HomeNewsMacrotech in talks with investors for industrial park funding platform

Macrotech in talks with investors for industrial park funding platform

According to media reports, realty major Macrotech Developers is in an advanced stage of discussion with two global investors to set up a platform that will invest more than USD 1 billion to develop warehousing and industrial parks across India. An announcement in this respect is expected to come in next 3-4 weeks.

There will be three partners in the venture, including Lodhas and two other global investors though the names of those investors were not disclosed yet.  The proposed venture would largely provide assets, including land and ready warehousing space, in the platform while the two partners will bring in equity investments to develop warehousing and light industrial parks.

Meanwhile, the company’s sales bookings rose 57 per cent to Rs 9,024 crore during the last fiscal from Rs 5,968 crore in 2020-21. The collections from customers increased 70 per cent to Rs 8,597 crore in the 2021-22 from Rs 5,052 crore in the previous fiscal. The delivery of projects almost doubled to 5.3 million square feet from 2.7 million square feet.

Out of the total target of Rs 11,500 crore in sales bookings in FY23, the company expects sales bookings of Rs 10,500 crore from the residential segment and the rest from sales of commercial assets.

The JDA (joint development agreement) strategy will enable the company to achieve the targeted growth in a very capital-light manner.

The company signed 11 JDAs for nearly Rs 15,000 crore GDV (gross development value) during FY22, he said, adding that the company would actively pursue this route to deepen its presence in Mumbai Metropolitan Region (MMR) and Pune.

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