Real estate developer Lodha Developers Ltd plans to monetise around 150 acres of land at its data centre park in the Mumbai Metropolitan Region over the next three to four years, targeting proceeds of nearly Rs 10,000 crore, according to Managing Director Abhishek Lodha.
Speaking during the company's earnings call with analysts, Lodha said land monetisation is a planned and recurring part of the company's business strategy rather than a one-off exercise. The company currently owns around 660 acres at its data centre park in Pallava, MMR, and expects to realise an average value of Rs 60 crore per acre from future land sales.
"Of this, the first phase of 370 acres, we have already monetised about 130 acres, and we intend to further monetise about 150 acres over the next 3-4 years, which itself will generate close to Rs 10,000 crore of sales," Abhishek said, as per the transcript of the interaction with the analysts.
Highlighting the park's infrastructure, Lodha said it has access to around 3 gigawatts of power at approximately $0.08 per unit, along with five fibre-optic routes, five transmission lines and approvals under the Maharashtra Green Integrated Data Centre Policy.
"The data centre is largely self-funded from land sales inside the same park. It does not add to group leverage, and it does not compete with our DevCo (housing business) for capital in any significant manner," Abhishek asserted.
Lodha Developers, which has a presence in the Mumbai Metropolitan Region, Pune and Bengaluru, is also preparing to enter the National Capital Region housing market with its first residential project in the region during the current financial year. The company develops residential and commercial properties, including offices, malls, warehousing and industrial parks, as well as data centres.
On the company's financial performance, Lodha urged investors to focus on audited profit after tax and operating cash flow, saying the two metrics together provide a clearer picture of business performance and shareholder returns. The developer is targeting a 20% growth in net profit this financial year to around Rs 4,100 crore, supported by strong housing demand, project execution and continued land monetisation.
Lodha Developers reported its highest-ever quarterly profit in the April-June quarter of FY27, with net profit doubling to Rs 1,373.1 crore from Rs 675 crore a year earlier. Total income rose to Rs 5,096.7 crore from Rs 3,624.7 crore, while the PAT margin improved to 26.9% from 18.6%.
(With PTI Inputs)
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