NEW DELHI: Lodha Developers has entered into a share purchase agreement to acquire 80% equity stake in Solidrise Realty (SRPL) for ₹294.07 crore.
Post acquisition, SRPL will become a subsidiary of the company. It is into real estate business in Pune.
The company has been acquired to expand into Pune, it said in the regulatory filing.
In its earnings report for Q3 FY26, Abhishek Lodha, managing director and chief executive officer of the company said we added about ₹340 billion worth of gross development value (GDV) through business development of new projects, including 2 projects in our pilot phase in NCR. With this, we are approximately reaching almost ₹600 billion of GDV added this year.
“As we’ve noted in the past, our entry into any new market follows a two-step process. The first stage being the pilot stage, wherein we focus on starting a limited number of projects ideally on a capital-light joint development model, learning about the marketplace, building a strong independent team on the ground. Once we are able to do this and establish that the market is right for us, both from a brand as well as a profitability perspective, we can then scale up in what we call growth phase.
We are now starting the pilot phase in NCR. We have signed up two locations with a total GDV of about ₹33 billion, and we expect to start the sales of this project over the next 12 months,” said Lodha.
