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HoABL to build high rises in Mumbai; to invest ₹2.5K cr across 3 projects
Branded land developer, The House of Abhinandan Lodha (HoABL), on Wednesday announced its foray into the vertical real estate sector, with the construction of three marquee projects located across Mumbai.
With a collective development potential of 3.1 million square feet, the company expects to generate revenue of ₹3,500 crore, with an of ₹2,500 crore.
The upcoming three high-rise projects are located across the length of the Mumbai-American Culture Centre in Marine Lines, a project overlooking Chowpatty Beach, and a Joint Development Agreement (JDA) with Mittal Builders in Naigaon.
All three projects are expected to be launched from the second quarter of 2025-26, and is expected be completed over the next five years, the company said.
The company has been conducting planned plotted developments and villas in Mumbai, Maharashtra, Uttar Pradesh, and Goa.
The funding would be done through a mix of internal accruals and debt for working capital and pre-sales.
"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 that prioritise timely delivery, premium lifestyles, customer centricity and modern infrastructure designed around the needs of today's home buyers,' Abhinandan Lodha, chairman of HoABL, said.
In vertical real estate, the company will be operating in the affordable and super-premium segments in cities like Amritsar, Vrindavan, and Nagpur, apart from Mumbai. The company has a land bank of 1,200 acres across India and 3 msf in Mumbai.
The company acquired the former American Culture Centre's existing structure with a ground floor and seven-storey spread across 1,337.81 square meters in December 2024 for ₹56 crore. The property will be developed for commercial purposes and has a development potential of 60,000 sq ft.
Meanwhile, the planned project at Chowpatty in South Mumbai has a development potential of around 50,000 sq. ft. This will be a premier residential development.
The project in Naigaon (Western Mumbai) is being designed as a well-integrated township with a development potential of over 3 msf and will be developed on a revenue-sharing model.
HoABL has delivered over 15 msf of land and has another 39 msf of land under active development. Its horizontal real estate business has grown at a compound annual growth rate of 30 per cent for the last five years. It aims to be present in 48 locations across India by FY30.
Lodha also stated that the company doesn't see any need to go public but may explore equity participation at the project level.
In January 2025, Macrotech filed a lawsuit against HoABL before the Bombay High Court over the use of the brand name 'Lodha', seeking ₹5,000 crore in damages. However, the dispute was recently resolved through mediation.
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