HoABL forays into Mumbai real estate market with the launch of three vertical projects, to invest ₹2500 crore
The House of Abhinandan Lodha (HoABL) on April 23 announced its foray into the Mumbai real estate market with the launch of three vertical development projects, backed by an investment of nearly ₹2,500 crore. The projects include an American Culture Center in Marine Lines, a development overlooking Chowpatty Beach, and a Joint Development Agreement (JDA) with Mittal Builders in Naigaon.
With a collective development potential of 3.1 million sq. ft., the company expects to generate a revenue of ₹3,500 crore. All three projects are expected to be launched from Q2 FY 2025–26 and would be completed over the next five years, the company said.
The funding would be through a mix of internal accruals and debt for working capital and pre-sales, Abhinandan Lodha, chairman of HoABL told reporters, adding the company does not expect to take a debt in excess of ₹250 crore to ₹300 crore.
'We initially chose to explore the horizontal development space, as it was a largely untapped segment with significant potential for innovation. Having successfully established our brand there, we now believe we can bring the same level of innovation and consumer-centric approach to vertical developments. With approvals already secured for two projects, we felt this was the right time to enter the vertical space. While we're in discussions for several land parcels, we currently see strong opportunities in both the ultra-premium and affordable housing segments—areas that offer substantial room for innovation in both consumer experience and construction,' he said.
He said that construction for the projects will start by December 2025.
The company also aims to replicate its vertical development model in other cities like Amritsar, Nagpur, and Vrindavan—locations that align well with the township concepts it is developing. 'We believe technology, customer-centricity, and innovation are key to delivering on this vision. The gap is especially evident in the affordable housing and super luxury segments,' he said.
The overall landbank of HoABL in Mumbai is around 3 mn sq ft. 'We hope to keep expanding as the right opportunity presents itself,' he said.
The three vertical assets in Mumbai have a GDV of ₹3700 crore and that is 'a sizable amount to start with and get our development cycle moving. The commercial development will be an iconic development in Mumbai and automatically lend itself to tenants of its nature. The total commitment in terms of project cost is ₹2500 crore,' he said.
He said that the company will continue to expand its horizontal business.
'We plan to maintain our targeted growth rate of 30% CAGR annually and aim to continue this momentum in the foreseeable future. While we're still in the early stages, we see tremendous potential to scale rapidly. Our goal is to reach a point within the next two to three years where revenues from vertical and horizontal developments are on par,' he said.
The American Culture Center, Marine Lines (South Mumbai), was acquired in December 2024 . This is a ground + 7-storey structure spread across 1,337.81 sq. m., with views of Mumbai harbour to the east and Marine Drive to the west. This project has a development potential of approximately 60,000 sq. ft. and is being developed as a commercial property.
Also Read: Lodha versus Lodha: Real estate tycoons settle trademark dispute through mediation
Chowpatty in South Mumbai enjoys views of Marine Drive and has a development potential of around 50,000 sq. ft. This will be a premier residential development.
Naigaon in Western Mumbai is being designed as a well-integrated township with a development potential of over 3 million square feet and features high-rise residential towers alongside high-street retail.
The House of Abhinandan Lodha is a branded land developer. The company has a fully digital sales model and has delivered over 15 mn sq ft of land in less than five years. It has another 39 mn sq.ft. of land under active development. These four plotted developments are located in Anjarle, Dapoli, Neral and Goa.
The company has also launched plotted developments in Alibaug, Khopoli, Nagpur and Ayodhya and has launches planned in Amritsar, Shimla, Vrindavan and Varanasi. It aims to be present in 48 locations across the country by FY 2030.
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