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Lodha Group

Lodha Group

Lodha Group is a privately-held real estate developer based in Mumbai, India established in 1980 by Mangal Prabhat Lodha.

The company is among India’s top real estate companies known for its world-class commercial and residential properties. The majority of the properties are located in Mumbai. They also have a presence in Hyderabad, Pune and London.

Company history

Lodha Group was established in 1980 by Mangal Prabhat Lodha. Abhishek Lodha, son of Mangal Prabhat Lodha is in charge of the company’s development in Mumbai. Abhishek Lodha graduated from Georgia Institute of Technology, Atlanta in the US. After his education he worked as a business strategist for the Fortune 500 companies at McKinsey and Co.

Some known projects are Lodha Bellissimo, Mumbai’s first invite-only project, and The World Towers which includes World One that will be the tallest residential only structure in the world.

The group has made several acquisitions including the Washington House property on Altamount Road from the American Government for Rs. 341.8 crores. Currently under construction, Altamount is located at the world’s ten most expensive streets per sq.ft. price for properties.

In 2010, they recorded the biggest land deal in India to date by buying a plot for Rs. 4,053 crores from the Mumbai Metropolitan Region Development Authority, for developing a neighbourhood region called New Cuffe Parade.

In 2012, they recorded the biggest land deal in Mumbai’s main location from DLF for approximately Rs. 2,700 crores. The group made its entry into United Kingdom by buying MacDonald House in Central London for 3,120 crores from the Canadian Government. The company also acquired a premium site near Covent Garden in Central London that took their combined investment in the United Kingdom to roughly GBP 400 million.

In 2014, the group acquired an 24-acre plot of land from chemical producer Clariant for Rs. 1,154 crores in Thane in the Mumbai Metropolitan Region.

In August 2013, the company unveiled The Park, the 17.5-acre project located at Worli, Mumbai with Aishwarya Rai as the brand ambassador.

In March 2016, Lodha launched Amara, a 40-acre development in Thane with Bollywood couple Akshay Kumar and Twinkle Khanna as its brand ambassadors.

The group is also known for its development of Palava - India’s first greenfield smart city that is spread over 4,000 acres in Dombivli. To build and manage the smart city infrastructure at Palava, Lodha has partnered with IBM and General Electric. Palava launched 2014 with Amitabh Bachchan.

Lodha Groups latest build in the UK is the Lincoln Square building in London.

Timeline

Patents

Further Resources

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News

Title
Author
Date
Publisher
Description
Raghavendra Kamath
July 29, 2021
@bsindia
Palava Industrial and Logistics Park has now emerged as the preferred partner for companies looking for warehousing and industrial space solutions in Mumbai
Madhurima Nandy
July 8, 2021
mint
Lodha's pre-sales were up 88% from ₹509 crore reported a year ago, despite the disruption caused by the second wave of covid-19
Press Trust of India
March 6, 2020
@bsindia
Read more about Lodha Group's UK subsidiary firm raises $200 million to pare debt on Business Standard. Realty firm Lodha Group on Friday said its UK subsidiary has raised USD 200 million (around Rs 1,473 crore) through issuance of bonds in the Singapore market and the amount will be used to repay debt.Lodha Developers International Ltd, a
Press Trust of India
February 27, 2020
@bsindia
The bonds will be listed on Singapore exchanges. JP Morgan, UBS and CLSA are the merchant bankers for the issue
Bloomberg
December 31, 2019
@bsindia
Read more about Lodha Group calls for unconventional policies to fight growth woes on Business Standard. Calls for authorities to unveil more steps have been gaining steam. India's central bank has struggled to revive economic growth despite being the most aggressive slasher of rates among Asian peers.
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