Lodha Developers Expands with Major Land Acquisitions in Mumbai Region
Real estate giant Lodha Developers has acquired a land parcel in the Mumbai Metropolitan Region (MMR) for a Rs 2,300 crore housing project. The company has met its fiscal target of Rs 25,000 crore in land parcel acquisitions. Pre-sales rose by 7% amid strong housing demand.
- Country:
- India
Lodha Developers Ltd, a major player in the real estate sector, has announced the acquisition of a land parcel in the Mumbai Metropolitan Region (MMR) during the July-September quarter, aiming to develop a housing project valued at Rs 2,300 crore as part of its business expansion strategy.
The company's acquisition fulfills its annual target of procuring land parcels with a revenue potential of Rs 25,000 crore, a significant milestone for the fiscal year. Earlier this year, Lodha acquired multiple land parcels in Mumbai, Pune, and Bengaluru, eyeing a combined revenue potential of Rs 22,700 crore from these developments.
In its latest operational update, Lodha Developers reported a 7% year-on-year increase in pre-sales, reaching Rs 4,570 crore in Q2 of FY26, driven by a strong housing demand and despite the limited number of new launches. The company projects further substantial sales growth in the coming months due to new project launches scheduled after gaining necessary environmental clearances.
(With inputs from agencies.)
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