Lodha buys 100% stake in Janus Logistics for Rs 47.94cr

 Macrotech Developers (Lodha Developers) has signed a share purchase agreement with Phoenix Logistics and Industrial Parks to acquire Janus Logistics and Industrial Parks (JLIPL) for Rs 47.94 crore.

"JLIPP, incorporated on December 20,2022, is in the business of construction and development of warehousing and logistics assets. The total turnover for the last three years is ₹ NIL as JLIPPL has no business operations," says a regulatory filing by Macrotech.

Following the deal for which no regulatory approval is needed, JLIPL will become a 100 percent subsidiary of Macrotech.

The acquisition is in pursuance of Macrotech's planned strategy for calibrated growth in digital infrastructure viz industrial and logistics, the release added.

Earlier this month, Macrotech had announced agreements to acquire 100 percent stake in Bellissimo Digital Infrastructure Development Management (asset management), Palava Induslogic 4 (warehousing and industrial parks) and Bellissimo In City FC Mumbai 1 (warehousing and industrial parks) from Bain Capital for Rs 307 crore.

Lodha reported a net profit of Rs 423 crore for the second quarter of financial year 2024-25 on total income of Rs 2,685 crore.