A total of 12,935 units were sold in 2023 against 7,395 in 2022, as large developers such as DLF, Sobha, Lodha, TARC, Max launched and sold apartments in this price bracket and beat the annual guidance.
Real estate developer Lodha, listed as Macrotech Developers, reported a 179% year-on-year increase in net profit to Rs 570 crore for the quarter ended December. The company s revenue from operations also rose 65% to Rs 2,930 crore. Lodha added three new projects during the quarter, with a gross development value potential of Rs 6,000 crores, exceeding its guidance of Rs 17,500 crores project addition for the year.
Lodha: The development at Palava City started in 2010, with phase 1 covering 300 acres that was sold out and delivered to nearly 20,000 families in 4-5 years.
The development at Palava City started in 2010, with phase 1 covering 300 acres that was sold out and delivered to nearly 20,000 families in 4-5 years. In 2014, the company started with phase 2 spanning 1,000 acres with over 75 million sq ft of developable area, of which over 20 million sq ft is complete. Currently, the project has nearly 175,000 residents.
Calling it a “milestone moment” for his company, HoABL chairman said they were thrilled to welcome Amitabh Bachchan as the “first citizen” of The Sarayu. | Mumbai news