Stay updated with breaking news from Macrotech Developer. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Under the resolution plan, Macrotech Developers will pay Rs 900 crore in tranches over a period of 270 days. The first tranche of Rs 90 crore has already been remitted.
Lodha Group-owned Macrotech Developers is paying around Rs 890 crore to acquire the hotel property in Juhu, an affluent suburb in western Mumbai. The bankrupt hotel company had admitted liabilities of over Rs 2,500 crore. Financial lenders of V Hotels had in June 2023 approved Macrotechs resolution plan with all voting in its favour.
The company's total income increased to ₹10,469.5 Crore in FY2023–24 from ₹9,611.2 Crore in the FY2022–2023 fiscal year.
Macrotech Developers shares are up 8.3 per cent in 2024 so far. The stock has delivered a solid 153 per cent return in the past one year.
Axis Bank has paid a security deposit of ₹5.12 crore for the deal that was registered on January 31, 2024, the leave and license agreement showed