New Delhi, Feb. 15 -- Lodha Developers Ltd, one of the leading real estate companies in India, said it has bought an 80% stake in Pune-based Solidrise Realty Pvt Ltd (SRPL) for Rs.294 crore.

In a regulatory filing, the Mumbai-based company said it has entered into a share purchase pact to acquire 80% stake in Solidrise Realty. The cost of acquisition is Rs.294.07 crore.

Following the deal, SRPL will become a subsidiary of Lodha Developers. So far, Lodha has developed more than 100 million sq ft area. It sells properties under Lodha brand.

The firm has a strong presence in Mumbai Metropolitan Region (MMR), Pune, Bengaluru housing markets. It recently entered the Delhi-NCR residential market.

Lodha Developers reported a 1% growth in con...