts' efforts, which served as a major source of inspiration.
Established in 2013, the Lodha Philanthropy Foundation (LPF) runs various programs within the social sector. Among these initiatives is 'Lodha Unnati,' which aims to boost female workforce participation in India by collaborating with Indian corporations. LPF also supports the 'Institute of Applied Mathematics (IAM),' which is dedicated to promoting advanced research by top mathematical talent, both Indian and international.
Through the 'Lodha Genius Programme,' the foundation extends financial support, mentoring, infrastructure, and advanced learning resources to talented children across India. Additionally, it offers scholarships to outstanding Indian students for undergraduate and postgraduate studies at leading global institutions. In its commitment to sustainability, the foundation has partnered with the Rocky Mountain Institute (RMI) in the USA to work towards achieving net-zero emissions in the real estate and infrastructure sectors.
Formerly known as Lodha Developers, Macrotech Developers has delivered nearly 100 million square feet of real estate and is currently developing over 110 million square feet within its ongoing and planned portfolio. Abhishek Lodha's commitment to philanthropy reflects a growing trend among business leaders in India, reinforcing the importance of social responsibility and sustainable practices in today's corporate landscape.
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