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

Published on: Apr 25, 2024, 20:46:06 IST

By HT News Desk

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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.

"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.

Also Read: Delhi-NCR saw 29 land deals for approximately 314 acres closed in FY-24; Gurugram leads with 22 land deals

"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.

Also Read: More than 101 land deals for approximately 2,989 acres closed in FY-24 across cities, including Ayodhya

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.

Also Read: 64% of HNI investors prefer fractional ownership model to invest in commercial real estate

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HT News Desk
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