The House of Abhinandan Lodha (HoABL), a prominent player in India’s real estate sector, has announced its strategic entry into Mumbai’s vertical real estate market with an investment of ₹2,500 crore across three landmark projects. This move marks a significant shift from the company’s traditional focus on horizontal developments to high-rise constructions in one of India’s most dynamic property markets.
Key Projects Overview
- American Culture Center, Marine Lines: Acquired in December 2024, this project involves redeveloping the former American Center into a commercial property spanning approximately 60,000 sq. ft. Situated in South Mumbai, the site offers panoramic views of Marine Drive and Mumbai Harbour.
- Chowpatty Residential Project: Located near Girgaon Chowpatty, this premium residential development is designed to offer around 50,000 sq. ft. of luxury living space, capitalizing on its prime location and scenic surroundings.
- Naigaon Integrated Township: In collaboration with Mittal Builders through a Joint Development Agreement (JDA), HoABL plans to develop an expansive township in Naigaon, featuring high-rise residential towers and high-street retail spaces. This project boasts a development potential exceeding 3 million sq. ft., aiming to cater to the affordable-to-mid-income housing segment.
Financial and Strategic Insights
The combined development potential of these projects is estimated at 3.1 million sq. ft., with an anticipated revenue generation of ₹3,500 crore. HoABL plans to fund these ventures through a mix of internal accruals and project-specific debt, with borrowings not exceeding ₹250–300 crore.
Chairman Abhinandan Lodha emphasized the company’s commitment to innovation and customer-centricity in vertical developments, mirroring its success in horizontal projects. He highlighted the strategic timing of this expansion, aligning with the expiration of a non-compete agreement with Macrotech Developers in 2022.
Future Outlook
HoABL aims to replicate its vertical development model in other cities, including Amritsar, Nagpur, and Vrindavan, aligning with its broader vision of creating integrated townships across India. The company continues to focus on both ultra-premium and affordable housing segments, leveraging technology and innovative design to meet evolving consumer needs.
This strategic foray into Mumbai’s vertical real estate market signifies HoABL’s ambition to diversify its portfolio and strengthen its presence in India’s urban development landscape