Page 2 - Lodha Developers

Macrotech Developers likely to fend off near-term debt problems: Moody's

To proceed with its proposed bond, Macrotech will first have to raise about $118 million and deposit the proceeds in an escrow account, which is a condition precedent

M P Lodha India's richest realty tycoon, DLF's Rajiv at second spot: Report

Lodha Developers' M P Lodha and family has been named India's richest real estate entrepreneur with a wealth of Rs 31,960 crore followed by DLF's Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively, according to a report. Hurun Report and GROHE India on Monday released the third edition of GROHE Hurun India Real Estate Rich List 2019' featuring the richest real estate entrepreneurs in India. "With a wealth of Rs 31,960 crore, Mangal Prabhat Lodha & family of Macrotech Developers (earlier named Lodha Developers) retained the top spot in GROHE Hurun India Real Estate Rich List 2019 for the second consecutive year," the report said. Lodha family's wealth increased by 18 per cent during 2019 and was 12 per cent of the cumulative wealth of the remaining 99 Indians featured on the list. "At number two is Rajiv Singh of DLF (up one rank) with a wealth of Rs 25,080 crore up 42 per cent as compared to 2018," the report said adding that ...

Fitch too downgrades Macrotech Developers on low liquidity concerns

Fitch said the risks around Macrotech's ability to meet domestic debt maturities of Rs 2,000 crore, Rs 5,000 crore, and Rs 4,600 crore in FY20, FY21, and FY22, respectively, are rising

Rating downgrade by Moody's shows liquidity crunch at Lodha Developers

Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's upcoming debt maturities

Trump Tower developer Lodha battles bond slump amid cash crunch

Property companies face debt woes as funding stresses deepen

Lodha Developers plans to repay its debt, faces delay in asset sales

Lodha plans to repay £290 million (Rs 2,600 crore) from sales at the 48CS project in London for which it had taken the loan

Moody's downgrades Lodha Developers' outlook to 'stable' on weak sales

Lodha said the company would achieve Rs 9,500 crore of collections and it is also on track for net sales of about Rs 8,000 crore

Lodha Developers changes NCD terms, investors to get early interest payment

Investors will continue to get 9.5% interest on NCDs worth Rs 495 crore after completion of the moratorium period

Brexit makes Indian realty firm Lodha's plan to sell UK assets uncertain

With high debt on its balance sheet, Lodha plans to sell assets worth Rs 42 billion in London to repay loans taken from NBFCs in India

Lodha to check out of UK market, sell 2 London projects for Rs 42 billion

The Mumbai-based company had forayed into the London market in 2013 with the acquisition of the landmark MacDonald House

Lodha Developers sells Rs 42-bn real estate in H1, eyes Rs 90-bn FY19 sales

The company has a major presence in MMR and Pune, besides London where it is developing two prime properties

Lodha Developers gets Sebi's approval to launch Rs 55 billion IPO

The approval paves way for the second biggest IPO in the real estate sector after DLF which had raised close to Rs 92 billion in 2007

Lodha goes past DLF in terms of revenues for the first nine months of FY18

In the same period of 2016-17, Lodha's revenue was Rs 55.72 billion versus DLF's Rs 59.96 billion

Lodha Developers IPO looks to defy poor scorecard of realty companies

Its IPO will be the first by a real estate company in eight years and only the sixth Rs10-billion-plus offering by a home developer

Lodha Developers to soon file papers with Sebi for IPO, to raise Rs 55 bn

According to sources, the company is looking to raise about Rs 55 billion through its IPO, including pre-placement of shares

Real estate transaction cost needs to be brought down: Abhishek Lodha

The managing director of Mumbai-based Lodha Developers says it is a misnomer that real estate market is depressed; only the buyers are now shifting more towards quality homes

Lodha plans to raise up to $1 bn via IPO

The company had planned an IPO of Rs 2,800 crore in 2010, but it was shelved due to a weak stock market

Lodha Developers cuts debt to Rs 14,500 cr in Q1 on back of strong sales

Lodha Group has 31 ongoing projects in London, Mumbai, Pune, Bengaluru and Hyderabad

Lodha Developers to invest Rs 4300 cr in construction to boost deliveries

Infrastructure status to affordable housing will boost availability of cheaper finance

Moody's downgrades Lodha Developer's ratings

Ratings firm Moody's Investors Service has downgraded the corporate family rating of Mumbai based real estate company Lodha Developers to B1 from Ba3.Moody's has also downgraded the senior unsecured debt rating of the US dollar denominated bonds issued by Lodha Developers International Limited and guaranteed by Lodha Developers to B1 from Ba3.Ba3 ratings are assigned to those bonds which are considered non-investment grade. Moody's Corporate Family Ratings (CFR) are opinions of a corporate family's ability to honor all of itsfinancial obligations.Moody's said the outlook on the ratings is negative."The downgrade reflects our expectation that the company's credit metrics will fail to improve to a level more appropriate for its ratings over the next 12-18 months. The company's operating performance will remain well below our original expectations at the time we assigned the ratings for the first time in November 2014 and also below our reduced expectations in June 2015", says Vikas ...