Lodha Group Aims for 15% Market Share in Bengaluru Real Estate by 2030
Abhishek Lodha, the Managing Director and CEO of Macrotech Developers, also known as Lodha Group, recently announced that the company has successfully concluded its pilot phase in Bengaluru's real estate market. As the company moves from the pilot phase to the growth phase, it has set ambitious targets for its future in the IT city.
When Lodha Group entered Bengaluru in mid-2021, the company committed to a pilot phase lasting 2-3 years. During this phase, the focus was on building a strong local team, understanding the operational nuances of the market, and showcasing successful project deliveries to the consumers. Abhishek Lodha emphasized that the pilot phase has been successfully concluded, and now the company is poised for expansion.
Lodha Group's goal for the Bengaluru market is clear—achieve a 15% market share by the end of the decade. Currently, the company holds a market share of about 2-3% in Bengaluru, with sales of approximately ₹14 billion in the last fiscal year. Abhishek Lodha stated that they aim to gain an average of 2% points of market share each year, indicating higher pre-sales in the current year.
In addition to its Bengaluru ambitions, Lodha Group is witnessing significant growth at its Palava City project near Mumbai. With improvements in infrastructure, Palava is expected to replicate the growth seen in Gurugram over the past decades, potentially accelerating its development within just 3-5 years.
Abhishek Lodha has also shared the company's long-term vision for Palava City and other developments. The company aims to diversify its offerings from low- and mid-income housing to high-end, aspirational properties. With ongoing infrastructure improvements, Lodha Group plans to accelerate its growth in both Mumbai and Bengaluru, ensuring a strong foothold in the real estate market by the end of the decade.
Lodha Group’s strategies highlight a shift towards growth and consolidation, with Bengaluru emerging as a key market in its ambitious plans for expansion.
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