Lodha Developers Acquires 80% Stake in Pune-based SRPL for ₹294 Crore
Mumbai-based Lodha Developers Ltd, one of the leading real estate companies in India, has made a strategic move by acquiring an 80% stake in Pune-based Solidrise Realty Pvt Ltd (SRPL) for ₹294 crore. This acquisition is part of Lodha Developers' aggressive expansion plan to solidify its presence in key markets across the country.
Lodha Developers, known for its premium properties under the Lodha brand, has a strong footprint in major cities like Mumbai, Pune, and Bengaluru. The company has a track record of delivering high-quality residential and commercial projects, with a total development area exceeding 100 million square feet.
In a regulatory filing, Lodha Developers announced the share purchase agreement to acquire 80% equity in SRPL. Post-acquisition, SRPL will become a subsidiary of Lodha Developers, further strengthening the company's portfolio and market position.
SRPL is a well-established real estate player in Pune, known for its successful projects in the city. The acquisition of SRPL is expected to enhance Lodha Developers' presence in the Pune market, which has been witnessing significant growth in the real estate sector.
Last month, Lodha Developers reported a 1% increase in consolidated net profit to ₹956.9 crore in the third quarter of the current fiscal year, compared to ₹944.4 crore in the same period last year. Total income rose to ₹4,775.4 crore in the October-December quarter of FY25-26, up from ₹4,146.6 crore in the corresponding period of the previous year.
In addition to the financial performance, Lodha Developers has been actively acquiring land parcels in strategic locations. In the third quarter alone, the company acquired 5 land parcels in Mumbai, Delhi-NCR, and Bengaluru, with an estimated sales value of nearly ₹34,000 crore. This strategic land acquisition approach, which includes both outright purchases and partnerships with landowners, ensures a strong pipeline of future projects.
Lodha Developers has a robust presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru housing markets. The company recently entered the Delhi-NCR residential market, further diversifying its portfolio and expanding its reach.
The acquisition of SRPL is a testament to Lodha Developers' commitment to growth and innovation in the real estate sector. By leveraging SRPL's local expertise and market knowledge, Lodha Developers aims to deliver more value to its stakeholders and contribute to the overall development of the Pune real estate market.
