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The House of Abhinandan Lodha to invest Rs 3,000 crore in Uttar Pradesh

Rs 1,200 crore will be invested in  Ayodhya, the company said in a statement

The House of Abhinandan Lodha, a branded land developer, has pledged Rs 3,000 crore investment in Uttar Pradesh ahead of the UP Global Investors Summit 2023. The brand, which is part of Abhinandan Lodha-led Lodha Ventures, will launch housing projects in Ayodhya, Varanasi and Gorakhpur. From this, Rs 1,200 crore will be invested in Ayodhya alone, a company statement said.

“The infrastructure sector in UP is witnessing exponential growth. Due to concerted efforts by UP CM Shri Yogi Adityanath to ensure ease of business through favourable policies and great governance, investment opportunities have become increasingly lucrative and rewarding. With a vision of making land a trusted asset class and a hassle-free wealth generation source, we have committed to invest in UP to develop integrated housing townships in key towns of Ayodhya, Varanasi and Gorakhpur,”  said Abhinandan Lodha, Managing Director, The House of Abhinandan Lodha.

“Our experience so far of investing in Uttar Pradesh has been exemplary. Due to this, we intend to make disproportionate investments in the state,” he said.

The House of Abhinandan Lodha is on track to cross Rs 1,000 crore in net sales by March 2023. The company has sold 3.3 million sq ft of land so far across popular destinations like Dapoli, Anjarle, and Foothills of Matheran in Maharashtra. In FY 23-24, HoABL will deliver 6 million sq ft of space to the customer base.

Moneycontrol News
first published: Jan 18, 2023 04:14 pm