HoABL's Vertical Leap: Transformation in Mumbai's Skyline

House of Abhinandan Lodha announces a strategic move into high-rise residential and commercial properties in Mumbai, with an investment of Rs 2,500 crore. As Abhinandan Lodha steers HoABL towards vertical development, the company aims for a significant revenue increase, leveraging internal funds and pre-booking dynamics.

The House of Abhinandan Lodha (HoABL) announced a major strategic entry into the vertical construction sector this Wednesday, following a period of family reconciliation. The company will focus on high-rise residential and commercial properties to bolster its future revenue streams.

Abhinandan Lodha detailed a Rs 2,500 crore investment across three significant projects in Mumbai, set to yield a gross development value of Rs 3,500 crore. This move follows the conclusion of a non-compete agreement in 2022, allowing HoABL free rein in the Mumbai real estate market independently.

The projects include transforming the former American Culture Centre and developing properties in Naigaon and Marine Lines. With vertical ventures projected to contribute up to 50% of future revenues, the company will primarily fund these through internal accruals and pre-bookings, minimizing the need for external debt. Construction is set to commence by December.

(With inputs from agencies.)