The House of Abhinandan Lodha (HoABL), which is into plotted developments, on Wednesday announced its foray into vertical real estate development. The company, helmed by 43-year-old Abhinandan Lodha, said it will develop three projects in Mumbai — American Culture Center in Marine Lines, a project overlooking Chowpatty beach, and a joint development agreement (JDA) with Mittal Builders in Naigaon.
HoABL’s announcement comes days after the Lodha Brothers — Abhishek and Abhinandan, sons of Maharashtra minister Mangal Prabhat Lodha, announced a settlement on the Lodha brand dispute.
With a total development potential of 3.1 million square feet, the company expects to generate revenue of Rs 3,500 crore and plans to invest around Rs 2,500 crore. All three projects are slated for launch in Q2 of FY 2025–26 and are expected to be completed over the following five years.
The funding will be a mix of internal accruals and debt, primarily for working capital and pre-sales. HoABL plans to develop a commercial property on the site of the former American Culture Center in Marine Lines, which it acquired in December 2024. This project has a development potential of nearly 60,000 sq ft. The Chowpatty project, positioned as a premium development, will span around 50,000 sq ft. The Naigaon project will be an integrated township with a development potential of over 3 million sq ft.
Abhinandan Lodha, chairman of HoABL, said: “With our big bang foray into vertical development—from South Mumbai to North MMR—we aim to address gaps in vertical real estate through multiple projects that prioritise timely delivery, premium lifestyles, customer centricity and modern infrastructure designed around the needs of today’s home buyers. “
Lodha said that from Marine Lines to Naigaon, their teams are aligned on strict timelines, regulatory readiness, and vendor coordination to ensure seamless delivery.
“Each location has its own context and energy — and our design language is crafted to reflect that. Whether the Luxury development at New Marine Lines and Chowpatty or curating modern, liveable spaces in Naigaon, our goal is to deliver inspiring environments that resonate deeply with future residents,” he said.
Established in 2020, HoABL is targeting a business size of Rs 10,000 crore by FY30, with an annual growth rate of 30%, Abhinandan Lodha said in a recent interview with FE. The company is projecting revenues of Rs 2,200 crore in FY25 and around Rs 3,000 crore in FY26. It is also planning to acquire land in 13 new locations for future plotted developments.
Abhinandan Lodha set up Lodha Ventures in 2015 following a family settlement with his brother Abhishek, and later launched the PE fund Tomorrow Capital in 2018. The five-year non-compete agreement between the brothers, restricting real estate development in the Mumbai and London markets, expired in 2022.
Macrotech Developers, run by Abhishek Lodha, 45, has a market cap of 136,274 crore and is the second largest listed developer.