The Lodha family, promoters of real estate giant Macrotech Developers Ltd, are making a substantial philanthropic move by transferring a significant portion of their stake in the company to the Lodha Philanthropy Foundation (LPF). This donation, valued at around ₹20,000 crore (approximately $2.5 billion), reflects a commitment to using their wealth for national and social welfare causes.
Macrotech Developers, a leading player in India’s real estate industry, markets properties under the Lodha brand and has been instrumental in various real estate projects across the country. The company’s reputation for quality construction and visionary urban development has made it a prominent name in the sector. Now, with this transfer of wealth, the Lodha family aims to make a lasting impact beyond real estate.
The Lodha Philanthropy Foundation, a registered non-profit organization, was founded with a mission to channel its resources solely toward national and social upliftment. The foundation is set to start with an initial corpus of approximately ₹20,000 crore, which will be devoted to various social causes. “LPF will have an initial corpus of around Rs 20,000 crore (USD 2.5 billion),” the company confirmed in a recent statement.
Abhishek Lodha, Managing Director and CEO of Macrotech Developers, explained the family’s motivation for this landmark decision, citing the legacy of philanthropic contributions made by other business families in India. “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,” Lodha noted. This act of corporate philanthropy by the Tata family, which has supported numerous healthcare, educational, and social projects across India, resonated deeply with the Lodha family, inspiring them to create a similar impact in their own way.
This initiative also underscores Abhishek Lodha’s strong belief in the importance of giving back to society, a value that he credits his family with instilling in him. “With the blessings of my parents Mangal Prabhat Lodha and Manju Lodha, and the support of my wife Vinti Lodha, and our children, Lodha Philanthropy Foundation (LPF) will now own around 1/5th of one of India’s largest real estate companies, Macrotech Developers Ltd,” he stated, emphasizing the joint family commitment to the foundation’s mission.