Lodha group ties up with Adobe for digital solutions to boost sales

Realty major Lodha Group, which plans to launch over Rs 50 billion public issue, Thursday said it has tied-up with software firm Adobe to access digital marketing solutions as the developer seeks to boost its sales and provide better services to property buyers.

Mumbai-based developer Lodha Group said in a statement that it has formed "a strategic partnership with Adobe, to augment the company's digital transformation strategy."

The company would leverage the power of Adobe Experience Cloud solutions to expand its reach, drive enhanced customer experiences across channels, and gain competitive advantage.

"With competition heating up in the real estate sector in India, and customers demanding more contextualized experiences, it is becoming increasingly important for us to establish a more intrinsic connect with our potential and existing audience base across channels," said Viral Oza, Chief Marketing Officer, Lodha Group.

Kulmeet Bawa, MD, South Asia, Adobe, said: "Traditionally, real estate in India has been driven primarily by offline channels. But as technology increasingly becomes all pervasive, with buyers desiring swift, personalized and seamless cross-channel experiences from brands, it has become crucial for real estate players to integrate and leverage the power of technology in their strategies."

Bawa said the company's solutions would help Lodha Group in targeting accurate audience, acquiring new customers and engaging effectively with their existing customer base across channels.

Lodha Group clocked new sales of Rs 69.66 billion for FY16-17, and Rs 81.3 billion for FY 17-18. It has large land reserves in the Mumbai Metropolitan Region and has 39 ongoing projects across Mumbai Metropolitan Region, Pune and London.

The company completed 5,677 homes in FY 16-17 and 11,544 homes in FY 17-18.

Lodha Developers plans to hit the capital market with its initial public offer (IPO) to raise about Rs 55 billion. It had on July 6 received markets regulator Sebi's go-ahead for the IPO.

Reviving its IPO plan after eight years, the company had in April filed the draft red herring prospectus (DRHP) with the Sebi seeking approval to float an initial share-sale.

Lodha's IPO, if successful, would be the second biggest IPO in the real estate sector after DLF, that raised close to Rs 92 billion in 2007.