Macrotech to scale digital infrastructure biz on its own, gives investors exit
Subscribe to enjoy similar stories. Macrotech Developers Ltd, which operates under the Lodha brand name, plans to build and scale its digital infrastructure business on its own, after recently buying out existing investors' stakes, said a top company executive. In the last two months, the Mumbai-based developer purchased the entire stake held by private equity firm Bain Capital in three of the company's digital infrastructure subsidiaries -- Bellissimo Digital Infrastructure Development Management Pvt.
Ltd., Palava Induslogic 4 Pvt. Ltd., and Bellissimo In City FC Mumbai 1 Pvt. Ltd -- for ₹307 crore.
It also bought out the stake held by an entity of Canada's Ivanhoé Cambridge Inc. for ₹239.56 crore. In 2022, Macrotech, Bain and Ivanhoé had partnered to jointly invest $1 billion to create about 30 million sq ft of operating assets to build a platform of logistics and light industrial parks, as well as in-city fulfilment centres.
Macrotech's digital infrastructure portfolio, under the Lodha Industrial and Logistics Park brand, currently is around 5 million sq ft between the three warehousing and industrial parks in suburban Palava and an in-city fulfilment centre at Kurla. Of this, 2 million sq ft is completed and the remaining is either under construction or at the planning stage. “We have a target of ₹1,500 crore in rental income by FY31 through warehousing, office, retail, and potentially data centres.
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