Abhishek Lodha Pledges Rs 20,000 Crore To Philanthropy, Calls Tata Trusts A Major Inspiration Behind The Move

The CEO made the announcement on Monday and said he was inspired by the Tata family’s decision to donate a major portion of their shareholding in their business to the Tata Trusts a century earlier

As part of its commitment, the CEO said that the Lodha Group will give LPF an initial corpus of Rs 20,000 crore, in turn, making the entity a large shareholder in the listed real estate company.

Source : Facebook/@LodhaGroup

Tata family’s philanthropy continues to inspire many people. This legacy of the business family was quoted by Abhishek Lodha, the managing director and chief executive officer, Lodha Group, when he pledged more than Rs 20,000 crore to philanthropic causes.

The executive announced the commitment on Monday and said he was inspired by the Tata family’s decision to donate a major portion of their shareholding in their business to the Tata Trusts a century earlier, reported Moneycontrol.

The Lodha Group said that it will be transferring a ‘significant part’ of the company’s shareholding in Macrotech Developers to its non-profit organisation, the Lodha Philanthropy Foundation. 

“About 100 years ago, the Tata family gave a major part of their shareholding in their enterprise to the Tata Trusts. The huge impact of this gift on India and the good work by the Tata Trusts has been a major inspiration for me. As Lodha grows further in the years to come, LPF will have ever-increasing resources to fulfill our commitment of ‘Do Good, Do Well’,” Lodha said via an official statement. 

As part of its commitment, the CEO said that the Lodha Group will give LPF an initial corpus of Rs 20,000 crore, in turn, making the entity a large shareholder in the listed real estate company.

“We will soon be transferring shares worth Rs 20,000 crore of MDL to the foundation. An advisory board will be set up in January next year to manage the social initiatives,” Lodha said.

Further, the executive said, “With the blessings of my parents, Mangal Prabhat Lodha and Manju Lodha, and the support of my wife Vinti Lodha, and our children, Lodha Philanthropy Foundation (LPF) will now own ~1/5th of one of India’s largest real estate companies, Macrotech Developers. As Lodha grows further in the years to come, LPF will have ever-increasing resources to fulfill our commitment of ‘Do Good, Do Well’.”