Lodha Developers signs 10-acre slum redevelopment project in Mumbai

Bengaluru: Real estate firm Lodha Developers Ltd has signed a joint development agreement with Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd to develop around 10.26 acres of land in Mumbai’s Parel-Sewree area.

The agreement was registered on February 11, ₹365 crore, according to documents accessed by real estate data analytics platform CRE Matrix.

Lodha and Sahana will build rehabilitation buildings for existing residents and then build towers for sale on the land.

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The total area consists of two main parcels with multiple housing estates and is a slum redevelopment project proposed under the Slum Rehabilitation Authority (SRA), according to documents. For example, Plot A has 1216 slum dwellers grouped into 11 communities.

Mumbai, where land is scarce, is witnessing a redevelopment spree with top developers signing projects to redevelop old housing societies and slums.

“This joint development agreement in the Sewree-Parel belt ₹365 crore and ₹“Rs 37 crore stamp duty reflects sustained corporate interest in Mumbai’s eastern corridor,” said Abhishek Kiran Gupta, Chief Executive Officer, CRE Matrix. “Data from CRE Matrix shows stable land value resilience in infrastructure-led micro markets despite high acquisition costs, signaling continued long-term confidence in Mumbai’s redevelopment-led housing demand.”

Lodha Developers declined to comment on mat. Sahana Group could not immediately be reached.

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Sudhakar Shetty-led Sahana Group is known for taking up slum redevelopment projects in Mumbai and has partnered with various developers in the past, including Oberoi Realty.

As part of its strategy, Lodha Developers acquires land through direct acquisitions and joint development agreements with land partners.

For example, it has a project in Mumbai’s Malad suburb (west) under a revenue and area sharing agreement with Valor Estate Ltd.

Lodha Developers added five new projects with gross development value (GDV) in the end-December quarter. ₹33,800 crore in Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Bengaluru.

The company reported a 14.4% year-over-year increase in operating income. ₹4,672.5 crore and 1.36% increase in net profit. ₹957.7 crore in the December quarter.
It recorded its best quarterly presale or sales bookings ever. ₹5,620 crore in the third quarter of 2025-26, up 25% from the previous year. Pre-sales for the first nine months of FY26 were as follows: ₹14,640 crore.

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The developer has a significant launch pipeline planned for the ongoing January-March quarter, which is expected to support hitting its full-year pre-sales guidance. ₹21,000 crore.

While the overall real estate market is showing some signs of stalling, the nation’s four best-selling developers continue to sell well. India’s four largest developers (DLF Ltd, Godrej Properties Ltd, Lodha Developers and Prestige Estates Projects Ltd) are collectively aiming to crossover ₹1 trillion home sales in 2025-26, the strongest year ever for branded players.