Macrotech Developers Announces Residential Project Spanning 64 Acres in Bengaluru, Eyes ₹8600 Crore GDV

Macrotech Developers has announced plans to develop housing projects spanning over 64.4 acres in Bengaluru, with a projected gross development value (GDV) of ₹8600 crore. This marks a significant step in the company’s strategic expansion into the city’s lucrative real estate market. With several ongoing and upcoming projects in Bengaluru, Macrotech aims to tap into the growing demand for residential properties in one of India’s most prominent tech hubs.

The company has outlined a diversified portfolio of projects, including developments in both the northern and southern parts of Bengaluru. Some of the major projects include Lodha Mirabelle near Manyata Business Park (10 acres with a ₹1,200 crore GDV), and a development in Devanahalli covering 17 acres with a GDV of ₹2400 crore. In the southern part of the city, Macrotech is also focusing on projects such as Lodha Azur on Bannerghatta Road (9.2 acres with ₹800 crore GDV), Hosa Road (9.2 acres with ₹1,400 crore GDV), and a massive 19-acre development in Sarjapur with a ₹2800 crore GDV.

These projects collectively represent a potential for significant pre-sales growth in the coming years. According to Macrotech, these housing developments are expected to accelerate in the next financial year, and the company is poised to add eight new projects by the end of FY25, spanning across major markets like Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, with an overall GDV exceeding ₹19,500 crore.

Macrotech’s entry into the Bengaluru market is a part of its larger strategy to expand its footprint in major urban areas across India. The company has been acquiring land through outright purchases and entering joint development agreements with landowners. In a recent move, it acquired a 19-acre land parcel for a project worth ₹2,800 crore. This acquisition will further strengthen its position in the city’s real estate landscape.

Abhishek Lodha, the Managing Director and CEO of Macrotech Developers, commented that the company has successfully concluded its pilot phase in Bengaluru, a phase that began in mid-2021. During this time, the company focused on building a strong local team, understanding the market dynamics, and refining its delivery mechanisms. Lodha expressed confidence that Macrotech could capture a 15% market share in Bengaluru by the end of the decade.

The company’s operational performance has also been impressive. In its recent Q3 FY25 update, Macrotech reported presales of ₹4510 crore, marking a 32% year-on-year growth. Customer collections during the quarter stood at ₹4290 crore, showing a 66% YoY increase. Macrotech’s ability to acquire strategic land parcels, coupled with its operational success, positions it as one of the key players in India’s real estate sector.

Apart from residential projects, Macrotech has also been focusing on diversifying its portfolio with ventures into digital infrastructure, including warehousing and industrial developments. This is in line with the company’s long-term strategy to de-risk its business by increasing its annuity income.

With its large-scale developments in Bengaluru, Macrotech Developers is not only expanding its presence but also contributing significantly to the city’s residential real estate market.