Macrotech Boosts Industrial And Logistics Division With Rs 100 Crore Acquisition

Realty firm Macrotech Developers Ltd, known for their Lodha brand, has announced the acquisition of a 100% stake in Opexefi Services Pvt. and One Box Warehouse Pvt. for approximately Rs 100 crore. This move is part of its strategy to expand its industrial and warehousing park development business.

With this acquisition, both Opexefi and One Box will become wholly owned subsidiaries of Macrotech Developers, according to a regulatory filing.

The company emphasised that this acquisition aligns with its planned strategy for growth in digital infrastructure, specifically within the industrial and logistics sectors.

Macrotech Developers purchased Opexefi for Rs 46.67 crore.

Opexefi, established on Dec. 6, 2018, focusses on the development of logistics parks and warehouses. However, the company has not yet generated revenue, as it has not commenced business operations.

One Box, incorporated on Oct. 6, 2023, is also in the business of developing logistics parks and warehouses. The total turnover for previous years is zero as there are no business operations conducted by One Box.

In May 2022, Macrotech Developers announced a tie-up with Bain Capital and Ivanhoé Cambridge to set up a platform that will invest around $1 billion to develop digital infrastructure space, including warehousing and industrial parks across India.

The platform intends to establish a pan-India presence in the digital infrastructure space that includes logistics and light industrial parks as well as in-city fulfilment centres.

Macrotech Developers is one of the leading real estate developers in the country. It sold properties worth more than Rs 14,000 crore in the last fiscal and is targeting for Rs 17,500 crore sales bookings in the 2024-25 financial year.

(With Inputs From PTI)