Mumbai, Nov. 5 -- Lodha Developers has entered the Delhi-NCR property market with the launch of Lodha Pantheon, a Grade A++ office project on Golf Course Road in Gurugram. The Mumbai-based real estate company plans to invest around Rs. 11-12 bn in the development, which has a saleable area of 400,000 sq ft across 27 floors.
The project is spread over 1.2 acres and will offer office spaces for sale. Its floor plates range from 13,000 sq ft to 15,000 sq ft and from 20,000 sq ft to 25,000 sq ft. The company said it had received a positive initial response from prospective customers.
Lodha Developers said demand for premium office space in Gurugram was being driven by businesses seeking to purchase workspaces instead of taking them on long-term leases. Golf Course Road, regarded as one of the city's prime commercial and residential locations, commands a premium in the local property market.
The company also plans to launch a housing project on Sohna Road in Gurugram during the fourth quarter of FY27. The commercial and residential developments are intended to help Lodha Developers assess the Delhi-NCR market before it considers a wider expansion in the region. The company had entered into a joint development agreement with MRG Group last year for two Gurugram projects.
Lodha Developers has a presence in the Mumbai Metropolitan Region, Pune and Bengaluru, where it sells properties under the Lodha brand. Its sales bookings increased 10 per cent to Rs. 50.37 bn in Q2 FY27, while bookings for the first six months rose 7 per cent to Rs. 96.7 bn. The company has set a full-year bookings target of Rs. 240 bn, compared with Rs. 205.3 bn in FY26.
Its consolidated net profit rose 28 per cent to Rs. 10.14 bn in the quarter ended September, from Rs. 7.9 bn a year earlier. Total income increased to Rs. 45.85 bn from Rs. 38.79 bn. Since its inception, the company has completed more than 100 mn sq ft across its projects.
Published by HT Digital Content Services with permission from Construction World.