In an effort to meet the increased demand for plotted constructions and land investments, the house of Abhinandan Lodha, India’s first well-known land developer, plans to invest more than Rs 11,000 crore to buy & develop a land parcel across the nation over the next three to four years.
Over Rs. 3,500 crores, or one-third of the projected deployment, will be used to buy land parcels covering at least 3,000 acres in strategic places, with the remaining money going toward development and operations.
In an interview with ET, Abhinandan Lodha, MD, HoABL said, “We have succeeded in establishing a new segment of branded land & are attempting to take this beyond by making it more clear, liquid, & trustworthy through the use of technology. “The feedback to our projects to date has reaffirmed our conviction that there is a significant latent need for land investment and purchase.”
Since it began operations two years ago, the firm has introduced four projected developments in Goa, Anjarle, Dapoli, and Neral. It is on course to reach sales of Rs 1,000 crore by the end of 2022–2023. The corporation aims to increase its turnover in the upcoming fiscal year by twice its results in 2022–2023.
HoABL is a division of Lodha Ventures, which Abhinandan Lodha founded in 2016 as part of his second business venture.
With such a top-line of around RS 14,000 crore sustaining numerous plotted development releases in India, it has so far recruited over 5,400 new landowners to its customer base and hopes to increase this figure to over 55,000 in the next four years.
An investment budget of Rs 3,000 crores has been set out specifically for Uttar Pradesh over the next 4 years, of which Rs 1,200 crore would go to Ayodhya.
We have already purchased more than 480 acres of property in the current fiscal year, and we plan to purchase an additional 920 acres in 2023–2024. We intend to purchase 3,000–3,500 acres of land overall over the next 4 years,” Lodha stated.
The corporation intends to launch 11 development ventures in 2023–2024 after finishing four launches and their phases in the previous two years. Alibaug, a suburb of Mumbai, Goa, Ayodhya, Lonavala, and two additional Konkan locations are among the new project locations.
