Mangal Prabhat Lodha (born 1 December 1955) is an Indian businessman and politician. He is the Minister of Ministry of Tourism, Ministry of Skill Development and Entrepreneurship (Maharashtra). He was the president of Bharatiya Janata Party‘s Mumbai unit. He is the founder of the Macrotech Developers, a Mumbai-based real estate developer. He is also the Member of the Legislative Assembly representing the Malabar Hill constituency of South Mumbai. In 2022, he ranked 37th on the Forbes India rich list with a net-worth of US$5.1 billion.
Career in real estate development
Lodha’s firm, Macrotech Developers (erstwhile Lodha Developers), has multiple projects under construction, including the Mumbai luxury high-rise World One. The company invested over $1 billion in developing the township New Cuffe Parade. The company is run by his sons, Abhishek Lodha and Abhinandan. Lodha Developers’ shares started trading on NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) on 19 April 2021.
Founder, Macrotech Developers
- Politician and property magnate Mangal Prabhat Lodha founded developer Lodha group in Mumbai in 1980, now known as Macrotech Developers.
- A native of the desert state of Rajasthan, Lodha started off by building middle-class homes in Mumbai’s far-flung suburbs.
- Net worth: $6.3 billion
- After his sons Abhishek and Abhinandan joined the business in 2003, the firm went on an expansion binge picking up prime land parcels. Abhinandan has since left the business.
- Lodha built Mumbai’s Trump Tower, a 75-story luxury skyscraper, located in a complex called The Park, in midtown Mumbai.
- In 2021, Lodha completed Macrotech’s long-delayed IPO.
