Lodha Developers changes NCD terms, investors to get early interest payment
Investors will continue to get 9.5% interest on NCDs worth Rs 495 crore after completion of the moratorium period04-01-2019
04-01-2019
Signs of stress: As fund flows dry up, Lodhas to sell assets to cut debt
To make matters worse, the IL&FS crisis also coincided with a weak stock market - leading to Lodha Developers dropping its share sale plan.06-12-2018
Lodha Developers to raise Rs5000 crore, wind up UK business
Lodha's exit from its under-construction London projects would mean that the developer will now solely focus on its domestic projects, which are mainly located in Mumbai Metropolitan Region28-11-2018
Lodha expects mid-income housing projects to account for 50% of its sales in 2018-19
Mumbai-based Lodha Developers, India's largest residential developer by sales, expects its housing business in the 35 lakh-1 crore segment to grow significantly faster than other verticals over the next 2-3 years15-11-2018
Lodha Developers likely to reduce size of its IPO
Promoters were seeking a valuation of 33,000-35,000 crore from the Lodha Developers IPO, which has now been reduced to 26,000-28,000 crore30-08-2018
Lodha Developers' net profit rises 32% to Rs 7.9 bn due to high sales
Lodha Developers' total income was higher than that of DLF, which posted Rs 76.64 billion income during the previous fiscal23-07-2018
Lodha Developers IPO: About the Offering
Mumbai based Lodha Developers Limited was incorporated in 1995 and is engaged in the business of real estate development. According to Liases Foras, it was the largest real estate developer in India by residential Sales in 2017. The company develops real estate across the residential and commercial sectors in the Mumbai Metropolitan Region (the "MMR"), Pune and London. In the residential sector, it develops properties with unit values ranging from Rs 3.5 million to Rs 590 million. In the commercial sector, it develops office and retail projects on lease model and sale model. Lodha Developers focuses on branded realty and owns multiple brands including "CASA by Lodha" for affordable housing, the "Lodha" and "Lodha Luxury" for premium projects. In the office space, its brands include"iThink", "Lodha Excelus" and "Lodha Supremus". As of December 31, 2017, the company had 37 ongoing projects (35 projects were in India and two were in London) accounting for a Developable Area of 33.80 million square feet. It had 22 planned projects in India with a Developable Area of 64.21 million square feet. The company's overseas projects includes Lincoln Square on Carey Street and 1 Grosvenor Square in Mayfair. As of December 31, 2017, 114 units with total Sales value of GBP 277.65 million were sold. Company Upsides: 1. Leadership position with strong execution record and recognized brand 2. Strong presence in the Mumbai and Pune real estate market, catering across demographics 3. Diversified project portfolio inthe residential and commercial sector Objects of the Issue The Offer comprises of a Fresh Issue and the Offer for Sale. The objects of the fresh issue areL 1. Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis and 2. General corporate purposes Issue Type: Book Built Issue IPO Face Value: Rs 10 Per Equity Share Issue Price: Rs - Rs Per Equity Share Listing At: BSE, NSE The Promoter Selling Shareholder will be entitled to the proceeds of the Offer for Sale and the company will not receive any proceeds from it. Company Promoters: Individual Promoters of the company are Mangal Prabhat Lodha and Abhishek Mangal Prabhat Lodha. Corporate promoters of the company are Sambhavnath Infrabuild and Mangal Prabhat Lodha Family Discretionary Trust. Sambhavnath Infrabuild was incorporated on August 27, 2007, and is engaged in real estate development and allied activities. The trustees of Mangal Prabhat Lodha Family Discretionary Trust are Mangal Prabhat Lodha, Manjula Mangal Prabhat Lodha and Abhishek Mangal Prabhat Lodha23-07-2018