Page 3 - Lodha Group

Macrotech to invest Rs 3.8k cr in FY23 on realty projects' construction: MD

Asked about deliveries of projects, he said the company delivered 6,000 housing units last fiscal year and the target is 10,000 units for 2022-23

Macrotech Developers Q2 profit at Rs 223cr; total revenue jumps over 2-fold

Realty firm Macrotech Developers Ltd on Thursday reported its consolidated net profit at Rs 223.36 crore for the quarter ended September. The company had posted a net loss of Rs 362.58 crore in the year-ago period. Total income more than doubled to Rs 2,201.66 crore in the second quarter of this fiscal year from Rs 988.18 crore in the corresponding period of the previous year, the company said in a regulatory filing. Commenting on the results, Abhishek Lodha, Managing Director and Chief Executive Officer, Macrotech Developers Ltd said, Housing market in the last 9 months has gone from strength to strength." The long-term potential of housing as a wealth creator as well as an employment generator is now being well recognized by all stakeholders. "To capture this strong growth, in a short period of time since our IPO, we have been able to add 5 JDA (Joint Development Agreement) projects in the micromarkets of MMR and Pune where we have limited or no presence," Lodha said. The combi

Lodha Group ties up with Tata Power for EV charging infrastructure

Real estate developer Lodha Group has tied up with Tata Power to provide electric vehicle charging infrastructure at its residential and commercial projects.

Lodha group forms 4 JVs in Q1 for realty projects, eyes 2 JVs every quarter

Macrotech Developers, which sells properties under Lodha brand, has formed four JVs in April-June to build projects of Rs 3,500 crore, eyes two such tie-ups every quarter, a top company official

Macrotech Developers net debt falls 23% in Q1 to Rs 12,435 crore

Realty firm Macrotech Developers has reduced net debt by 23 per cent during the first quarter of this fiscal year to Rs 12,435 crore

Lodha sells 22-acre land parcel in Palava industrial park to Japanese firm

Palava Industrial and Logistics Park has now emerged as the preferred partner for companies looking for warehousing and industrial space solutions in Mumbai

Lodha Group's Rs 2,500-crore IPO subscribed 26% on Day 1

A day earlier, the company allotted shares worth Rs 740 crore to anchor investors

Lodha Developers plans to file DRHP for Rs 2,700-crore IPO this week

Lodha Group considered a listing in 2009 and 2018, but shelved the plan due to unfavourable market conditions

Lodha sells penthouse in London for £140 mn in most expensive deal of 2020

Name of buyer not revealed, per-square-foot rate works out to Rs 9 lakh

Calcutta HC division bench to hear Lodha plea in MP Birla case on Sept 24

Admitting the appeals, the bench directed that applications for a stay on the operation of the single bench verdict sought by the appellants will be taken up for hearing on Thursday

Lodha group says it sold 300 apartments across projects during lockdown

Developer claims 80 units were sold on Sunday (April 26) across its residential portfolio with a high preference for ready-to-move inventories

Lodha Group's UK subsidiary firm raises $200 million to pare debt

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 wholly-owned subsidiary of Mumbai-based Macrotech Developers (earlier known as Lodha Developers), closed its dollar bond-issue and raised USD 200 million in Senior Secured Notes maturing in 2023. Lodha Developers International launchedUSD 225 million bond-issue on February 27. The bonds will be listed on the Singapore Exchange. The proceedswill be used to fully repay its outstanding USD 324 million Senior Notes due on March 13, 2020, a company statement said. "We closed the bond raise of USD 200 million with leading global investors. Several existing investors increased their position. Bankers to the deal were JP Morgan, UBS and CLSA," said Macrotech Developers MD & CEO Abhishek Lodha. Many global investors, including Allianz, Citi, UBS, and ...

Lodha group's UK arm launches $225-million bond issue to refinance debt

The bonds will be listed on Singapore exchanges. JP Morgan, UBS and CLSA are the merchant bankers for the issue

Lodha Q3 sales booking up 30% at Rs 2K cr; to raise up to Rs 1,500 cr by selling commercial assets

In the first nine months of 2019-20, sales have reached around Rs 5,000 crore, up 15 per cent from the corresponding period of the previous year.

Lodha group arranges $325 mn to repay bonds maturing in March 2020

It has a total debt of over Rs 19,000 cr, of which Rs 17,000 cr is from India business and rest from London market, but Lodha exuded confidence that it would become net debt free in the next 2 years

Top 10 biz headlines: External benchmarking of rates, GST cut mooted & more

From RBI making it mandatory to link all fresh retail loans to an external benchmark to the FinMin crunching numbers to estimate revenue loss from GST rate cuts, here are today's top business news

Economic slowdown fallout: Realty major Lodha group lays off 400 employees

However, a spokesperson for the largest realty player in India attributed the lay-offs to performance reviews

15 years on, Birla and Lodha still splitting hairs over Priyamvada will

It all began in 2004, when the former chairman of Birla Corporation, Priyamvada Birla, died

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

The company would leverage the power of Adobe Experience Cloud solutions to expand its reach, drive enhanced customer experiences

Lodha group raises $125 mn to pre-pay debt, reduce interest expense

MD Abhishek Lodha said that its Indian debt stood at Rs 14,500 crore, while debt of London business was 300 million pounds