NEW DELHI: Lodha Developers has signed a share purchase agreement to acquire an 80% equity stake in Solidrise Realty (SRPL) for ₹294.07 crore. Following this acquisition, SRPL will operate as a subsidiary of the company, which is actively involved in the Pune real estate market.
The acquisition aims to facilitate the company’s expansion into Pune, as stated in its regulatory filing.
In the earnings report for Q3 FY26, Abhishek Lodha, the managing director and CEO, announced the addition of approximately ₹340 billion in gross development value (GDV) from new project developments, including two projects currently in the pilot phase in NCR. This brings the total GDV added this year close to ₹600 billion.
“As previously mentioned, our entry into new markets involves a two-step approach. The first step is the pilot phase, where we initiate a limited number of projects using a capital-light joint development model to understand the market and establish a competent local team. Once we validate that the market aligns with our brand and profitability goals, we transition into the growth phase,” Lodha explained.
“We are presently starting the pilot phase in NCR with two locations signed, amounting to a GDV of approximately ₹33 billion. We anticipate commencing sales for this project within the next year,” Lodha added.
