Lodha Developers remains the largest developer in India on pre-sales done per year. Management expects to cross Rs65 bn of sales in FY2016, maximum of which is from the MMR. Focus remains high on deliveries. Lodha has nearly 3,900 employees with 50% of these being technical (engineers, construction management experts). Construction spend has increased from Rs19 bn in FY2013 to nearly Rs24 bn in FY2015. As per the management, Lodha has over 700 engineers, the highest for any developer in India and has the largest Customer Relationship Management (CRM) team of over 300 people. Focus on pre-sales is high, both through in-house and broker channel (over 4,000 brokers empaneled in India).
Lodha Developers & Builders Land Bank
Although total land bank is around 6,000 acres (most of it part of the Palava City development); Lodha wants to remain asset light in land strategy in Mumbai. Most land parcels in Mumbai are acquired in the past five years and already under development.
Business is divided into (a) Development of 4,500 acre Palava City in MMR (Phase-2 of 660 acres under development with Phase-1 of 270 acres delivered), (b) Development of marquee residential projects in upmarket locations (The World Place, The Park in Lower Parel, Mumbai and The Altamount, Altamount Road, Mumbai), (c) Development of premium residential projects across Mumbai suburbs (six projects under-development).
Lodha is also developing select projects in Pune, Hyderabad and London. They also intend to increase focus on commercial (Build-and-lease model) and are planning nearly 6 mn sq. ft of commercial space in Palava City. 0.5mn sq. ft of mall will be operational this year.
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