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The latest announcement is out from Macrotech Developers Ltd. ( (IN:LODHA) ).
Lodha Developers has disclosed that its wholly owned subsidiary G Corp Homes Private Limited, acquired in June 2022 to develop remaining phases of a Bengaluru real estate project, has received an order from the Karnataka Real Estate Appellate Tribunal directing the state RERA authority to seek further compliance from the company. While the RERA authority had earlier upheld G Corp’s compliance and dismissed a related complaint, the tribunal’s directive introduces a new regulatory hurdle for the Bengaluru project; the company plans to challenge the order before an appropriate forum and remains confident of securing a favourable remedy, signalling its intent to defend ongoing project timelines and regulatory standing.
More about Macrotech Developers Ltd.
Lodha Developers Limited, formerly known as Macrotech Developers Limited, is a major Indian real estate developer with listed debt securities on BSE and NSE, focusing on large residential and mixed-use projects across key urban markets, including Bengaluru.
Average Trading Volume: 81,035
Technical Sentiment Signal: Hold
Current Market Cap: 1094B INR
See more insights into LODHA stock on TipRanks’ Stock Analysis page.