Industry Real Estate Products Residential
Commercial Founder Mangal Lodha Revenue 2.5 billion USD (2015) Headquarters Mumbai | Area served India and U.K. Website www.lodhagroup.com Founded 1980 Net income 300 million USD (2015) Type Privately held company | |
Key people Abhishek Lodha, Managing Director Subsidiaries Lodha Quality Buildmart Private Limited | ||
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Lodha Group is a privately-held real estate developer based in Mumbai, India established in 1980. The company is among India’s top real estate companies known for its world-class commercial and residential properties. The majority of the properties are located in Mumbai. They also have a presence in Hyderabad, Pune and London.
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Company history
Lodha Group was established in 1980 by Mangal Prabhat Lodha. Abhishek Lodha, son of Mangal Prabhat Lodha is in charge of the company’s development in Mumbai.
Some known projects are Lodha Bellissimo, Mumbai’s first invite-only project, and The World Towers which includes World One that will be the tallest structure in the world.
The group has made several acquisitions including the Washington House property on Altamount Road from the American Government for Rs. 341.8 crores. Currently under construction, Altamount is from Lodha’s luxury collection, located at the world’s ten most expensive streets per sq.ft. price for properties.
In 2010, they recorded the biggest land deal in India to date by buying a plot for Rs. 4,053 crores from the Mumbai Metropolitan Region Development Authority, for developing a neighbourhood region called New Cuffe Parade.
In 2012, they recorded the biggest land deal in Mumbai’s prime location from DLF for approximately Rs. 2,700 crores. The group made its entry into United Kingdom by buying MacDonald House in Central London for 3,120 crores from the Canadian Government. The company also acquired a premium site near Covent Garden in Prime Central London that took their combined investment in the United Kingdom to roughly GBP 400 million.
In 2014, the group acquired an 88-acre plot of land from chemical producer Clariant for Rs. 1,154 crores in Thane in the Mumbai Metropolitan Region.
In August 2013, the company unveiled The Park, the 17.5-acre project located at Worli, Mumbai with Aishwarya Rai as the brand ambassador.
In March 2016, Lodha launched Amara, a 40-acre development in Thane with Bollywood couple Akshay Kumar and Twinkle Khanna as its brand ambassadors.
The group is also known for its development of Palava - India’s first greenfield smart city that is spread over 4,000 acres in Dombivli. To build and manage the smart city infrastructure at Palava, Lodha has partnered with IBM and General Electric. Palava was launched in 2014 with Amitabh Bachchan as its brand ambassador.