HoABL enters vertical realty business, to invest Rs 2,500 crore
The House of Abhinandan Lodha (HoABL), a leading land developer, has officially announced its strategic entry into the vertical real estate sector with an investment of Rs 2,500 crore.
'Marking this foray are three marquee projects located across the length of Mumbai —American Culture Centre in Marine Lines, a project overlooking Chowpatty beach and a joint development agreement (JDA) with Mittal Builders in Naigaon,' the company said in a statement.
'With a collective development potential of 3.1 million sq ft, the company expects to generate revenue of Rs 3,500 crore, with a total investment of Rs 2,500 crore. All three projects are expected to be launched from Q2 of FY 2025–26 and would be completed over the next five years,' it added.
The funding would be through mix of internal accruals and debt for working capital and pre- sales, said Abhinandan Lodha, Chairman of HoABL.
'With our big bang foray into vertical development — from South Mumbai to North MMR — we aim to address gaps in vertical real estate through multiple projects,' he said.
Acquired in December 2024, the American culture centre project has a development potential of approximately 60,000 sq ft and is being developed as a commercial property.
The Chowpatty (South Mumbai) project, which has a development potential of around 50,000 sq ft, will be a premier residential project.
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