Lodha Group looking to buy more properties in London
MUMBAI: Realty developer Lodha Group is looking at buying more properties in central London after picking up MacDonald House from the Canadian Government in the city for over 300 million pounds or Rs 3,000 crore.
"We plan to focus on Mumbai and London as our two main markets...We are looking at buying more properties in central London particularly residential and commercial ones, not hotel assets," said Abhinandan Lodha, deputy MD of Lodha Group.
Lodha Group, however, may not be keen on other European cities as a market, he added. The company has already picked up an office spread over 1,000 sq ft at Eaton Square in London to house its UK business' office.
Lodha Group is the first Indian developer to acquire a ready property overseas for a realty project development, while there are few that have already executed project in foreign countries on acquired land parcels.
The company has made initial payment of Rs 300 crore or around 10% as first tranche of entire consideration and while the company is hoping to pay balance by January end.
The developer is planning to fund the transaction through internal accruals and is not looking to raise debt or induct a private equity player "at this time," Lodha said.
The company has clocked revenue of Rs 8,700 crore for 2012-13 (April-March) and Rs 14,500 crore for six months ended September 2013, he added.
The developer is also exploring options for hedging entire consideration of over 300 million pounds. The deal is currently pegged at Rs 102/pound. "We will decide on the hedge over the next couple of weeks," Lodha said.
The company is aiming to launch the London project in 6-9 months and is hopeful of fetching 20% internal rate of return over the next 4-5 years. When asked if projects approvals are easy to come by in this new market for the company, Lodha said the procedures are standardized there and it will not be a challenge.
Source: economic times.
TO KNOW DETAIL & BOOKING OF LODHA PREMIUM PROJECTS IN PUNE, CONTACT US ON CELL- +91-9822052388 & email: deepaksundrani@gmail.com
"We plan to focus on Mumbai and London as our two main markets...We are looking at buying more properties in central London particularly residential and commercial ones, not hotel assets," said Abhinandan Lodha, deputy MD of Lodha Group.
Lodha Group, however, may not be keen on other European cities as a market, he added. The company has already picked up an office spread over 1,000 sq ft at Eaton Square in London to house its UK business' office.
Lodha Group is the first Indian developer to acquire a ready property overseas for a realty project development, while there are few that have already executed project in foreign countries on acquired land parcels.
The company has made initial payment of Rs 300 crore or around 10% as first tranche of entire consideration and while the company is hoping to pay balance by January end.
The developer is planning to fund the transaction through internal accruals and is not looking to raise debt or induct a private equity player "at this time," Lodha said.
The company has clocked revenue of Rs 8,700 crore for 2012-13 (April-March) and Rs 14,500 crore for six months ended September 2013, he added.
The developer is also exploring options for hedging entire consideration of over 300 million pounds. The deal is currently pegged at Rs 102/pound. "We will decide on the hedge over the next couple of weeks," Lodha said.
The company is aiming to launch the London project in 6-9 months and is hopeful of fetching 20% internal rate of return over the next 4-5 years. When asked if projects approvals are easy to come by in this new market for the company, Lodha said the procedures are standardized there and it will not be a challenge.
Source: economic times.
TO KNOW DETAIL & BOOKING OF LODHA PREMIUM PROJECTS IN PUNE, CONTACT US ON CELL- +91-9822052388 & email: deepaksundrani@gmail.com
Your blog is very informative and thorough. I read the blogs each time they are sent. Thanks for your contributions and taking the time to share.2 BHK Apartments in Hyderabad
ReplyDeleteHello,
ReplyDeleteThanks for share a very good news.
World Trade Center Greater Noida is an international standard business organization located at Tech Zone-, greater Noida. It provides various kinds of multi class commercial tower.
after developing and giving india the best commercial and recidential projects lodha group is making india proud over the globe..great going..
ReplyDeleteLodha is certainly a big gun in Mumbai property , and hope that it will represent India Internationally in the same manner.
ReplyDeletecute post nd vry informative blog as well.Your residential projects are really very good and attractive. Here is the another projet; it provides you apartments at the suitable price.
ReplyDeleteApartments for sale in BHIWADI
Apartments for sale at low price
worth reading.....nd a grt blog.Your residential projects are really very attractive. Here is the another projet; it provides you apartments at the suitable price.
ReplyDeleteApartments for sale at best rate
Apartments for sale in Azure Bhiwadi
Thank you for sharing dis blog.... Here is another project where you can invest or can buy for your family.
ReplyDeleteApartments in AVALON ROSEWOOD
Nice post! Villas in Sarjapur
ReplyDeleteThanks for the good post! Heritage Homes
ReplyDeleteworth reading blog...
ReplyDeletethanx and regards,
HORIZON CONCEPT AZURE
Really appreciatable...gud blog...
ReplyDeleteThanx
HORIZON CONCEPT AZURE BHIWADI
Thanks for share valuable information. Lotus Greens Square
ReplyDeleteis the well crafted residential apartment launched by Lotus Greens Developers in the heart of Noida.
I wanna say one thng dat ur blog is vry cool and rocking....
ReplyDeleteThanks a lot...keep growing !!!
By ELDECO SOHNA
I wanna say one thng dat ur blog is vry cool and rocking....
ReplyDeleteThanks a lot...keep growing !!!
By TERRA HERITAGE BHIWADI
I wanna say one thng dat ur blog is vry cool and rocking....
ReplyDeleteThanks a lot...keep growing !!!
By TREHAN BHIWADI
It is amazing blog having a lot of good idea's in this blog thanks for posting.
ReplyDeleteThanks for the good post! Apartments in whitefield itpl
ReplyDeleteWe can provide you with some of the best options for buying a property in Badlapur. You could invest your hard earned money in one of the most reasonably priced property listing from us. So, don’t think twice and contact us!
ReplyDeleteThank you for sharing dis blog.... Here is another project where you can invest or can buy for your family.
ReplyDeleteSiddheswar Hill Square & Villa