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Meet India's 8th richest person who has a whopping net worth of Rs..., his company is....
Initially focused on middle-class housing in Mumbai's suburbs, the company skyrocketed under his leadership, eventually developing luxury projects like Mumbai's Trump Tower and the ambitious World One skyscraper
Updated : Sep 01, 2024, 06:27 AM IST
 "Mangal Prabhat Lodha")
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In the bustling streets of Mumbai, where dreams and fortunes intertwine, one name stands tall—Mangal Prabhat Lodha. With an astounding net worth of ₹93,117 crore, Lodha has carved his name as India's 8th richest person, a title few can claim. But how did a man from Jodhpur rise to such monumental heights?
Born on December 1, 1955, in Jodhpur, Rajasthan, into a Marwari Jain family, Lodha was destined for greatness. His father, Guman Mal Lodha, was not just an independence activist but also a former chief justice of the Guwahati High Court. This strong foundation led Mangal Lodha to pursue a Bachelor of Commerce (B.Com) and Bachelor of Laws (LLB) from the University of Jodhpur. After practicing law in the Jodhpur High Court, he relocated to Mumbai in 1981, where his journey in real estate began.
Mangal Prabhat Lodha laid the cornerstone of Lodha Group (now Macrotech Developers) in 1980. Initially focused on middle-class housing in Mumbai's suburbs, the company skyrocketed under his leadership, eventually developing luxury projects like Mumbai's Trump Tower and the ambitious World One skyscraper. With a portfolio exceeding $1 billion in investments, Macrotech Developers continues to expand, thanks to Lodha's sons, Abhishek and Abhinandan, who joined the business in 2003.
Lodha's impact isn't confined to real estate. As a member of the Bharatiya Janata Party (BJP), he has represented the Malabar Hill constituency in the Maharashtra Legislative Assembly since 1995. His political influence has shaped Mumbai’s infrastructure, including the proposed coastal freeway from Nariman Point to Virar.
Mangal Prabhat Lodha's legacy extends to his family. His elder son, Abhishek Lodha, steers Macrotech Developers, while his younger son, Abhinandan Lodha, founded Lodha Ventures and The House of Abhinandan Lodha. The Lodha family’s wealth surged by ₹51,000 crore recently, bringing their total to ₹1,03,800 crore.
