Macrotech Developers said that it has executed a share purchase agreement for acquisition of 100% stake in Janus Logistics and Industrial Parks (JLIPPL) for total consideration of Rs 47.94 crore.
Janus Logistics and Industrial Parks (JLIPPL) engaged in the business of construction and development of warehousing and logistics assets. The total turnover for last 3 years is NIL as JLIPPL has no business operations.
The acquisition is in pursuance of the company’s planned strategy for calibrated growth in Digital Infrastructure viz industrial and logistics under the LILP (Lodha Industrial and Logistics Park) brand.
The company has acquired 100% equity stake in JLIPPL from Phoenix Logistics and Industrial Parks.
Macrotech Developers (Lodha Group) is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing.
The companys consolidated net profit surged 109.46% to Rs 422.9 crore on 50.07% jump in revenue from operations to Rs 2,625.7 crore in Q2 FY25 over Q2 FY24.
The scrip fell 1.66% to close at Rs 1,253.45 on Friday, 29 November 2024.
Source: Business-Standard