Lodha Developers Aims to Boost Annuity Income to ₹3,000 Crore in Six Years
Lodha Developers plans to grow annuity income by 10 times to Rs 3,000 cr
The Economic TimesImage: The Economic Times
Lodha Developers plans to increase its annuity income tenfold to over ₹3,000 crore (approximately $360 million USD) within the next six years, primarily through investments in data centers, retail, and warehousing. The company has also reported a 24% rise in net profit for the last quarter, reaching ₹3,431 crore (about $410 million USD).
- 01Lodha Developers targets a tenfold increase in annuity income to ₹3,000 crore.
- 02The company plans to invest ₹13,000-15,000 crore in data center developments.
- 03Net profit rose 24% year-on-year to ₹3,431 crore for the quarter ending March.
- 04Lodha reduced net debt by ₹800 crore to ₹5,377 crore.
- 05The firm has a total gross development value of ₹2,00,000 crore available for sale.
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Lodha Developers, a prominent real estate firm in India, aims to grow its annuity income by 10 times to over ₹3,000 crore (approximately $360 million USD) over the next six years. This growth will be driven by investments in data centers, retail, warehousing, and select office developments. A significant portion of this income is expected from a 1 GW data center project at Palava, near Mumbai, which will be developed on a built-to-suit basis across 100 acres. The company plans to invest between ₹13,000-15,000 crore in this initiative, while also monetizing land parcels to support the project. Recently, Lodha Developers signed a Memorandum of Understanding with the Maharashtra government to establish a Green Data Centre Park in Palava, covering 400 acres. In its latest financial results, the company reported a 24% increase in net profit to ₹3,431 crore for the quarter ending March, with total revenue growing 21% to ₹16,680 crore. Despite geopolitical challenges, Lodha achieved record pre-sales of over ₹20,000 crore for the year, indicating strong market potential with only a 3.5% share in primary housing sales across India's top six cities. The company has also reduced its net debt by ₹800 crore to ₹5,377 crore, reflecting improved operational efficiencies.
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The planned investments in data centers and other developments are expected to create jobs and stimulate economic growth in the regions where Lodha operates.
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