Lodha Developers Enters Delhi-NCR Market With ₹1,200 Crore Office Complex in Gurugram

Real estate firm Lodha Developers is investing approximately ₹1,100 to ₹1,200 crore to build an office complex on Golf Course Road in Gurugram, marking the company's entry into the Delhi-NCR property market. The development was disclosed by a senior company official during an interview.

Last year, the Mumbai-based developer entered into a joint development agreement with MRG Group for two projects in Gurugram, covering both commercial and residential segments. The newly launched commercial project, named 'Lodha Pantheon', is spread across 1.2 acres and comprises 4 lakh sq ft of saleable area distributed over 27 floors. Sushil Modi, Executive Director-Finance at Lodha Developers Ltd, stated that the company will sell office spaces within this Grade A++ commercial project.

According to the company, the floor plates range from 13,000 to 15,000 sq ft and 20,000 to 25,000 sq ft. Modi noted that the project has received a positive initial response from customers, driven by high demand from business houses looking to purchase workspaces rather than entering into long-term leases. Golf Course Road is recognized as a prime location in Gurugram, commanding significant premiums for both commercial and residential properties.

In addition to the commercial project, Lodha Developers is targeting the launch of a housing project on Sohna Road in Gurugram during the fourth quarter of the current fiscal year. These two upcoming developments are planned as pilot projects to help the company understand the Delhi-NCR market dynamics before considering broader expansion.

Lodha Developers currently maintains a strong operational presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, selling properties under the 'Lodha' brand. Since its inception, the company has completed more than 100 million sq ft of area across various projects.

On the financial front, Lodha Developers recently reported a 10 percent increase in sales bookings, reaching ₹5,037 crore in the second quarter of the fiscal year, supported by robust housing demand. For the first six months of the fiscal year, pre-sales rose 7 percent to ₹9,670 crore. The company has set a target of achieving ₹24,000 crore in sales bookings for the current financial year, compared to ₹20,530 crore in the preceding 2025-26 financial year.

Additionally, the company reported a 28 percent increase in consolidated net profit, reaching ₹1,013.5 crore for the quarter ended September, up from ₹789.8 crore in the corresponding period of the previous year. Total income for the second quarter rose to ₹4,584.9 crore from ₹3,878.9 crore in the same period last year.

"Lodha Developers' entry into the Delhi-NCR market via a prime location like Golf Course Road in Gurugram demonstrates a calculated and strategic geographic expansion. By targeting both commercial ownership demand and upcoming residential segments through pilot projects, the company is effectively testing the market ground while leveraging its strong financial performance. This methodical approach allows established regional players to scale successfully into competitive new territories." — Dr. Shishir Gupta, Founder & CEO, StartupLanes