According to a top company official, The House of Abhinandan Lodha, a real estate firm specialising in residential plot development, plans to invest Rs 18 billion this fiscal year on land acquisition and project construction as part of its expansion strategy. Formed in 2021 and based in Mumbai, the company has already launched nearly 10 plotted development projects spanning 650 acres across Maharashtra, Goa, and Ayodhya in Uttar Pradesh.

The Chairman, Abhinandan Lodha, highlighted that the demand for housing plots has surged following the Covid pandemic. He mentioned that over the past three years, the company has introduced more than 6,000 plots and intends to launch an additional 2,000 plots by the end of the current calendar year.

Regarding the investment plan for the fiscal year 2024-25, Lodha stated that the total capital expenditure is estimated to be around Rs 18 billion, with Rs 5.5 billion allocated for construction and the remainder for land acquisition. He also noted that the company is net debt-free and will finance this expenditure through internal accruals.

Lodha elaborated on the expansion plan, revealing that the company has identified 48 cities across India with significant potential for plotted development due to existing or upcoming infrastructure projects and increased tourism. The company is set to launch housing plots in cities such as Amritsar, Varanasi, and Shimla.

Reflecting on the company?s progress, Lodha described the past three years as "quite tremendous," citing the launch of approximately 650 acres of housing plots and the delivery of 150 acres. He mentioned that the company?s first development, which began in April 2021, was a 100-acre project in Dapoli, Maharashtra. As a technology-driven company, it markets its properties online globally, with very few customers visiting sites before making a purchase.

Lodha also shared that several celebrities, including Amitabh Bachchan, have purchased plots from the company's projects, and noted that these projects typically sell out within weeks of their launch. The price range for plots has varied from Rs 10 lakh to Rs 15 crore, depending on location. He emphasised that land in India, when held properly with clear possession, title, and goals, is a valuable asset. Promoting land as an asset class has been a core theme of the company.

The company has delivered two projects to date: the first at Dapoli and another 18-acre development in Goa. The House of Abhinandan Lodha is a part of Lodha Ventures, which was established by Abhinandan Lodha after his departure from Macrotech Developers (formerly Lodha Developers). Abhishek Lodha, his elder brother, manages the listed entity Macrotech Developers under the Lodha brand. Abhinandan Lodha clarified that while the names may sound similar, House of Abhinandan Lodha is distinct from Macrotech Developers, highlighting the clear branding distinction between the two entities.