Macrotech to invest ₹ 2.8k cr on building units

New Delhi REALTY firm Macrotech Developers will double its investment on construction to Rs 2,800 crore in this fiscal to speed up works at various projects which were hampered last year due to the Covid-19 pandemic and a nationwide lockdown. Mumbai-based Macrotech Developer, earlier known as Lodha Developers, is one of the leading real estate firms in the country. The company got listed on the stock exchange last month after successful launch of its Rs 2,500-crore initial public offering (IPO). In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Abhishek Lodha said the company remains bullish on the real estate sector, especially the residential property market, despite the second wave of the pandemic. He added that the housing demand has been slow during April-May, but it is likely to pick up from the next month. "Sales are happening but there is an impact as prospective homebuyers cannot go for site visits because of the restrictions on movement." Lodha said the company will mainly focus on the development of residential and warehousing properties in the Mumbai and Pune over the next few years.