Lodha Group records Rs.2,400-cr sales

In an indication that recession has finally bottomed out of the country’s real estate sector, property building major Lodha Group sold properties of about Rs.2,400 crore in the just concluded quarter of the last financial year. As a matter of fact, its sales improved post demonetization as the builder sold about Rs.385 crore of properties in January and Rs.800 crore in February, and in March it recorded sale of Rs.1,236 crore which has turned out to be the highest monthly sales performance ever, Chief Sales Officer, Prashant Bindal said, claiming that company's sales bookings stood at about Rs.1,500 crore in the year-ago period. He further added that the total sales bookings in 2016-17 are likely to cross about Rs.6,400 crore that was achieved in the previous year.