NASHIK, Mar 8: The House of Abhinandan Lodha, which sells housing plots, aims 4.5 times jump in sale bookings to Rs 10,000 crore in 2028-29 on rising demand for plotted development projects, a top company official said.
Addressing a CREDAI conference here, company’s founder Abhinandan Lodha said it is set to clock sale bookings of Rs 2,200 crore during this fiscal, up by over 30 per cent from the preceding year.
The Mumbai-based company formed in 2021, has already launched many plotted development projects covering around 1,000 acres at 10 cities in Maharashtra, Goa and Uttar Pradesh.
“We are targeting 35 per cent growth in sale bookings next financial year,” Lodha said.
When asked about the long-term goal, he said the aim is to touch an annual Rs 10,000 crore sale bookings in 2028-29 fiscal year.
Lodha said the company sells plots only through online mode as this is helping the company scale up the business.
He said the company has identified 48 cities where it will be launching housing plots.
Lodha said the concept of land ownership will increase in coming years and the company is trying to address this demand by providing clean titled land with all approvals to its customers, who are end users as well as investors.
He said there is a huge potential in senior living projects and leased residential assets and hoped that these two segments will attract lot of institutional investment in coming years.
Lodha was speaking at 6th edition of the New India Summit organised by CREDAI during March 7-8.
In November last year, The House of Abhinandan Lodha had announced Rs 3,000 crore investment to expand its business in six new cities, including Amritsar, Varanasi and Vrindavan.
It acquired 352 acres of land across six cities — Amritsar, Vrindavan, Varanasi, Shimla, Nagpur and Khapoli near Mumbai. “We are entering into six new locations. We are committing Rs 3,000 crore investment in these new cities,” Lodha had said.
He said the demand for housing plots has been very strong post-Covid pandemic.
Many celebrities, including Amitabh Bachchan, have bought plots in its projects.
The House of Abhinandan Lodha is part of Lodha Ventures, which was established by Abhinandan Lodha.
The Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body of private real estate developers in India. It represents more than 13,000 developers across 230 city chapters in 21 states. (PTI)
The post House of Abhinandan Lodha aims Rs 10k cr pre-sales in FY29 on rising demand for housing plots appeared first on Daily Excelsior.