Macrotech Developers Ltd, a prominent real estate developer, has acquired Bain Capital’s entire stake in three of its digital infrastructure subsidiaries for a sum of Rs 307 crore, taking the shares 3% higher on 7 November. 

This move aligns with Macrotech’s strategic vision to boost its annual annuity income to Rs 1,500 crore under its Lodha Industrial and Logistics Park brand, marking a key step in the company’s long-term growth plan.

The three companies are Bellissimo In City FC Mumbai 1 Pvt Ltd, Palava Induslogic 4 Pvt Ltd, and Bellissimo Digital Infrastructure Development Management Pvt Ltd, per an exchange filing. Bain Capital has a 30% ownership in Bellissimo Digital Infrastructure and a 33.33% stake in each of the latter two companies through its businesses.

In October, the Canadian real estate company Ivanhoe’s India subsidiary sold its ownership in all three companies to Macrotech, which sells under the Lodha name.

Abhishek Lodha, Managing Director and Chief Executive Officer of Macrotech Developers, stated during the company’s recent post-earnings call that the company intends to expand its revenue streams beyond its primary residential business, beginning with its integrated development at Palava, on the outskirts of Mumbai. Macrotech and Amazon Web Services reached an agreement in October to sell about 40 acres of land for about Rs 12 crore per acre, with AWS intending to build a data centre on the purchased property.

The company also mentioned that data centres will be a source of rental income streams in the coming years and that it is in negotiations with other data hyperscalers to sell more property at Palava for about Rs 20 crore per acre.

At 2:03 pm, the shares of Macrotech Developers were trading 0.057% higher at Rs 1,219.25 on NSE. 

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