NEW DELHI: Bullish on rising demand for housing plots, realty firm The House of Abhinandan Lodha is looking to buy land in 13 new cities for plotted development projects as part of its strategy to expand presence in 30 towns by March next year. In an interview with PTI, the company’s founder Abhinandan Lodha said the company is likely to sell plots worth Rs 2,200 crore during this fiscal year and is targeting to reach an annual sales of Rs 10,000 crore by 2029-30.
He said the company has so far bought land parcels in 17 locations across various states, of which it has already started development and sales activities at 10 locations.
The House of Abhinandan Lodha currently has presence in Maharashtra, Goa, Uttar Pradesh, Punjab, and Himachal Pradesh.
“We will be starting construction in the 7 remaining locations where we already have land in the next six months,” he said.
“We are constantly looking to buy land. It’s a daily exercise for us. We are looking to buy land in 13 new cities which we hope to finish acquiring by March 2026,” Abhinandan said while speaking on sidelines of a CREDAI conference held recently at Nashik, Maharashtra.
He did not wish to comment on the ongoing dispute with Macrotech Developers, owned by his elder brother Abhishek Lodha, over the use of brand ‘Lodha’, saying the matter is under mediation following a court order.
Mumbai-based The House of Abhinandan Lodha, which was formed in 2021, has already launched many plotted development projects covering around 1,000 acres at 10 cities in Maharashtra, Goa, and Uttar Pradesh.
Abhinandan said the company sells plots only through online route as this is helping the company in scaling up the business.
He said the company has identified 48 cities for plotted development.
Abhinandan said the concept of land ownership will increase in coming years and the company is trying to address this demand by providing clean titled land with all approvals to its customers, who are end users as well as investors.
In November last year, The House of Abhinandan Lodha had announced Rs 3,000 crore investment to expand its business in six new cities.
It acquired 352 acres of land across six new cities — Amritsar, Vrindavan, Varanasi, Shimla, Nagpur, and Khapoli near Mumbai.
Many celebrities, including Amitabh Bachchan, have bought plots in its projects.
The House of Abhinandan Lodha is part of Lodha Ventures, which was established by Abhinandan Lodha.
