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Trump Tower Builder Cuts Luxury for Cheap Homes in India

  • Lodha to cut premium housing share to 17% over next 3-4 years
  • Says ‘on track to make arrangements’ to pay USD bond in March
Abhishek Lodha
Abhishek LodhaPhotographer: Kanishka Sonthalia/Bloomberg
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A Trump Tower developer in Mumbai, India’s financial hub, is shifting focus to cheaper apartments and office space as a credit squeeze crimps demand for posh properties.

Macrotech Developers, earlier known as Lodha Developers, will cut the share of premium housing from its portfolio to about 17% from 30%, said Managing Director Abhishek Lodha. It’s also looking to increase contributions from so-called affordable housing to about 50% of revenue over the next three to four years from 40%.