Lodha Philanthropy Foundation to Take on Major Shareholder Role in Macrotech Developers, Committing Rs. 20,000 Crore to Nation-Building Initiatives

Mumbai, October 28, 2024 – In a bold step toward national and social responsibility, Abhishek Lodha, the head of the Lodha Group, announced the transfer of a significant portion of his family’s shareholding in Macrotech Developers Ltd. (MDL), commonly known as Lodha, to the Lodha Philanthropy Foundation (LPF). Coinciding with the Diwali season, this move places LPF as a prominent shareholder in one of India’s largest real estate firms, with a massive corpus of Rs. 20,000 crore (US$2.5 billion) earmarked for societal development.

A Pledge to Empower Women, Youth, and Sustainability

As a non-profit organization, LPF has outlined its dedication to driving transformative initiatives in key areas: women’s empowerment, child development, environmental sustainability, and the promotion of Indian heritage.

1. Lodha Unnati
   Lodha Unnati focuses on increasing female participation in India’s workforce. Working alongside corporate partners, this initiative aims to enhance work conditions for women and provide upskilling opportunities, bridging the gap between professional and family responsibilities. Through Unnati, LPF aspires to redefine the landscape for women’s economic empowerment in India.
2. Institute of Applied Mathematics (IAM)
   LPF’s Institute of Applied Mathematics (IAM) is inspired by the renowned Fields Institute in Toronto. By nurturing exceptional mathematical talent from India and abroad, IAM aims to establish India as a global leader in mathematical research, supporting technological advancements critical to national security and economic development.
3. Lodha Genius Programme
   This program identifies talented students from across India, regardless of financial background, providing them with financial aid, mentoring, infrastructure, and advanced learning opportunities. By fostering academic brilliance and a commitment to social responsibility, LPF seeks to unlock the potential of young Indians from middle school to their first job.
4. Justice Gumanmal Lodha Scholars Program
   Named after former Chief Justice Guman Mal Lodha, this scholarship program offers financial support of up to US$100,000 per year for outstanding Indian students to study at top global universities. While recipients are not required to return to India, the program encourages them to contribute to India’s progress. The initiative is already operational at Harvard University, with plans to expand to 10 other top institutions globally.
5. Lodha-RMI Net Zero Accelerator
   In collaboration with the Rocky Mountain Institute (RMI), LPF is working to accelerate India’s journey to carbon neutrality in the real estate sector. Lodha has already achieved net-zero Scope 1 and Scope 2 emissions and is focused on reducing Scope 3 emissions. The organization now powers nearly all construction with renewable energy and recycles almost all wastewater.
6. Chandresh Lodha Memorial Schools
   Serving approximately 10,000 students, LPF’s Chandresh Lodha Memorial Schools prioritize quality education and character development. Nearly half of the students benefit from scholarships or minimal fees, reinforcing the foundation’s commitment to equal opportunity.
7. Sitaben Shah Temples
   Through the preservation of India’s rich heritage, LPF supports the creation of temples and educational initiatives aimed at deepening young Indians’ connection to their cultural roots.

Echoing the Legacy of Tata Trusts in Modern Philanthropy

Abhishek Lodha, MD & CEO of Lodha Group, drew a historical parallel to the Tata family’s philanthropic legacy, noting the profound impact that Tata Trusts has had on India. “The blessings of my parents, the support of my wife and children, and the inspiration from the Tata family have led us to allocate nearly one-fifth of Macrotech Developers to Lodha Philanthropy Foundation,” Lodha shared. “As we grow, LPF will have ever-increasing resources to drive our commitment to ‘Do Good, Do Well.’”

With a focus on scaling LPF’s impact, Lodha emphasized that this initiative aligns with India’s development goals as set forth by Prime Minister Modi, aspiring for a developed nation by 2047. He concluded, “This foundation symbolizes the dreams of 1.5 billion Indians. Through Lodha Philanthropy Foundation, every Indian will benefit from our growth. This is our humble contribution to nation-building.”

Through LPF’s targeted initiatives and its significant shareholding in Macrotech Developers, the Lodha family is not only reinforcing its corporate ethos but also setting a new standard for socially responsible business practices in India.