Lodha Group plans alliances for Rs 150-bn development projects
Real Estate

Lodha Group plans alliances for Rs 150-bn development projects

The Lodha Group’s listed entity Macrotech Developers expects to enter into alliances to undertake development projects with a combined gross development value of Rs 150 billion in the current financial year.

The company has already entered into three such partnerships in the June quarter to develop projects spread over 5.1 million square feet, with a gross development value of nearly Rs 62 billion.

“On the back of the strong attractiveness of our brand to land owners and therefore a robust pipeline of JDAs (joint development alliances), we expect to add new projects with a combined GDV of around Rs 150 billion in FY23,” said Abhishek Lodha, managing director and chief executive of Macrotech Developers.

Macrotech Developers has reported 190% on-year growth in net profit adjusted for foreign exchange for the quarter ended June at Rs 3.55 billion on the back of a 194% rise in pre-sales at Rs 28.14 billion.

The developer has recorded a 53% rise in collections at Rs 26.16 billion with 67% increase in revenue from operations at Rs 26.76 billion.

The company’s London investments continue to be on track towards repatriation of investment starting this financial year, helping strengthen cash flows.

See also:
Tech Park redefines office premises
This big builder enters Pune with a 2 billion investment


The Lodha Group’s listed entity Macrotech Developers expects to enter into alliances to undertake development projects with a combined gross development value of Rs 150 billion in the current financial year. The company has already entered into three such partnerships in the June quarter to develop projects spread over 5.1 million square feet, with a gross development value of nearly Rs 62 billion. “On the back of the strong attractiveness of our brand to land owners and therefore a robust pipeline of JDAs (joint development alliances), we expect to add new projects with a combined GDV of around Rs 150 billion in FY23,” said Abhishek Lodha, managing director and chief executive of Macrotech Developers. Macrotech Developers has reported 190% on-year growth in net profit adjusted for foreign exchange for the quarter ended June at Rs 3.55 billion on the back of a 194% rise in pre-sales at Rs 28.14 billion. The developer has recorded a 53% rise in collections at Rs 26.16 billion with 67% increase in revenue from operations at Rs 26.76 billion. The company’s London investments continue to be on track towards repatriation of investment starting this financial year, helping strengthen cash flows.See also: Tech Park redefines office premises This big builder enters Pune with a 2 billion investment

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?