Lodha Developers enters NCR market with 1,700 crore rupee office project
Mumbai developer Lodha Developers launches its first Gurugram project and reports a 28% rise in quarterly net profit.
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what happened
Lodha Developers, one of India's largest residential developers by sales, is entering the National Capital Region (NCR) for the first time. The company has launched Lodha Pantheon, a commercial office project worth 1,600–1,700 crore rupees on Golf Course Road in Sector 28, Gurugram. Its finance executive director, Sushil Kumar Modi, said the company plans to sell the office space rather than hold it for rental income.
According to Moody's, citing the company's regulatory filing, net profit for the July–September quarter rose 28% year on year to 1,013 crore rupees, while revenue climbed 18% to 4,468 crore rupees. Pre-sales in the quarter reached 5,037 crore rupees. Lodha also plans to grow rental income from data centres, aiming to lift annuity income from 300 crore rupees in FY26 to 3,000 crore by FY32.
why it matters
Lodha's move into NCR shows developers from Mumbai and Bengaluru increasingly competing in a market long dominated by DLF. For investors in India's property sector, the company's steady quarterly results and its large launch pipeline for the second half of FY27 are the key points to watch.
market impact
Lodha and Indian property stocks: strong results and expansion support investor interest in the sector
- Lodha Developers shares pressure up — 28% profit growth and 18% revenue growth in the quarter support the stock
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sources
- Lodha Developers makes NCR market debut with Rs.1,700 crore office project — Moody's, 31 October 2026 at 10:05 UTC
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