Mangal Prabhat Lodha Net Worth (Updated 2024)

What is Mangal Prabhat Lodha’s Net Worth?

Mangal Prabhat Lodha, the founder of Macrotech Developers (formerly known as Lodha Group), has an estimated net worth of $12.6 billion. Lodha’s wealth primarily stems from his stake in Macrotech Developers, a Mumbai-based real estate firm that has completed over 85 million square feet of land development.

The company generated revenue of 94.7 billion Indian rupees (approximately $1.2 billion) in the fiscal year ending March 31, 2023. As of March 2024, Lodha, along with his son Abhishek and holding entity Sambhavnath Infrabuild and Farms, owns a 73% share in Macrotech Developers.

Macrotech Developers has undertaken several high-profile projects, including the luxury high-rise World One in Mumbai and the development of the New Cuffe Parade township, which saw an investment of over $1 billion.

Here’s the breakdown of Mangal Prabhat Lodha’s net worth:

If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Early Life and Education

Mangal Prabhat Lodha was born on December 1, 1955, in Jodhpur, Rajasthan, India. He comes from a Marwari Jain family, and his father, Guman Mal Lodha, was a freedom fighter and former chief justice of the Guwahati High Court. Lodha completed his education at the University of Jodhpur, earning a Bachelor of Commerce degree in 1975 and a Bachelor of Laws (LLB) in 1978.

After completing his education, Lodha initially practiced law at the Jodhpur High Court. However, when his father was appointed as a judge in the same court, he decided to relocate his practice to avoid any potential conflicts of interest. This decision ultimately led him to move to Mumbai in 1981, where he laid the foundation for his future real estate empire.

Career in Real Estate Development

Mangal Prabhat Lodha’s journey in real estate began when he moved to Mumbai in 1981 and founded the Lodha Group. Starting with modest projects in Mumbai’s suburbs, Lodha focused on providing affordable housing for the middle class. This strategy laid the foundation for what would become one of India’s largest real estate empires.

Under Lodha’s leadership, the company, now known as Macrotech Developers, has completed over 85 million square feet of real estate development. The firm has undertaken several high-profile projects, including the luxury high-rise World One in Mumbai and the development of the New Cuffe Parade township.

Lodha’s business acumen led to significant growth, with the company generating revenue of 94.7 billion Indian rupees (approximately $1.2 billion) in the fiscal year ending March 31, 2023. The company went public in April 2021, marking a major milestone in its development.

Political Career

Lodha has been a Member of the Legislative Assembly (MLA) representing the Malabar Hill constituency in South Mumbai for five consecutive terms since 1995. His political career has seen him rise to prominent positions within the Bharatiya Janata Party (BJP). He has served as the vice-president of the BJP’s Maharashtra unit and was also the president of the party’s Mumbai branch.

In his role as a legislator, Lodha has been involved in several initiatives. He played a part in introducing the Right to Information Act (RTI) in Maharashtra, helped establish an Animal Welfare Board in the state, and proposed legislation against cow slaughter.

In August 2022, Lodha assumed a ministerial role in the Maharashtra state government, overseeing tourism, skills development, and women and children’s welfare.

Ashley Roberts

Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.

With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.