Lendlease Reports $1 Billion Loss in FY24 Amid Challenging Market

21 Aug 2024 CW Team

Lendlease, the Australian property and infrastructure giant, has reported a staggering $1 billion loss for the financial year 2023-24 (FY24). The company attributes this significant downturn to a combination of challenging market conditions, project delays, and cost overruns that have heavily impacted its financial performance.

The loss marks a difficult year for Lendlease, which has been grappling with rising construction costs and global economic uncertainties. These factors have led to delays in key projects and have eroded profit margins. The company?s urbanisation projects, which are typically high-return investments, have been particularly affected, with several developments facing setbacks due to supply chain disruptions and regulatory hurdles.

Lendlease's CEO acknowledged the challenging environment but reaffirmed the company?s commitment to its long-term strategic goals. The firm is focusing on streamlining operations and prioritising projects with strong return potentials to navigate through the tough economic landscape. Additionally, Lendlease plans to enhance its capital management strategies and explore divestment of non-core assets to improve its financial standing.

Despite the current financial strain, Lendlease remains optimistic about future opportunities. The company is banking on the recovery of global markets and the eventual stabilisation of supply chains to regain momentum. It is also looking to expand its presence in resilient sectors like infrastructure and renewable energy, which are expected to drive growth in the coming years.

The $1 billion loss in FY24 underscores the difficulties faced by global real estate and infrastructure firms in an increasingly volatile market, but Lendlease is positioning itself to overcome these challenges and achieve sustainable growth.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..