Lodha Developers has entered into a share purchase agreement to acquire an 80% equity stake in Solidrise Realty (SRPL) for ₹294.07 crore. Following the acquisition, SRPL will be transformed into a subsidiary of the company.
The firm operates within the real estate sector in Pune. The acquisition aims to facilitate the company’s expansion into Pune, as stated in the regulatory filing. In the earnings report for Q3 FY26, Abhishek Lodha, the managing director and chief executive officer of the company, mentioned that they have added approximately ₹340 billion in gross development value (GDV) through the development of new projects, which includes two projects currently in the pilot phase in NCR.
Consequently, they are nearing a total of nearly ₹600 billion in GDV added this year. “As we have indicated previously, our entry into any new market adheres to a two-step process. The initial stage is the pilot phase, where we concentrate on launching a limited number of projects, ideally utilizing a capital-light joint development model, gaining insights into the marketplace, and establishing a robust independent team on the ground.
Once we successfully accomplish this and confirm that the market is suitable for us, both in terms of brand presence and profitability, we can then proceed to scale up during what we refer to as the growth phase. We are currently initiating the pilot phase in NCR. We have secured two locations with a combined GDV of approximately ₹33 billion, and we anticipate commencing sales for this project within the next 12 months,” Lodha stated.
