About the Company:
Lodha Developers is in the business of developing real estate across the residential and commercial sectors in the Mumbai Metropolitan Region (the “MMR”), Pune and London.
Lodha Developers is the largest real estate developer in India by residential Sales for the financial year 2017.
Company’s residential portfolio comprises affordable housing and premium housing consisting of luxury, high-end and aspirational developments.In the residential portfolio, Company is present across multiple price points with unit values ranging from Rs. 35 Lakhs to Rs. 59 crores.
In the commercial portfolio, they develop office and retail projects as income generating assets on lease model and sale model, with an increasing focus on the former. Company also develops office and retail projects across markets as standalone developments and in mixed-use format. Overseas, we are developing two residential projects in London.
Company focusses on branded realty and their brands include “CASA by Lodha” for affordable housing, the “Lodha” and “Lodha Luxury” brands for premium projects, and the “iThink”, “Lodha Excelus” and “Lodha Supremus” brands for their office spaces.
Company’s inhouse sales team is supported by a distribution network of multiple channels across India as well as key NRI markets such as Gulf Cooperation Council, United Kingdom, Hong Kong, Singapore and USA.
Note: For Latest Updates on Lodha Developers IPO, Please Click here!! (Macrotech Developers)
Lets take a Look at Company’s History:
Lodha Developers was founded in 1995 by our Promoter, Mangal Prabhat Lodha, who is now the chief mentor.
Company began their operations in Mumbai, developing affordable housing in the suburbs of Mumbai, and later diversified into other segments and regions in the MMR. As of December 31, 2017, they had completed projects with Developable Area of 50.49 million square feet.
Company’s Premium residential developments:
Company categorize their premium residential developments into luxury, high-end and aspirational. In the luxury category, they are developing several luxury apartment projects such as the World Towers at Lower Parel, Trump® Tower Mumbai at Worli and Lodha Altamount at Altamount Road.
In the high-end residential category, they are developing projects such as The Park at Worli, Lodha Venezia at Parel, Lodha Fiorenza at Goregaon and New Cuffe Parade at Wadala. In the aspirational residential category, they are developing several projects, including Lodha Eternis at Andheri, Lodha Luxuria Priva at Thane, Lodha Splendora at Thane and Lodha Belmondo at Pune.
Company’s Ongoing and Planned Residential Projects in India.
Company’s Commercial Portfolio:
In the commercial portfolio, their office space projects comprise IT campuses, high-end corporate offices and boutique office spaces, while their retail projects include malls and other high street retail shopping options to residents in their projects.
Company also plans to develop a 120-acre logistics and industrial park that is strategically located near the Jawaharlal Nehru Port and the proposed international airport in Navi Mumbai.
Company’s Ongoing and Planned Commercial Projects in India:
Company’s Land bank:
In addition to their ongoing and planned projects, as of December 31, 2017, Company had land reserves of approximately 4,450 acres for future development in the MMR with the potential to develop approximately 385 million square feet of Developable Area.
Company’s Overseas Operations:
Company’s overseas projects currently consist of projects in London, including Lincoln Square on Carey Street and 1 Grosvenor Square in Mayfair. These projects have achieved financial closure with development finance facilities tied up to meet future construction expenses. As of December 31, 2017, they have sold 114 units and achieved total Sales of GBP 277.65 million.
Company’s Financial and Operational metrics. (India Operations)
Management Team:
- Mr. Mukund Manohar Chitale (Designation: Independent Director and Chairman)
- Mr Abhishek Mangal Prabhat Lodha (Designation: Managing Director and Chief Executive Officer)
- Mr. Rajendra Narpatmal Lodha (Designation: Whole-Time Director)
Objectives of the Issue:
Offer for Sale:
- Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.
Fresh Issue:
- Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis.
- General corporate purposes.
Positives for the Company:
Strong Execution Track Record with Leadership Position.
As of December 31, 2017, Company had 37 ongoing projects, of which 35 projects were in India and two were in London. These projects accounted for a Developable Area of 33.80 million square feet, of which 31.95 million square feet represented projects located in the MMR.
As of December 31, 2017, they also had 22 planned projects in India with a Developable Area of 64.21 million square feet, of which 62.74 million square feet is located in the MMR.
Company is also a large affordable housing developer with a proven track record in this category. They have completed affordable housing projects in Thane and Dombivali with 20.80 million square feet of Saleable Area in the last five years.
As an early entrant in the affordable housing category, their large portfolio of affordable housing projects includes Palava (in Dombivali-Kalyan region), Amara (Thane), Upper Thane (Thane) and Codename Bulls Eye (Mira Road).
Strong Presence in the MMR, the Most Attractive Real Estate market in one of the Fastest Growing Economies.
The MMR is considered the most attractive real estate market in India, having the largest residential Sales in terms of value and the highest average sale price at launch, as well as a wide spectrum of income and demography.
Company’s market leadership, strong brand, existing land reserves, industry knowledge and regulatory environment know-how in the MMR will enable them to benefit from the expected increased real estate demand as the Government commits to significant infrastructure spending in the MMR.
Financials of the Company: (Consolidated)
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 31st Dec 17 |
|---|---|---|---|---|---|---|
| Revenue | 3521.9 | 4724.4 | 6269.5 | 8290.9 | 7957.3 | 6634.5 |
| Net Profit | 370.52 | 434.9 | 798.0 | 702.8 | 584.03 | 565.26 |
Note: For Latest Updates on Lodha Developers IPO, Please Click here!! (Macrotech Developers)
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Lodha Developers Ltd | 10 | 15.26 | TBA | 14.55% | 101.41 |
| DLF Limited | 2 | 3.89 | 54.43 | 2.87% | 135.69 |
| Oberoi Realty Ltd | 10 | 11.15 | 51.96 | 6.61% | 168.64 |
| Godrej Properties Ltd | 5 | 9.60 | 84.69 | 10.32% | 93.02 |
| Prestige Estates Projects Ltd | 10 | 7.20 | 42.53 | 8.11% | 88.73 |
| Sobha Limited | 10 | 16.59 | 33.17 | 6.08% | 272.92 |
| Brigade Enterprises Ltd | 10 | 13.50 | 18.60 | 8.74% | 154.55 |
Note: For Latest Updates on Lodha Developers IPO, Please Click here!! (Macrotech Developers)
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | Will be Updated |
| Issue Closes on:. | Will be Updated |
| Issue Price | Will be Updated |
| Retail Portion | Will be Updated |
| Face Value | Will be Updated |
| Minimum Lot | Will be Updated |
| Minimum Investment | Will be Updated |
| Issue Constitutes | Will be Updated |
| Issue Size | Will be Updated |
| Market Cap | Will be Updated |
| Listing at | NSE & BSE |
| Equity Shares Offered | Will be Updated |
| Equity Shares Prior to the Issue | 39,58,78,000 |
| Equity Shares after the Issue | Will be Updated |
Note: For Latest Updates on Lodha Developers IPO, Please Click here!! (Macrotech Developers)
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | Will be Updated |
| Initiation of Refunds | Will be Updated |
| Credit of Equity Shares: | Will be Updated |
| Listing Date: | Will be Updated |
Subscription Details:
| (Subscription-Category-Wise (no. of times) Till time : 00:00) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| QIB | ||||
| NII | ||||
| Retail | ||||
| Employee | ||||
| TOTAL |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 15.26 | Will be Updated | 14.55% | 101.41 |
Also Read: Difference between Portfolio Management Services (PMS) and Mutual Funds?
Grey Market Premium :
| Date | IPO | Price Band | Grey Market premium | Kostak Rates |
|---|---|---|---|---|
| 00/00/18 | Lodha Developers Ltd | Will be Updated | Will be Updated | Will be Updated |
| Check IPO Allotment Status: |
|---|
Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssue/ |
| Company Contact Info: |
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| Lodha Developers Limited 412, Floor – 4, 17G, Vardhaman Chamber Cawasji Patel Road, Horniman Circle Fort, Mumbai 400 001 Tel: +91 22 2302 4400 Fax: +91 22 2302 4550 E-mail: investorrelations@lodhagroup.com Website: www.lodhagroup.com |
| IPO Registrar Info: |
|---|
| Link Intime India Private Limited C 101, 247 Park L.B.S.Marg Vikhroli (West) Mumbai 400 083 Telephone: +91 22 49186200 Facscimile: +91 22 49186195 E-mail: lodha.ipo@linkintime.co.in Website: www.linkintime.co.in |
