38 year old Abhishek Lodha and his family transferred 180 million shares of Macrotech Developers, a publicly traded real estate company, to the Lodha Philanthropy Foundation.
These shares, comprising a quarter of the family’s 72% ownership stake, were valued at approximately $2.5 billion on the transfer date.
The dividend income generated by the shares will support philanthropic initiatives in four areas: women’s empowerment, child development, environmental conservation, and the promotion of Indian culture.
Established in 2013, the foundation operates programs such as the Lodha Genius Programme, which provides education and mentorship to some of India’s brightest children, and initiatives to enhance women’s participation in the workforce. Lodha disclosed details of this donation in late October, describing it as the family’s “humble contribution to nation-building.”
Abhishek’s father, Mangal Prabhat Lodha, 78, founded Lodha Developers (now Macrotech) in 1980 and is a politician associated with the ruling Bharatiya Janata Party.
His estimated net worth is $11.2 billion.
Abhishek Lodha is a prominent figure in the Indian real estate industry, serving as the Managing Director and CEO of Lodha Group, one of India’s largest real estate developers14. He joined the family business in 2003 after working as a consultant with McKinsey & Company in Atlanta, USA14.
Under Abhishek Lodha’s leadership, the Lodha Group has experienced significant growth:
The company has been India’s largest real estate developer by sales for five consecutive years since FY 2012-131.
Abhishek Lodha has been instrumental in transforming the company into a process-oriented organization that focuses on customer satisfaction and building better lives for its clients1.
In a significant move, Abhishek Lodha and his family recently pledged to transfer a substantial part of their shareholding in Macrotech Developers Ltd. (the listed entity of Lodha Group) to the Lodha Philanthropy Foundation (LPF)235. Key points of this philanthropic initiative include:
The initial corpus of LPF will be approximately $2.5 billion.
LPF will own about one-fifth of Macrotech Developers Ltd.
The foundation focuses on four key areas: women, children, environment, and Indian culture.
Abhishek Lodha cited the Tata family’s philanthropic efforts as a major inspiration for this decision.
The Lodha Group, under Abhishek Lodha’s leadership, has been involved in several high-profile projects:
World One, a 76-floor skyscraper in Mumbai.
No.1 Grosvenor Square in London, a transformation of the former US embassy into 44 luxury residences.
Holland Park Gate, another exclusive development in London.
Abhishek Lodha has a strong academic background and has received several accolades:
Graduated from Georgia Institute of Technology.
Received the President’s Award for highest GPA in his graduating class.
Named among the Leaders of Indian Infrastructure and Construction by Economic Times in 20091.
Listed in the Top 50 Young Marwaris by Times of India Group in 20081.
Abhishek Lodha’s leadership has been pivotal in the Lodha Group’s growth and its recent significant philanthropic commitment, positioning him as a notable figure in both the real estate industry and charitable circles in India.