Real estate scion Abhinandan Lodha has rebranded the holding company for his businesses, Lodha Ventures, into Abhinandan Ventures. The rebranded company will continue to own and run its businesses, including the realty firm House of Abhinandan Lodha, Tomorrow Capital, as well as educational and corporate social responsibility initiatives, it said in a release.
"Over the years, our group has become synonymous with innovation, and we now would like to capitalise on that equity with a name that truly reflects our identity and evolution. This shift is intended to further reflect the strength and depth of our presence across sectors, from private equity to branded land and differentiated real estate development, among others," Abhinandan Lodha said in the release.
In a clarification to the release, the company added that it has applied for a cancellation of the "Lodha Ventures" trademark, in accordance with the settlement that Abhinandan reached with his elder brother Abhishek, the managing director of Macrotech Developers, better known as Lodha Group, after the latter filed a brand infringement suit against Abhinandan in January.
"The rebranding is more related to the fact that the House of Abhinandan Lodha has pioneered plotted developments as a viable and thriving realty business, and the credit should go to Abhinandan Lodha for starting the venture from scratch and taking it to the position that it is currently in the market. This rebranding will also help in better brand recognition among the general public," said a source in what is now Abhinandan Ventures added.
The two brothers settled the case out-of-court in April after mediation by retired Supreme Court Justice RV Raveendran, agreeing to end proceedings at the Bombay High Court, and also agreed to clearer distinctions between the businesses of both brothers, including branding.
While it has generally focused on plotted developments in the Mumbai metropolitan area, Ayodhya, and elsewhere, the House of Abhinandan Lodha has now ventured into vertical developments, starting with three projects. That includes two projects in south Mumbai- including what was the American Centre near Churchgate, as well as a large joint development with developers Mittal Builders in Naigaon, on the northern fringes of the Mumbai metropolitan area.
The three projects have a collective development potential of 3.1 million square feet, with a revenue potential of Rs 3,500 crore.
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