Amidst the trademark dispute with his brother Abhishek Lodha, Abhinandan Lodha, founder and chairman, House of Abhinandan Lodha (HoABL) is looking to grow his plotted development business by 30% per annum and buy land in new cities. In an interview, Lodha tells Raghavendra Kamath about his strategy and outlook for the real estate market.
How has the stagnancy in stock markets impacted your business.
We are into land development. The decline in stock markets haven’t had any impact on our sales. We are growing at 30% per annum. We feel people are thinking that since stock markets are down they should invest in land. Whatever we are buying and launching, 90-95% is getting sold. We have a list of buyers who are keen on buying wherever we launch.
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What is the rationale behind launching your developments in religious/spiritual places?
We are going wherever the state and central governments are creating infra push and economic growth. For instance, In Vrindavan, three new corridors have been announced. In Prayagraj, Rs 72,000 crore of permanent infrastructure was created. We want to be in such places. We believe land prices will go through the roof at such places in the next 10-15 years because of the growth.
How is the mediation with your brother going?
I don’t have any comment as it is ongoing. We wish it will be successful and resolve all the issues.
Are you looking at property development business?
At this stage, we are not announcing anything. HoABL will continue to focus on land development.
What kind of sales you are looking to achieve in FY25 and FY26.?
In FY25, we are looking at sales of around Rs 2,200 crore and in FY25 about Rs 3,000 crore…
Earlier you said you plan to buy land in 13 new cities. How do you plan to find the new land buys?
It’s largely from internal accruals and also from multiple financial partners.
What are the challenges you are facing in land buying?
Land aggregation is the biggest challenge, followed by putting team on the ground,
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