Mumbai-based Lodha Developers is expected to launch its first real estate project in Gurugram, marking the company’s entry into the Delhi NCR market, Managing Director and CEO Abhishek Lodha has said. He also said that the company is exploring other areas of the NCR.
Gurugram real estate: Mumbai-based Lodha Developers is expected to launch its first real estate project in Gurugram, marking the company’s entry into the Delhi NCR market, Managing Director and CEO Abhishek Lodha has said. (HT Files)
Responding to a question on whether the company’s NCR strategy includes Gurugram, Noida, or both, Lodha said during the October 31 investor call that "At this stage, our initial focus is most likely to be in Gurugram, but it does not mean that we do not look at any other part of the NCR, but it's quite likely that we will perhaps start off on the Gurugram side of the NCR."
Abhishek Lodha also stated that the Gurugram real estate market is currently more than 50% of the NCR market.
"Gurugram is probably right now, more than 50% of the NCR market, and we are telling you that at the end of the decade, Palava and Upper Thane (near Mumbai) will be 3.5% of the Mumbai Metropolitan Region (MMR) market. So, you can see the scale of the opportunity versus where we currently are projecting things to be," Lodha said about the opportunities within the company’s MMR projects.