Market share in Central Mumbai increases to 35% from 20% last year.
Mumbai, 10th Sep, 2019: Lodha, India’s largest residential real estate developer, announced that it has sold almost Rs. 3000 crores in the first 5 month of this fiscal year (April to August). At a time when auto sales have slowed more than 30% and housing is also under stress, Lodha’s performance is expected to bring confidence to the market in the run up to the festive season.
Prashant Bindal, Chief Sales Officer (CSO) of Lodha said “We are extremely pleased with our performance across price points. We have had very good sales in our affordable housing projects which now make up over 50% of our residential sales. In addition, our ready projects in Central Mumbai – Lodha Park and The World Towers, which are both ready to move in, are doing extremely well, contributing Rs. 600 crores to our sales in the first 5 months"
He elaborates, "Our market share in Central Mumbai has now reached 35%, up from 20% last year, due to the high quality of product that has been delivered by us. We are eagerly looking forward to the start of the festive season and expect to deliver additional Rs. 3000 crores of sales in the next 4 months till December and strengthen our leadership position as India’s No. 1 real estate developer.”
Jayesh Shah, one of the leading brokers in South Mumbai said “While the overall market is slow, sales are happening with large players who have a track record of delivery. With Lodha, there are no delivery concerns and hence, they seem to be selling well. Also their two large projects in Central Mumbai – Park and World Towers – have gotten OC, and due to the GST savings and readiness, sales seem to be strong in these projects.”
Another leading broker who requested confidentiality said “Lodha’s performance is very heartening because they are ensuring that the industry doesn’t collapse completely. They are building, selling, delivering, creating business for us and employment for people. While there are concerns about their debt, the fact is that the debt doesn’t affect their business performance.”
This reporter visited various projects including Palava and Lodha Park. Sitaram Marathe, a prospective home buyer at Palava said “I have been visiting various projects for last 3 months since my children are getting older and we need to move from a 1 bedroom to 2 bedroom. This is my third visit to Palava and I am buying today since my wife and children love the development and there is so many facilities, mall and schools. While other projects are promising they will deliver these, I can see it ready here. I am concerned about the traffic but the new metro line will help me get to work faster.”
Lodha currently has over 30 projects in the Mumbai Metropolitan Region and Pune, including Lodha Park at Worli, Lodha World Towers at Lower Parel, Lodha Amara in Thane and Palava near Navi Mumbai.
Lodha Pay is introduced to provide safe and secure, online payment option to our customers.<
A child’s environment plays a major role in their development because it includes the surroundi
A home is no longer just a substantial investment – it offers the security of a much deeper, mo
Here we take a look at the benefits of investing in real estate, the various sops available for w
When moving to a new city for employment, rather than buying a house people preferred renting a h
One of the finest locations in the city of Mumbai - South Central Mumbai is house to some of the
Owning a home is an essential priority for each individual and an aspiration that one desires to
During the last few decades, we have grown as a company, and a nation, at an unprecedented rate.
Over the past couple of years Mumbai has undergone a sea of transformation. With several key infr
The first commercial tower of Lodha Group’s Palava, recognized as India’s No.1 Liveable City*
RERA is an Act to establish a regulatory body for regulation and promotion of the real estate sec
With meticulous planning, attention to detailing, focus on quality & great craftsmanship we h
Shaishav Dharia, Regional CEO, Lodha Group, welcomes Ms. Ashima Bhat , Country Head - Finance, St
As the world of luxury has shifted away from a high price tag and brand/product-centricity and mo
With the new health and safety concerns, homebuyers are now giving more emphasis to the location
Lodha Group, India’s largest residential estate player, today announced that it will be launchi
With an emerging need for a low density living accompanied by the necessary social distancing mea
Mint’s Pivot or Perish webinar held last month focused on the impact of COVID-19
The right balance between nature and modern infrastructure has inspired people to live in one of
Amidst the uncertainty that has engulfed the world, we understand you maybe in two minds about pu
Aside from the obvious financial benefits of home ownership, there are also many social, psycholo
As we start thinking of living in the post-COVID world, there are diverse perspectives on how cit
With the world progressively adapting towards the post Covid-19 lifestyle, consumer needs are als
Since the outbreak of COVID-19 pandemic those staying on rent are left questioning their choice.
In these unexpected times where the country is facing simultaneous health and economic challenges
If you’re in the market looking to buy a house, it’s likely that you may have been charmed by
COVID-19 has made us realise the importance of owning a home. The sense of security and comfort d
A recent consumer research done by Lodha Developers with active home seekers in Mumbai region dur
At Lodha Group, our passion is to create landmarks that meet global standards. Every one of our d