Lodha Family Donates Rs 20,000 Crore to Philanthropy Foundation

Mumbai / October 28, 2024: On the auspicious occasion of Diwali, the Lodha family, promoters of real estate company, Macrotech Developers Ltd., has announced the transfer of a substantial portion of their shareholding in Macrotech to the Lodha Philanthropy Foundation (LPF), a non-profit organization. LPF will use the initial corpus of approximately Rs 20,000 crore (US$2.5 billion) for national and social upliftment causes. 

Commenting on the family’s decision to allocate a significant portion of their wealth to national and social causes, Abhishek Lodha, MD & CEO of Lodha Group, said, “About 100 years ago, the Tata family gave a major part of their shareholding in their enterprise to the Tata Trusts. The huge impact of this gift on India and the good work by the Tata Trusts has been a major inspiration for me. With the blessings of my parents, Shri Mangal Prabhat Lodha and Smt. Manju Lodha, and the support of my wife, Smt. Vinti Lodha, and our children, Lodha Philanthropy Foundation (LPF) will now own ~1/5^th of one of India’s largest real estate companies, Macrotech Developers Ltd. (Lodha / MDL). As Lodha grows further in the years to come, LPF will have ever-increasing resources to fulfil our commitment of ‘Do Good, Do Well’.

“LPF has 4 key focus areas – women, children, environment, and Indian culture. We have been scaling up the activities of the Foundation in the past few years and believe that we now have the right programs, leadership, and team, to enable the Foundation to make a meaningful difference to the Hon’ble Prime Minister vision of India becoming a developed nation by 2047. The Lodha Philanthropy Foundation represents the dreams of all 1.5 billion Indians and from today onwards, all of India will be a partner in, and benefit from, the growth and success of Lodha Group and Macrotech Developers. In the spirit of janbhagidari, this is our humble contribution to nation building,” he added.