Lohia Global forays into real estate business; to invest ₹1000 crore to develop housing projects

Lohia Global will invest ₹1000 crore over the next five years to develop housing projects across Moradabad, Lucknow, and Delhi NCR, the company said

Lohia Global, which has a global presence in exports, manufacturing, and energy, has forayed into the real estate business and will invest ₹1000 crore over the next five years to develop housing projects across Moradabad, Lucknow, and Delhi NCR, the company said.

Lohia Global, which has a global presence in exports, manufacturing, and energy, has forayed into the real estate business and will invest ₹1000 crore over the next five years (Representational photo)

"With our deep-rooted experience across diverse industries, we are ready to channel our expertise into real estate. We want to set new benchmarks in living standards and community building with Lohia Worldspace", said Pyush Lohia, Director of Lohia Worldspace.

"We recognize the rising demand for modern and high-quality housing in India's urban areas and tier 2 markets. We want to first concentrate on projects in the Tier 2 cities and then expand to NCR, creating premium living ", he said.

The company plans to develop five residential projects across a 30 lakh square feet area in the next five years, beginning with luxury residences in Moradabad. Housing projects will also come up in Delhi-NCR and Lucknow.

The company said that with a projected cumulative revenue of the real estate venture touching ₹4000 crores by 2030, real estate alone will constitute a significant portion of the group's revenue.

Delhi-based Lohia Global is a privately held company with an annual revenue of around ₹1,200 crore from four businesses - handicraft exports, electric vehicles, tiles and solar energy.