Abhinandan Lodha Group to invest Rs 110 bn for land acquisition

India's first branded land developer, House of Abhinandan Lodha (HoABL), plans to spend more than Rs 110 billion over the next three to four years to acquire and develop land parcels nationwide in an effort to meet the growing demand for plotted developments and land investments.The acquisition of land parcels covering at least 3,000 acres in important locations will account for one-third of the planned deployment, or more than Rs. 350,00 million, while the remaining funds will be used for development and operations.Abhinandan Lodha, MD of HoABL, stated to ET, We have managed to create a new category of branded land and are looking to take this further by making it more transparent, liquid, and trustworthy with the use of technology. Our belief that there is a significant latent demand for purchasing and investing in land has been bolstered by the responses to our projects thus far.Since it began operations two years ago, the company has launched four planned developments in Goa, Dapoli, Anjarle, and Neral, and it is on track to achieve sales of Rs 1,000 crore by the end of 2022 and 2023. The business intends to increase its turnover by 2.5 times its performance in 2022-23 in the following fiscal year. HoABL is a division of Lodha Ventures, which Abhinandan Lodha established in 2016 as his second venture into business ownership.With a top-line of more than Rs 140 billion supporting multiple plotted development launches across India, it hopes to grow its customer base from 5,400 to over 55,000 in the next four years.