• Sunday, May 22, 2022

Business

India’s Real Estate Giant Lodha Developers To Exit UK Market

In India, the real estate giant has achieved a sales bookings of Rs 42bn in first half of the financial year 2018-19. The company witnessed a good sales in the last two months also (Photo: Dhiraj Singh/Bloomberg via Getty Images).

By: Radhakrishna N S

India’s realty business giant, Lodha Developers will move out of the UK property market and is on its way to sell two of its residential projects in the central London for about Rs 42 billion (£465.80 million), according to a company official on Wednesday (28). The decision to exit from UK’s real estate market is a part of the company’s strategy to cut debt and further strengthen its business. Lodha Developers is planning to launch IPO when market conditions get strengthen and aims to raise about Rs seven billion by selling a share in a middle-level income real estate project…

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