Macrotech Developers lays off up to 400 staff amid mounting debt
- The gross debt of Macrotech, formerly Lodha Group, rose 13% to ₹25,640 cr in FY19, according to a 23 August note by India Ratings
- Macrotech, considered India’s largest realty developer by sales, has dismissed mid-to-junior level employees and contract workers
Macrotech Developers Ltd, formerly Lodha Group, has laid off 350-400 people, amid the liquidity crunch, mounting debt and the ongoing slump in the real estate market, said three people, requesting anonymity.
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