Loda Developers Company is the largest real estate developer in India, with a residential sale price for FY2014 to 2020. Its core business is residential development with a focus on affordable and medium-sized housing. Currently, the company has plans to stay in MMR and Pune. In 2019, it went on to develop operational and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte Limited. The company also develops real estate for sale, including as part of a mixed-use development within and outside its residential projects.
Macrotech’s affordable and affordable housing development accounts for 57.8% and 57.8% of its total residential sales, over the nine months ended 31 December 2020 and FY2020, respectively.
The company is starting to sell real estate in the residential and commercial sectors of Mumbai Metropolitan Region (“MMR”), Pune and London. In the residential sector, it is upgrading buildings with units ranging from Rs 3.50 million to Rs 590 million. In the commercial sector, it develops office and sales projects with a rental model and a sales model.
Lodha manufacturers focus on branded space and have many products including “CASA by Lodha” for affordable housing, “Lodha” and “Lodha Luxury” for premium projects. In the office space, its products include “Think”, “Lodha Excelus” and “Lodha Supremus”.
As of 31 December 2020, the company has 91 completed projects containing approximately 77.2 million feet of Development. It also has 36 ongoing projects containing approximately 28.8 million square feet of the Developable Area, of which 23.57 million square feet are located in affordable and medium-sized housing. In addition to ongoing and planned projects, as of 31 December 2020, the company has approximately 3,803 hectares of land for future development in the MMR, with the potential to develop approximately 322 million meters of Development Areas.
Strengths of the Company
1. Leadership position with strong execution record
2. Multiple established brands
3. Strong presence in the attractive real estate markets of Mumbai and Pune
4. Diversified project portfolio in both residential and commercial sector
5. Caters to a wide spectrum of customer segments
Company Promoters
Individual Promoters of the company are Mangal Prabhat Lodha and Abhishek Mangal Prabhat Lodha.
Corporate promoters of the company are Sambhavnath Infrabuild and Mangal Prabhat Lodha Family Discretionary Trust.
Sambhavnath Infrabuild was incorporated on August 27, 2007, and is engaged in real estate development and allied activities.
The trustees of Mangal Prabhat Lodha Family Discretionary Trust are Mangal Prabhat Lodha, Manjula Mangal Prabhat Lodha and Abhishek Mangal Prabhat Lodha.
Company Financials
| Particulars | FY2018 | FY2019 | FY2020 | 9M FY2021 |
| Revenue | 13,726.6 | 11,979.9 | 12,561.0 | 3,160.5 |
| Expenses | 11,017.0 | 9,490.0 | 11,560.2 | 3,218.8 |
| Comprehensive income | 1,767.9 | 1,641.6 | 732.5 | -259.3 |
| Margin (%) | 12.9 | 13.7 | 5.8 | -8.2 |
Objects of the Issue
The Offer comprises of a Fresh Issue and the Offer for Sale.
The Promoter Selling Shareholder will be entitled to the proceeds of the Offer for Sale and the company will not receive any proceeds from it.
The objects of the fresh issue are-
1. Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis; and
2. General corporate purposes
Lodha Developers IPO Details – Tentative
| IPO Opening Date | 07 APR, 2021 |
| IPO Closing Date | 09 APR, 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹ 2500 Cr. |
| Face Value | ₹10 per equity share |
| IPO Price | [483] to [486] Per Equity Share |
| Market Lot | 30 Shares |
| Min Order Quantity | 30 Shares |
| Listing At | BSE, NSE |
| Total Share Issue | 51,440,328 Equity Share |
Lodha Developers IPO – Tentative Schedule
| IPO Open Date | 07 APR, 2021 |
| IPO Close Date | 09 APR, 2021 |
| Finalization of Basis of Allotment | 16 APR, 2021 |
| Initiation of Refunds | 18 APR, 2021 |
| Credit of Shares to Demat Account | 21 APR, 2021 |
| IPO Listing Date | 22 APR, 2021 |
Lodha Developers IPO Lots Size & Price(Tentative)
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 30 | 14,580 |
| Maximum | 13 | 390 | 1,89,540 |
Lodha Developers IPO: How To Apply
Promoters play a very important role in raising much-needed business revenue.
Apply For Lodha Developers IPO Through ASBA
First, you should know what ASBA is. ASBA stands for Restricted Application Support. It is an application by the bank to apply for an IPO.
You apply with ASBA through the bank because initially, the bank covers the cost of purchasing the IPO. This amount is deducted from your account only after receiving IPO share shares in your Demat account.
All the major banks in the country are expanding the ASBA center. There are about 30 banks on the list, some of which are IDBI Bank Limited, Citi Bank, Punjab National Bank, etc.
The center may be expanded once they have been authorized to do so. These banks block the corresponding amount until the IPO allocation process is finalized.
Now, most of you are probably thinking about how to use the Lodha Developers IPO with ASBA. The process can be completed online or offline for your convenience.
Apart from this, you can also bid for an Lodha Developers IPO through your stockbroker’s online portal (such as Zerodha, Edelweiss, Motilal Oswal, etc.)
Company Contact Information
| Lodha Developers Limited 412, Floor – 4 17G, Vardhaman Chamber, Cawasji Patel Road Horniman Circle, Fort, Mumbai 400 001 Phone: +91 22 2302 4400 Email: investorrelations@lodhagroup.com Website: http://www.lodhagroup.com |
