Tag: Lodha Developers

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SC Directs ED to Release V Hotels Assets to Lodha Developers

NEW DELHI: The Supreme Court has ordered the Enforcement Directorate (ED) to unfreeze 12 properties of corporate debtor V Hotels Ltd, which includes land in Maharashtra valued at approximately ₹4,000 crore. This decision marks a significant victory for Lodha Developers, which acquired V Hotels through the insolvency resolution process last year. Among the assets to be released is Mumbai’s prestigious Centaur Hotel located in Juhu. Lodha Developers, previously known as Macrotech Developers, acquired V Hotels via a ₹890-crore resolution plan sanctioned by the National Company Law Tribunal (NCLT) in April of last year. The company had deposited ₹520.80 crore as…

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ED probes 14 sites linked to ex-Lodha Developers director

MUMBAI: The Enforcement Directorate (ED) has conducted searches at 14 locations in Mumbai and nearby areas associated with Rajendra Lodha, the former director of Lodha Developers (now Macrotech Developers), and his associates as part of a money laundering investigation. Rajendra is accused of defrauding the Lodha Group, established by minister and BJP leader Mangal Prabhat Lodha, by illegally selling apartments in a New Cuffe Parade project. The city crime branch had previously arrested him, leading to the ED’s case based on that FIR. One of the locations searched belonged to Vinod Patil, the brother of a former MNS MLA. Neighbors,…

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Lodha Developers’ Q2 FY26 net profit jumps 86.67%

NEW DELHI: Lodha Developers has announced an impressive 86.67% increase in its net consolidated profit for the quarter ending September 30, 2025. Their profit after tax reached ₹789.80 crore in Q2 FY26, compared to ₹423.10 crore in the same quarter last year, as stated in a filing to the BSE. The company’s total consolidated income for Q2 FY26 was ₹3,878.90 crore, marking a 44.49% rise from ₹2,684.60 crore in the corresponding quarter of the previous fiscal year. Abhishek Lodha, MD & CEO of the company, expressed, “We are delighted to report our best-ever Q2 performance, achieving pre-sales of ₹45.7 billion,…

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Lodha Developers’ Q3 pre-sales rise 7% to ₹4,570 crore

Realty developer Lodha Developers has reported a year-on-year increase of 7% in pre-sales, totaling Rs 4,570 crore for the quarter ending in September. The company’s collections also saw a 13% growth year-on-year, reaching Rs 3,480 crore. For the first half of the financial year, Lodha’s pre-sales amounted to Rs 9,020 crore, indicating an 8% rise compared to last year. Meanwhile, collections for this period increased by 10%, totaling Rs 6,360 crore, as stated in a regulatory filing. During this quarter, the developer launched a new project in the Mumbai Metropolitan Region with a gross development value (GDV) of Rs 2,300…

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Ex-Lodha Developers Director in 14-Day Fraud Custody

MUMBAI: On Monday, a court here placed former Lodha Developers director, Rajendra Lodha, under 14-day judicial custody following his arrest in an alleged fraud case, denying the police requests for additional remand. Lodha appeared before Additional Chief Metropolitan Magistrate V R Patil at the conclusion of his previous remand period. The police sought an extension of his custody, citing ongoing verification of documents related to Lodha’s financial sources gathered during their investigation. The law enforcement agency highlighted that a forensic audit is being conducted, necessitating further interrogation of the accused based on findings from this audit. The crime branch apprehended…

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Real Estate Stocks Drop on Weak Demand Worries

MUMBAI: Real estate stocks experienced a decline on Wednesday, marking a third consecutive session of losses. Investors took profits amidst concerns over slowing demand. The realty index dropped by more than 2%, accumulating a total decline of 3.5% over the past three days, in contrast to a 1.1% dip in the benchmark Nifty. Out of the 10 stocks in the index, eight recorded losses on Wednesday. Godrej Properties fell by 4%, while DLF and Oberoi Realty decreased by 3.5% and 2.8%, respectively. Lodha Developers and Phoenix Mills each saw declines of over 2%. “Profit-taking in realty stocks follows last year’s…

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Lodha Developers’ Ex-Director Sold Land to Son’s Firm Illegally: Police

MUMBAI: Rajendra Lodha, former director of Lodha Developers, was arrested for alleged fraud. Authorities claim he received large sums of cash from land transactions and sold a plot to his son’s company without proper authorization. During a court hearing on Tuesday, police requested his further remand as they seek to delve deeper into the complexities of the financial transactions involved. The Additional Chief Metropolitan Magistrate V R Patil extended Lodha’s custody until September 29. The 59-year-old suspect was taken into custody on September 17 by the Mumbai police’s crime branch. He has been accused of colluding with others to sell…

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Lodha Sells 24-Acre Mumbai Land to STT Global for ₹500 Crore

Representative image created by AI NEW DELHI: Lodha Developers Ltd has sold over 24 acres of land in the Mumbai region to STT Global Data Centres, a Singapore-based firm, for approximately Rs 500 crore, according to sources. The land acquisition has been officially registered, comprising 24.34 acres at Palava. Lodha Developers sold 1.74 acres, while its subsidiary, Palava Induslogic 4 Pvt Ltd, sold 22.6 acres, totaling nearly Rs 499 crore. The company has not commented on this deal. Earlier this month, Lodha Developers signed a Memorandum of Understanding (MoU) with the Maharashtra government to establish a green integrated data centre…

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Lodha Developers’ Q1 FY26 Net Profit Soars 41.86%

NEW DELHI: Lodha Developers, previously known as Macrotech Developers, has reported a significant increase of 41.86% in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax reached ₹675.10 crore in Q1 FY26, compared to ₹475.90 crore during the same period last year, as stated in a BSE filing. In Q1 FY26, the company’s net consolidated total income also rose to ₹3,624.70 crore, marking a growth of 24.21% from ₹2,918.30 crore in the corresponding quarter of the previous fiscal year. Abhishek Lodha, the MD & CEO, remarked, “Q1 FY26 has showcased our best-ever first quarter…

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Invesco Sells Oberoi Realty, Lodha Shares for ₹3,202 Cr

Representative image created by AI NEW DELHI: Investment management firm Invesco has sold over 2 crore shares of real estate companies Oberoi Realty and Lodha Developers for a total of ₹3,202 crore through open market transactions. The US-based firm, via its affiliate Invesco Developing Markets Fund, divested a little over 1 crore equity shares—2.95% of its stake in Oberoi Realty, according to bulk deal data from the BSE. Shares were sold at ₹1,754.26 each, totaling roughly ₹1,883.21 crore. As of the June quarter, Invesco Developing Markets Fund held a 3.01% stake in Oberoi Realty. In a separate transaction on the…