Lodha Group

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LODHA Group
Private
Industry Real Estate
Founded 1980
Founder Mangal Prabhat Lodha
Headquarters Mumbai, India
Area served
India and U.K.
Key people
Abhishek Lodha, Managing Director
Products
Revenue $2.5 Billion (2015)
$300 Million (2015)
Website www.lodhagroup.com

Lodha Group is a privately-held real estate developer based in Mumbai, India established in 1980. The company is among India’s top real estate companies known for its world-class commercial and residential properties.[1] The majority of the properties are located in Mumbai. They also have a presence in Hyderabad, Pune and London.[1][2]

Company history[edit]

Lodha Group was established in 1980 by Mangal Prabhat Lodha. Abhishek Lodha, son of Mangal Prabhat Lodha is in charge of the company’s development in Mumbai.[3]

Some known projects are Lodha Bellissimo, Mumbai’s first invite-only project, and The World Towers which includes World One that will be the tallest structure in the world.[4][5]

The group has made several acquisitions including the Washington House property on Altamount Road from the American Government for Rs. 341.8 crores.[6] Currently under construction, Altamount is from Lodha’s luxury collection, located at the world’s ten most expensive streets per sq.ft. price for properties.[7]

In 2010, they recorded the biggest land deal in India to date by buying a plot for Rs. 4,053 crores from the Mumbai Metropolitan Region Development Authority, for developing a neighbourhood region called New Cuffe Parade.[8]

In 2012, they recorded the biggest land deal in Mumbai’s prime location from DLF for approximately Rs. 2,700 crores.[9] The group made its entry into United Kingdom by buying MacDonald House in Central London for 3,120 crores from the Canadian Government.[10] The company also acquired a premium site near Covent Garden in Prime Central London that took their combined investment in the United Kingdom to roughly GBP 400 million.

In 2014, the group acquired an 88-acre plot of land from chemical producer Clariant for Rs. 1,154 crores in Thane in the Mumbai Metropolitan Region.[11]

In August 2013, the company unveiled The Park, the 17.5-acre project located at Worli, Mumbai with Aishwarya Rai as the brand ambassador.[12]

In March 2016, Lodha launched Amara, a 40-acre development in Thane with Bollywood couple Akshay Kumar and Twinkle Khanna as its brand ambassadors.[13][14]

The group is also known for its development of Palava - India’s first greenfield smart city that is spread over 4,000 acres in Dombivli.[15] To build and manage the smart city infrastructure at Palava, Lodha has partnered with IBM and General Electric.[16] Palava was launched in 2014 with Amitabh Bachchan as its brand ambassador.[17]

Projects[edit]

Construction projects undertaken by Lodha Group
Type of project Name of project Location
Residential Lodha Bellissimo[18] Mahalaxmi, Mumbai
Residential Lodha Aria[19] Parel, Mumbai
Residential Lodha Aqua[20] Dahisar, Mumbai
Residential Lodha Eternis Andheri East, Mumbai
Residential Lodha Luxuria Majiwada, Thane
Residential Lodha Aristo Thane, Mumbai
Residential Lodha Aurum Kanjurmarg, Mumbai
Residential Lodha Goldcrest Lonavala
Residential Lodha Imperia Bhandup, Mumbai
Residential (under construction) Casa Bella[21] Palava, Dombivali
Residential (under construction) World One[22] Lower Parel, Mumbai
Residential (under construction) Lodha Fiorenza[23] Goregaon, Mumbai
Residential (under construction) New Cuffe Parade[24] Wadala, Mumbai
Residential (under construction) Lodha Splendora Thane
Residential (under construction) Lodha Venezia Parel, Mumbai
Residential (under construction) Lodha Primero Mahalaxmi, Mumbai
Residential (under construction) Lodha Aurum Grande Kanjurmarg, Mumbai
Residential (under construction) Lodha Grandezza Thane
Residential (under construction) Lodha Belmondo Pune
Residential (under construction) Lodha Bellezza[25] Hyderabad
Residential (under construction) Trump Tower Mumbai[26] Worli, Mumbai
Residential (under construction) The Park Worli, Mumbai
Residential (under construction) Lodha Altamount Altamount Road, Mumbai
Commercial Lodha Excelus[27] Mahalakshmi, Mumbai
Commercial iThink by Lodha[28] Thane
Commercial Lodha Supremus[29] Worli, Mumbai
Commercial Lodha Boulevard Thane
Commercial (under construction) Lodha Supremus[30] Powai, Mumbai
Shopping Mall (under construction) Lodha Experia Palava, Dombivali

Architects and Partners[edit]

Since its establishment, Lodha has worked with several designers, architects and consultants for their projects. The company is notable for bringing top global names like Armani/Casa,[31] Trump,[32] Philippe Starck, Jade Jagger,[33] Kelly Hoppen,[34] Greg Norman Golf Course Designers to India.[35]

To be among the world’s top real estate developers, the company has partnered with renowned architects and engineers namely WOHA, Singapore,[36] Kapadia Associates, P Landscape, Barker Mohandas, Buro Happold, Arup, Singapore, Sterling Engineering Consultancy Pvt. Ltd and several others.[37]

In September 2007, Deutsche Bank invested Rs. 1,640 crores by subscribing to the company’s compulsorily convertible debentures of Lodha’s subsidiary Cowtown Land Development.[38]

In May 2016, Piramal Fund Management invested Rs. 425 crores for the company’s Azzuro project which is a residential property in Parel, Mumbai.[39]

Social Initiatives[edit]

Corporate social responsibility is undertaken by the Lodha group’s social initiative wing- Lodha Foundation. Established in the year 2007, Lodha Foundation’s focus areas include health, education and livelihood development. These developmental initiatives are undertaken primarily in the Kalyan-Dombivli region of Mumbai. Manju Lodha, wife of Mangal Prabhat Lodha, serves as the chairperson of the foundation.[40]

The group set up two branches of Chandresh Lodha Memorial School in Dombivli and Nalasopara that provides schooling to over 5,000 students from low income families. The company also provides yearly scholarships to over 1,000 students from economically disadvantaged backgrounds. Apart from these, they have mentorship and career guidance programmes and English speaking classes for youth and homemakers in certain areas.

Nirogi Mahila Abhiyan is a free medical check-up camp that was established for women and adolescent girls living in the slums of Mumbai. These camps provide health services to close to 50,000 women every year. The company also frequently organises health check-ups for children studying in government aided schools.

The Lodha foundation has also undertaken a massive cleanliness drive to clean spaces in Mumbai. Till date the foundation has cleaned over 500 house gullies and also provided fogging machine services to ensure that citizens live in hygienic conditions. The company’s initiatives include the use of solar power and rainwater harvesting at various locations, tree plantation and recycling of freshwater at all developments.

Along with providing support and relief work during natural calamities, The Lodha foundation also strives to promote art, culture, religion and patriotism.

These activities are at odds with their public advertising campaigns, particularly the 2016 "Find Your Kingdom" campaign.

References[edit]

  1. ^ a b Kamath, Raghavendra (18 December 2015). "Lunch with BS: Abhishek Lodha" – via Business Standard. 
  2. ^ "Lodha bets big on Central London, Canadian Embassy is just the first stop - Firstpost". 29 November 2013. 
  3. ^ "Lodha - About Us - Board of Directors". 
  4. ^ Kamath, Raghavendra (15 June 2010). "The rise and rise of Abhisheck Lodha" – via Business Standard. 
  5. ^ Announcement (23 September 2009). "Construction World Award: Lodha Developers among top 10 Builders" – via Business Standard. 
  6. ^ "Prime Altamont Road property of US consulate sells for Rs 342 crore - Times of India". 
  7. ^ "Mumbai's Altamount Road among world's most costliest - Times of India". 
  8. ^ Reporter, B. S. (26 May 2010). "Lodha secures Mumbai land for Rs 4,053 cr" – via Business Standard. 
  9. ^ PTI (13 August 2012). "DLF sells 17 acres Mumbai land to Lodha for Rs 2,700 cr". 
  10. ^ "Lodha Group buys MacDonald House for Rs. 3,120 crore". 30 November 2013 – via The Hindu. 
  11. ^ "Clariant Chemicals Completes Rs 1,154-Cr Land Deal With Lodha - NDTV". 
  12. ^ "Aishwarya Rai to endorse Lodha's Worli project - The Economic Times". 
  13. ^ www.ETRealty.com. "Akshay Kumar and Twinkle Khanna to endorse Lodha Group's Amāra - ET RealEstate". 
  14. ^ Menon, Bindu (28 March 2016). "Lodha launches new project 'Amāra'". 
  15. ^ http://www.prnewswire.co.in/news-releases/mumbai-real-estate-shows-signs-of-pickup---homes-worth-more-than-rs1600-crores-sold-in-pre-launch-at-LODHAs-new-thane-project-571962311.htm
  16. ^ D’Monte, Leslie (29 June 2016). "Giving smart cities a technological edge". 
  17. ^ http://www.mumbaipropertyexchange.com/blog/amitabh-bachchan-becomes-first-citizen-LODHA-group-palava-city-dombivali
  18. ^ Kamath, Raghavendra (15 June 2010). "The rise and rise of Abhisheck Lodha". Business Standard. Retrieved 25 December 2013. 
  19. ^ Chandrasekharan, Gitanjali (18 November 2013). "Missing pin code". Pune Mirror. Retrieved 25 December 2013. 
  20. ^ Krishnamoorthi, Janaki (15 January 2011). "Designer Dwellings". Times of India. Retrieved 25 December 2013. 
  21. ^ Dey, Sudipto (26 June 2010). "Big Deal". Outlook (magazine). Retrieved 20 December 2013. 
  22. ^ Defterios, John (17 December 2013). "India: Where politics and property collide". CNN. Retrieved 20 December 2013. 
  23. ^ Thakur, Pooja (18 February 2011). "Jagger's Daughter, Jade, to Design Homes in Mumbai". Bloomberg News. Retrieved 22 December 2013. 
  24. ^ Chadha, Sunainaa (29 November 2013). "Lodha bets big on Central London, Canadian Embassy is just the first stop". First Post (India). Retrieved 22 December 2013. 
  25. ^ Lodha Bellezza - Kukatpally, Hyderabad, Location
  26. ^ "New Mumbai Trump Tower will offer residents a private jet service". Retrieved 2016-07-08. 
  27. ^ Singh, Gurbir (5 September 2010). "Realty Politik". BusinessWorld. Retrieved 20 December 2013. 
  28. ^ "Lodha Group to invest Rs 2,000 cr in iThink realty brand". Daily News and Analysis. 23 July 2007. Retrieved 25 December 2013. 
  29. ^ "Lodha creates new corporate landmark: Lodha Supremus at Upper Worli". Business Standard. 22 April 2010. Retrieved 25 December 2013. 
  30. ^ "Lodha Developers launches Lodha Supremus at Kanjur Marg". Business Standard. 9 September 2010. Retrieved 1 January 2014. 
  31. ^ http://articles.economictimes.indiatimes.com/2012-02-01/news/31013045_1_queensland-number-one-LODHA-group-abhisheck-LODHA
  32. ^ Reporter, B. S. (18 September 2013). "Donald Trump back in Mumbai, this time with Lodha Group" – via Business Standard. 
  33. ^ TNN. "Jade Jagger on Designing Luxury Homes in Mumbai". 
  34. ^ "British interior designer-to-the-stars Kelly Hoppen comes to India". 
  35. ^ Group, Lodha. "Lodha Group Launches 'The Reserve' at Lodha Belmondo /PR Newswire India/". 
  36. ^ "WOHA plans new cuffe parade development in mumbai". 20 March 2014. 
  37. ^ tendernews; tendernews. "tendernews lodha developers belonging to the lodha group is constructing the `lodha supremus` a commercial complex 20 floors at powai dist. mumbai suburban maharashtra. kapadia associates is the design architect buro happold engineers india is the mep consultant and ramboll india is the structural consultant. the project willprovide space for signature boutique offices. each floor has a flexible plan that can accommodate up to 9 offices beginning from 1500 sqft combinable up to 19500 sqft. the complex will have amenities like rain water harvesting waste water recycling 5 levels of parking space. civil work is in progress. the project isscheduled for completion in december 2014. info as of: aug. `14lodha developers belonging to the lodha group is constructing the `lodha supremus` a commercial complex 20 floors at powai dist. mumbai suburban maharashtra. kapadia associates is the design architect buro happold engineers india is the mep consultant and ramboll india is the structural consultant. the project willprovide space for signature boutique offices. each floor has a flexible plan that can accommodate up to 9 offices beginning from 1500 sqft combinable up to 19500 sqft. the complex will have amenities like rain water harvesting waste water recycling 5 levels of parking space. civil work is in progress. the project isscheduled for completion in december 2014. info as of: aug. `14lodha developers belonging to the lodha group is constructing the `lodha supremus` a commercial complex 20 floors at powai dist. mumbai suburban maharashtra. kapadia associates is the design architect buro happold engineers india is the mep consultant and ramboll india is the structural consultant. the project willprovide space for signature boutique offices. each floor has a flexible plan that can accommodate up to 9 offices beginning from 1500 sqft combinable up to 19500 sqft. the complex will have amenities like rain water harvesting waste water recycling 5 levels of parking space. civil work is in progress. the project isscheduled for completion in december 2014. info as of: aug. `14lodha developers belonging to the lodha group is constructing the `lodha supremus` a commercial complex 20 floors at powai dist. mumbai suburban maharashtra. kapadia associates is the design architect buro happold engineers india is the mep consultant and ramboll india is the structural consultant. the project willprovide space for signature boutique offices. each floor has a flexible plan that can accommodate up to 9 offices beginning from 1500 sqft combinable up to 19500 sqft. the complex will have amenities like rain water harvesting waste water recycling 5 levels of parking space. civil work is in progress. the project isscheduled for completion in december 2014. info as of: aug. `14 project projects from india (maharashtra) project". 
  38. ^ Reporter, B. S. (10 February 2012). "Deutsche Bank exits Lodha investment" – via Business Standard. 
  39. ^ Reporter, B. S. (23 May 2016). "Piramal Fund Management invests Rs 425 crore in Lodha Project" – via Business Standard. 
  40. ^ ladleinfo.com. "www.ladleinfo.com - Manju Lodha (Lodha Charitable Trust)".