Realty firm Lodha group's UK subsidiary on Thursday launched a $225 million-bond issue in the Singapore market to refinance part of its outstanding debt
Lodha currently has nearly 42 under-construction residential projects, including The World Towers and Lodha Park, comprising several high rises in central Mumbai, as well as affordable housing project.
My dream home will be a spacious space where my family and I can comfortably live and also occasionally entertain our friends.
Lodha Developers has emerged as the biggest player in Mumbai Metropolitan Region (MMR) with 18 percent market share in sales, its MD Abhishek Lodha said
Realty major Lodha Developers will soon file a draft prospectus with SEBI to launch its IPO to raise about Rs 5,500 crore mainly for repaying its debt
Tata Housing and Lodha Group are keen to own the multi-crore six-lane concrete road project that connects Greater Noida with Agra in Uttar Pradesh, reports said.
Mumbai came out as the preferred city with 38 individuals making the list, followed by New Delhi and Bengaluru with 19 and 17 individuals respectively, the statement said.
Lodha had appointed Bank of America Merrill Lynch and JP Morgan as bankers for the bonds, which would be issued by its subsidiary Lodha Developers International, Mauritius, with Lodha Developers International Holdings and another subsidiary, Palava Dwellers, as guarantors.
Nearly 75 per cent of the civil construction has been completed. The project is expected to be completed in 2016.
Even though Lavasa Corporation may have set the IPO wheel rolling, execution skills of the developer, his track record, visibility of earnings and the demand and price sustainability is what can prop up the realty market. And with investors demanding that IPO candidates hold a sizable number of assets and not too much debt, realty companies are in for a tough ride.
According to assurance, tax and advisory firm Grant Thornton, corporates in the country announced 458 deals in the January-November period amounting to USD 26.76 billion.
Realtors across India are in a do or die situation. From swanky and hip-sounding addresses to customized festival discounts, real estate developers are using unique, innovative schemes in a bid to clear a large portion of their housing inventory pile-up even they sit tight on declared prices.<br /><br />
Realty firm Lodha has planned an investment of over Rs 5,000 crore for developing residential and commercial real estate on the 17 acre land in the plush area of Worli in south Mumbai, which it bought from DLF last year.<br /><br />
Premium residential property developer Lodha plans to expand its presence in the sector by adding more malls to its profile.