Economic slowdown impact: Top realty player Lodha Group lays off 400 people amid rising debt, falling sales
5 years, 4 months ago

Economic slowdown impact: Top realty player Lodha Group lays off 400 people amid rising debt, falling sales

Firstpost  

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. Mumbai: Amidst rising debt which has crossed Rs 25,600 crore, and falling sales, Macrotech Developers, formerly Lodha Group, has given pink slips to around 400 employees. The Lodha group company was downgraded with a negative outlook by two global rating agencies last month, Moody’s Investors and Service and Fitch Ratings on concerns on liquidity and falling sales. 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 like the Palava City.

Mumbai Crore Lodha Central Mumbai Lodha Group Falling Sales Group Lays  sales  realty  slowdown  company  lodha  rating  crore  including  nearly  player  mumbai  group  lays  layoffs  impact  rs  rising  projects  falling

History of this topic

Macrotech Developers reports pre-sales of over ₹4,500 crore in Q3FY25, adds new project in Bengaluru
3 days ago

Macrotech Developers reports pre-sales of over ₹4,500 crore in Q3FY25, adds new project in Bengaluru

Hindustan Times  

Macrotech Developers, also known as Lodha, on January 6 reported pre-sales of over ₹4,500 crore in the third quarter of the ongoing financial year 2024-25, a 32% YoY growth from over ₹3,400 crore during the same period last year. Macrotech Developers, also known as Lodha, on January 6 reported pre-sales of over ₹ 4,500 crore in the third quarter of …

Macrotech Developers buys a 2.82-acre land parcel for ₹110 crore in Pune from Paranjape Schemes
1 month, 4 weeks ago

Macrotech Developers buys a 2.82-acre land parcel for ₹110 crore in Pune from Paranjape Schemes

Hindustan Times  

Mumbai-based listed real estate developer Macrotech Developers, also known as Lodha Group, has purchased a 2.82 acres land parcel in Hinjewadi area of Pune for ₹110 crore, according to property registration documents accessed by CRE Matrix. Mumbai-based listed real estate developer Macrotech Developers, also known as Lodha, has purchased a 2.82 acres land parcel in Hinjewadi. Lodha entered the Pune …

Macrotech’s FY25 pre-sales growth goal on firm ground but not without challenges
8 months, 1 week ago

Macrotech’s FY25 pre-sales growth goal on firm ground but not without challenges

Live Mint  

Macrotech Developers Ltd investors are in a happy place. Lodha plans to launch 17 projects/phases spanning 10 million square feet with a gross development value of around ₹12,100 crore in FY25. From its newly forayed markets of Pune and Bengaluru, Lodha is targeting nearly ₹4,000 crore pre-sales in FY25. The recent fund-raise via qualified institutional placement coupled with robust cash …

Macrotech Developers sets strong foundation for the new fiscal year
1 year, 6 months ago

Macrotech Developers sets strong foundation for the new fiscal year

Live Mint  

New Delhi: Macrotech Developers Ltd impressed the Street with its robust pre-sales or bookings for the June quarter. View Full Image Graphic: Mint The company also added five new projects with gross development value potential of ₹12,000 crore across different micro-markets. For perspective, Lodha’s full year guidance for new project additions is ₹17,500 crore. “The company’s business development GDV in …

DLF sells 376 completed flats worth Rs 700 cr in Gurugram housing project; says real sector facing demand slowdown
5 years, 2 months ago

DLF sells 376 completed flats worth Rs 700 cr in Gurugram housing project; says real sector facing demand slowdown

Firstpost  

According to an investor’s presentation, DLF’s net sales bookings stood at Rs 705 crore in the June quarter New Delhi: Realty major DLF on Sunday said it has sold 376 ready-to-move-in luxury flats worth Rs 700 crore on the first day of the launch of its new housing project in Gurugram, even as the overall property market is facing a …

Lodha Developers battles bond slump amid India cash crunch
5 years, 6 months ago

Lodha Developers battles bond slump amid India cash crunch

Live Mint  

Mumbai: India’s property tycoon Mangal Prabhat Lodha’s company just can’t catch a break in the bond market as liquidity risk has roared back amid stress in the sector. Lodha Developers International Ltd.’s 2020 dollar-denominated notes have fallen to a record low this month, according to Bloomberg prices going back to August 2016. The developer’s 12% notes have slumped more than …

Discover Related