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Lodha Developers Ltd is preparing to establish a presence in the Delhi-NCR residential sector, with plans to acquire at least one land parcel during the current financial year. Managing Director and CEO Abhishek Lodha indicated that the company intends to enter the market cautiously, adopting a pilot-based approach and forming a dedicated local team. Known for its operations in Mumbai, Pune and Bengaluru, the developer has recently posted robust financial performance, reporting significant growth in both profits and income during the April-June quarter of the current fiscal year.
Lodha Developers Ltd is preparing to venture into the Delhi-NCR housing market, with Managing Director and CEO Abhishek Lodha stating that the company expects to secure at least one land parcel during the ongoing financial year to commence its first residential project in the region. Advertisement
The real estate developer currently holds a substantial presence across the Mumbai Metropolitan Region, Pune, and Bengaluru markets.
As per the transcript of recent management discussions with analysts, Lodha conveyed that the company intends to undertake a few pilot housing projects to better understand the local market dynamics. He also noted that Lodha Developers would gradually assemble a local team to ensure effective execution of its future projects.
He informed analysts that Delhi-NCR represented a critical market for the firm and that its approach would be gradual, similar to its earlier entries into Pune and Bengaluru. Lodha remarked that the initial focus would be on a pilot phase with a modest number of projects and moderate investment levels, aimed at comprehending operational and sales frameworks within the region.
A major priority during the pilot phase, he added, would be establishing a competent local operational team. Lodha further noted that the company anticipated concluding one or more land transactions?either through joint development agreements or other arrangements-within the current financial year, with plans to launch its projects in the next fiscal.
Meanwhile, the Mumbai-headquartered company recently recorded a 42 percent increase in its consolidated net profit, reaching INR 675.1 crore for the first quarter of this fiscal, as compared to INR 475.9 crore in the same period of the previous year.
Operationally, Lodha Developers registered a 10 percent rise in its sales bookings, amounting to INR 4,450 crore during the April-June period of the ongoing fiscal. Total income also surged to INR 3,624.7 crore from INR 2,918.3 crore during the corresponding period last year.
One of the country's leading real estate companies, Lodha Developers reported a net profit of INR 2,766.6 crore on total income of INR 14,169.8 crore for the 2024-25 fiscal.
The company has delivered 110 million square feet of real estate to date and is currently managing a development pipeline of over 130 million square feet across its active and upcoming projects.
Source - PTI
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