Listed Realtor Lodha buys Janus Logistics & Industrial Parks for Rs. 47.94 crore

According to a regulatory filing on November 29, listed real estate developer Macrotech Developers, also known as Lodha, has signed a share purchase agreement for the acquisition of a 100% stake in Janus Logistics and Industrial Parks Private Limited for Rs. 47.94 crore, making JLIPPL a fully-owned subsidiary of Lodha.

As per the regulatory filing, the company says that “the acquisition is in pursuance of our planned strategy for calibrated growth in our annuity income through Digital Infrastructure viz. Industrial and Logistics under the LILP (Lodha Industrial and Logistics Park) brand.”

Lodha declared three weeks ago that it has reached agreements to pay Rs. 307 crore to acquire Bain Capital's stake in its three distinct joint ventures under the Digital Infrastructure Platform.

The business also said in January 2024 that it had finalized the agreements necessary to purchase a 100% share in Goel Ganga Ventures India Private Limited (GGVIPL). GGVIPL is expected to become a fully owned subsidiary of the business after this acquisition.

According to a statement made earlier this year by Abhishek Lodha, CMD of Lodha Group, Palava City, which is located close to Mumbai and spans about 4,500 acres, could grow and bring in over Rs. 8,000 crore annually in the coming years as a result of the construction of commercial and residential buildings, as well as warehouses, industrial spaces, and a hub for life sciences.

During the Q2FY25 earnings call, Lodha group said, "The company’s pilot phase in "Bengaluru has been concluded successfully. As you are aware, when we entered Bengaluru in mid-2021, we had mentioned that we would be in pilot phase for 2-3 years during which, we will focus on building a strong local operating team, understanding local operating nuances and making sure that we can showcase our delivery to consumers".