Lodha targets Rs.4,300-cr housing projects

    Housing Sector
    Lodha Developers, which is a major real estate builder of the country, has set aside a staggering sum of Rs.4,300 crore to launch 8-9 new realty projects in Mumbai and Pune this fiscal, said Managing Director Abhishek Lodha , claiming that the builder invested Rs.3,700 crore in the last fiscal on construction activities and has increased outlay for the 2017-18 fiscal to boost deliveries. On this score, the company will increase its total construction investment on existing and new projects this fiscal. The investment will be funded largely through internal accruals as the company expects to receive Rs.8,000-9,000 crore from customers. The collections from customers stood at Rs.7,000 crore during 2016-17 and it delivered 7,200 homes which is a big record for the country in itself and has targeted to increase delivery of homes in excess of 8,000 units this financial year, he claimed.
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