Lodha Group family donates big stake in Macrotech Developers to philanthropy foundation

Abhishek Lodha and his family, owners of one of India’s largest real estate companies, the Lodha Group, have announced the transfer of a significant portion of their shareholding in Macrotech Developers Ltd. to the Lodha Philanthropy Foundation (LPF) on the auspicious occasion of Diwali.

The LPF, a non-profit organization dedicated to national and social upliftment, will begin with an initial corpus of approximately ₹20,000 crores (US$2.5 billion). The foundation’s initiatives include:

Lodha Unnati: Focused on increasing female participation in the workforce, this program collaborates with corporates to create supportive work environments and upskill women.

Institute of Applied Mathematics (IAM): Modeled after Canada’s Fields Institute, IAM aims to foster high-quality mathematical research and position India as a leader in the field.

Lodha Genius Programme: This initiative supports talented children from diverse backgrounds, providing them with mentorship and resources to reach their potential.

Justice Gumanmal Lodha Scholars Program: Inspired by the late Chief Justice Guman Mal Lodha, this program offers scholarships to meritorious students for studies at top global institutions, encouraging them to contribute to India’s development upon their return.

Lodha-RMI Net Zero Accelerator: In partnership with the Rocky Mountain Institute, this initiative aims to achieve net-zero carbon emissions in India’s built environment, with a focus on sustainability.

Chandresh Lodha Memorial Schools: The foundation provides quality education to nearly 10,000 students, with significant scholarship support.

Sitaben Shah Temples: These initiatives promote India’s heritage and traditions among younger generations.

Commenting on the initiative, Abhishek Lodha expressed that the move was inspired by the Tata family’s legacy of philanthropy, noting, “With the blessings of my parents and the support of my family, the LPF will now own approximately one-fifth of Macrotech Developers Ltd. As the Lodha Group grows, so will our ability to contribute to social causes.”

The LPF aims to align with the Prime Minister’s vision of making India a developed nation by 2047, emphasizing its commitment to social responsibility across women, children, the environment, and Indian culture.