Lodha's Billion-Dollar Philanthropy: A Generational Gift to Society

Abhishek Lodha and his family have pledged shares worth Rs 20,000 crore from Macrotech Developers to the Lodha Philanthropy Foundation. The initiative aims to fund national and social causes, inspired by the Tata family's legacy. The foundation focuses on education, women's empowerment, and sustainable urbanization.

In a significant move reminiscent of the Tata Trust's legacy, real estate magnate Abhishek Lodha and his family have announced their decision to pledge shares worth Rs 20,000 crore of Macrotech Developers to their philanthropic arm, Lodha Philanthropy Foundation (LPF).

Macrotech Developers, one of India's leading real estate companies with a market cap exceeding Rs 1.10 lakh crore, will see an 18-19% stake transferred to LPF. The foundation is committing to various social endeavors, including educational initiatives, women's empowerment, and promoting sustainable urban practices.

The initiative takes inspiration from the Tata family's historical philanthropic contributions, aiming to make a lasting impact through substantial social investments in national interests. An advisory board will be established next year to oversee these transformative programs.

(With inputs from agencies.)