Lodha Poised to Surpass INR 17,500 Crore Target This Financial Year

Macrotech Developers, more commonly known as Lodha, is on course to outperform its own forecasts for 2023-2024.

The Indian real estate industry is excited as the real estate giant is on track to surpass its projected gross development value (GDV) of INR 17,500 crore for FY24 in just the first half of the fiscal year.

Abhishek Lodha, the company's managing director, has indicated that they've already incorporated projects worth over INR 14,300 crore, which is a significant portion of their annual target.

Lodha's rapid growth can be attributed to its innovative 'supermarket' strategy. This strategy entails introducing a new development every 3 to 5 kilometers in prime property regions like Mumbai and Pune.

Abhishek Lodha shared the reasoning behind this approach, mentioning that most Indian consumers prefer to stay within a 3-5 km radius of their current residences.

A great September 2023

Their expertise is further highlighted by the fact that Lodha added projects covering 1.2 million square feet in the September quarter, valued at a substantial INR 2,300 crore. This was in addition to the five projects introduced during the June quarter, with an estimated value of INR 12,000 crore.

Impressively, without launching in new locations, Lodha registered its highest-ever pre-sales, reaching INR 6,890 crore, during the first half of FY24. This achievement underscores their capacity to drive sales and maintain growth, independent of specific market segments or locations.