Lodha is the founder of Macrotech Developers, a residential real estate company in India. The Mumbai-based business, also known as Lodha Group, has developed more than 85 million square feet of land and reported revenue of 94.7 billion Indian rupee ($1.2 billion) in the 12 months to March 31, 2023.
The majority of Lodha's fortune is derived from his stake in Macrotech Developers, a real estate company. The Mumbai-based group has developed more than 85 million square feet of land, according to the its website.
He owns 73% of Macrotech Developers, also known as Lodha Group, through a promoter group including his son Abhishek and holding vehicle Sambhavnath Infrabuild And Farms, according to a March 2024 filing. Shares held by the promoter group are attributed to him in the calculation to reflect his status as the founder.
The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.
Pritha Chatterjee, a spokesperson for Lodha Group, didn't respond to a request for comment on the net worth calculation.
Lodha was born in December 1955.
His father, Guman Mal Lodha, was a chief justice of the High Court in Guwahati city.
Born and raised in Jodhpur, a city in northwest India, he graduated from the University of Jodhpur with commerce and law degrees. He practised law at the Jodhpur High Court until his father became a judge there.
He moved to Mumbai in 1981 and founded the Lodha Group. The company became publicly traded in April 2021.
Lodha was appointed a minister of the Maharashtra state, responsible for the state's tourism, skills, women and children development, in August 2022.