Lodha Developers eyes ₹3,000 crore annuity income, plans 1 GW data centre at Palava, Mumbai

Mumbai: Lodha Developers is looking to grow its annuity income 10x to over ₹3,000 crore over next six years led by its data centre, retail, warehousing and select offices developments, a top company executive said. Of this, the key contribution will come from the company's plan to develop a 1 GW of data centre on built-to-suit basis (BTS) at Palava, near Mumbai, over 100 acres, generating sizable rental income.

The company plans to invest ₹13,000-15,000 crore, excluding land costs, in the data centre business. To support this investment, it will monetise Palava land parcels that can accommodate up to 2 GW of data centre capacity. The developer recently signed a memorandum of understanding with the government of Maharashtra to set up a green data centre park in Palava spread across 400 acres.



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The listed developer has reported 24% on-year rise in net profit of ₹3,431 crore for the quarter ended March. Total revenue for the year grew 21% to ₹16,680 crore supported by its best quarterly and annual pre-sales performance. For the fourth quarter, the listed company posted net profit of ₹1,010 crore, up 9% from a year ago. Total revenue grew 12% year-on-year to ₹4,710 crore.

"This performance has come through despite multiple geopolitical headwinds in the last 12 months. This is the first time that we have achieved more than ₹20,000 crore of pre-sales for the year and yet, our market share is only 3.5% (in value terms) out of primary housing sales in top six cities in India, indicating long growth runway," said Abhishek Lodha, MD, Lodha Developers.


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The developer reduced its net debt by ₹800 crore to ₹5,377 crore on the back of rising collections and operational efficiencies, the company said. The company's net margin for the year stood at 20.0% as against 19.5% in previous year, touching 20% for the first time.