Lodha Developers plans to raise ₹9,000 by selling Palava land to hyperscalers
Lodha Developers Ltd., which has allocated 660 acres of land to build data centers in Palava, a suburb of Mumbai. ₹9,000 crore was made by selling 150 acres of land, its managing director Abhishek Lodha said in an analyst call on Monday.
Mumbai-based developer is watching ₹Annual sale of land worth Rs 2,000-3,000 crore to hyperscalers as land prices rise due to strong demand for suitable data center sites.
“India has emerged as a strong location for data centres. We currently have three leading operators in the (Green Data Centre) Park. We are looking to expand further and hope to increase capacity. The capacity is attracting more demand,” said Abhishek Lodha.
Lodha sold around 132 acres in the Green Data Center Park in Palava to Amazon Web Services and STT Data Centers in the last two years.
In the June quarter, it sold 30 acres of land to Digital Edge India, a joint venture between Digital Edge (Singapore) and the National Investment and Infrastructure Fund (NIIF), for more than 100,000. ₹42 crore per acre.
Lodha has around 3,700 acres in Palava and Upper Thane in the Mumbai Metropolitan Region (MMR), according to its latest investor presentation.
The demand and value of this land is expected to continue to increase with various infrastructure projects in and around the Palava region, including high-speed train connectivity.
rental income
Lodha Developers, which has one of the largest commercial land banks among real estate developers, plans to use most of the land sale proceeds to develop 1 gigawatt (GW) of tailored data center power envelope capacity in an area of approximately 90 acres. It will lease the space to data center operators or hyperscalers, which will increase its annual revenue.
Reinforced shells are bare, ready-to-use buildings equipped with basic infrastructure such as power supply and cooling systems.
The company’s rental income has been realized so far ₹Expected to rise significantly to 300 crore by the end of 2025-26 ₹3,000 crore in six years. The bulk of this will be generated from the data center business.
Lodha Developers, one of the four largest residential developers in the country, reports a two-fold increase in net profit ₹1,373 crore for the June quarter, driven by strong growth in revenue and cash flow. Revenue from operations increased by 43% year-on-year ₹4,996.7 crore compared to the previous year quarter.
Even though there was no new launch, there was a 4% increase in pre-sales. ₹4,629 crore in the first quarter. Developer targets ₹24,000 crore pre-sales from housing projects occurred in the current financial year. ₹20,530 crore in FY26. Net debt also decreased ₹446 crore ₹4,931 crore during the quarter.
Its business is broadly divided into three sectors: DevCo (housing development), RentCo (annuity or rental business) and LandCo.
