New Delhi: Realty major Lodha Developers will invest about Rs4,300 crore this fiscal on construction to boost deliveries of housing units and also plans to launch 8-9 new projects in Mumbai, Pune and London. The Mumbai-based Lodha Developers invested Rs3,700 crore in the last fiscal on construction and has increased outlay for the 2017-18 fiscal to boost deliveries, its managing director Abhishek Lodha said. Asked about the investment, Lodha said the company will increase its total construction spend this fiscal to Rs4,100-4,300 crore on existing and new projects from Rs3,700 crore in the 2016-17 fiscal. “We sold 4,000 homes in affordable category in 2016-17 and we are targeting sale of 6,000 low-cost homes this fiscal,” Lodha said. Out of this, about Rs7,000 crore sales were from Indian market and rest from London where we launched our first project,” Lodha group’s MD said.

Source: Mint April 23, 2017 10:07 UTC