Lodha Group records highest ever quarterly sales

Realty major Lodha Group has reported the highest-ever quarter bookings of over Rs 2,500 crore in the quarter ended 31 December 2021, led by heavy demand in the mid-income and affordable segment.

The group noted revved-up demand for its luxury and premium homes, which clocked bookings of approximately Rs 1,000 crore in this segment. The company's mid-income and affordable business witnessed bookings of about Rs 1,500 crore in the quarter.

Lodha Group said the premium and luxury category saw a significant increase in interest, with the walk-ins at Lodha Luxury properties rising 20% higher than the pre-Covid levels. Consumers have shown a distinct inclination towards ready homes, said the company.

Increased demand for larger homes with the prevalent work-from-home culture, has also been witnessed by the company, wherein units with decks and gardens emerged as the best-performing segment.

The country's real estate sector hinted at recovery in the third quarter of fiscal 2021, led by low home loan interest rates, festive demand, discount offers from developers, and reduced stamp duty in various states.

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