gfiles magazine

December 20, 2013

EXPOSE | Operation Cover-Up

real estate lodha/mumbaih
Big boss of Indian Real Estate Market
Who is the ultimate big boss of Indian Real Estate market?
This question becomes all the more relevant at a time when the Indian real estate market is in the dumps, developers are reeling under a liquidity crunch and demand is spiraling downwards. At a time almost half of Mumbai's under-construction properties are going unsold, from where is the unlisted Lodha group getting all the money to buy all the prime real estate parcels. The manner in which Group has expanded from virtually zero to 35 million square feet of real estate with over 30 projects from Napean Sea Road to Dombivali in and around Mumbai- more than any other developer in sluggish Mumbai market- speaks volumes. This is by all means no small achievement for an unlisted company, not bound to make quarterly statistics public. For all you know, with Rs 14,500 crore worth of sales in the last 18 months alone, the Lodha Group may soon cross Rs 10,000 crore mark in net sales.... Read More

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