Lodha inducts two independent Directors on its board

Mansingh Bhakta and T. P. Ostwal joins its Board

Lodha Developers Ltd., country’s premier real estate developer today announced that legal luminary Mr. Mansingh L. Bhakta and leading taxation advisor Mr. T.P.Ostwal have joined its board as Independent Directors.

Mr. Abhisheck Lodha, Director, Lodha Developers Ltd said, “We are pleased to welcome Mr. M. L. Bhakta and Mr. T. P. Ostwal on our board. Rich experience of both veterans in their respective areas would be of an immense value to the company. The company’s board would be further strengthened with the appointments of the two luminaries.

Mr. Mansingh L. Bhakta brings with him over 50 years of experience in legal field. He has been a legal advisor to leading firms including Citibank, HSBC, Deutsche Bank and Reliance Industries Limited. He has also held directorships in leading industrial houses including Kirloskar Oil Engines Limited., Arvind Mills Ltd and Larsen and Toubro Ltd.

Mr. T. P. Ostwal, who is joining the board of Lodha Developers Limited is on the board of several corporates as an independent director including the Tata Group, and has been a Member of Expert Committee formed by Central Board of Direct Taxes (CBDT) for framing Transfer Pricing Regulations in India.

Lodha Developers Ltd. has emerged as the premier real estate developer in Mumbai providing comprehensive residential and office space solutions across real estate categories and diverse consumer segments - from luxury garden residences in South Mumbai to large integrated townships in the suburbs, from thoughtfully designed office environments to private villa retreats.

About Lodha Group

Established in 1980, Lodha Group is Mumbai’s premier real estate developer providing comprehensive residential and office space solutions across real estate categories and diverse consumer segments - from luxury garden residences in South Mumbai to large integrated townships in the suburbs, from thoughtfully designed office environments to private villa retreats. Headquartered in Mumbai, the group is currently developing in excess of 25 million sq. ft. of prime real estate spread over 27 projects. The group has recently expanded into Hyderabad with the launch of Lodha Bellezza, a super-luxury residential project.

The group continuously strives to exceed the expectations of customers through innovative, world-class solutions leading to several innovative firsts to its credit – be it Lodha Bellissimo – Mumbai’s first “By invitation only” project which is the only Indian residential project amongst the top 1000 landscapes in the world, Lodha Luxuria – Mumbai’s first ‘Fully Automated Township’ or Lodha Aqua – Mumbai’s first water inspired township. Lodha Group has created an entirely new residential category – mid-income luxury. A new sub-brand CASA by Lodha was created for this category, with essential quality and luxury endorsement, providing ‘right sized’ and ‘right priced’ products in Mumbai’s suburban locations.

Lodha Group has extended this philosophy to office spaces as well, where it was one of the first in India to introduce the concept of branded office spaces through its unique offerings: Lodha Excelus - Signature offices catering to front office requirements of large corporates, iThink by Lodha – the ultimate IT destination for large back office needs and the recently launched, Lodha Supremus – Signature boutique offices, targeted specifically at mid-sized businesses.

With a focus on building a world class organization, Lodha Group has attracted top talent from premier institutions and B-school campuses, hired professionals from benchmark industries and built a proficient management team.

According to the JP Morgan Property Report 2008, Lodha Group was ranked second in the list of “most sought after for PE investment in the realty sector. Also selected as one of India’s top 10 builders by Construction World, the group has consistently delivered luxury lifestyles through innovative solutions, not just by building structures but by building better lives.