Macrotech Developers jumps on land acquisition buzz

According to the media reports, the realty developer has finalized an agreement to purchase a 3.4-acre plot in Jogeshwari West from Unichem Laboratories for a sum exceeding Rs 279 crore.

The acquired land, situated within the Prabhat Estate off Swami Vivekananda Road, includes an 82,000 square foot office building. This structure previously served as Unichem's registered office.

Macrotech Developers (Lodha Group) is among the largest real estate developers in India. Its consolidated net profit rose 88% to Rs 944.40 crore on 39% jump in revenue from operations to Rs 4,083 crore in Q3 FY25 over Q3 FY24.