Lodha Developers will invest approximately ₹1,100–1,200 crore to develop a Grade A commercial office complex on Golf Course Road in Gurugram, marking the company’s entry into the Delhi-NCR real estate market. The project, named Lodha Pantheon, will have a saleable area of 4 lakh sq ft spread across 27 floors. The company plans to sell office spaces in the development, targeting businesses and corporate occupiers looking to own premium office properties.
According to Sushil Modi, Executive Director-Finance at Lodha Developers Ltd, the project is being developed across 1.2 acres and has already received a positive initial response from prospective buyers. The development will feature large office floor plates designed to accommodate businesses with different space requirements.
The office complex will offer floor plates ranging from 13,000 sq ft to 15,000 sq ft, with larger configurations of approximately 20,000–25,000 sq ft. The company is positioning the project as a premium commercial development in one of Gurugram’s established business locations.
Demand for Premium Office Ownership in Gurugram
Golf Course Road is among Gurugram’s prominent commercial and residential locations, commanding premium property values due to its connectivity, business presence and established infrastructure.
According to Modi, there is considerable demand for premium office spaces in Gurugram from business houses that prefer purchasing workspaces rather than committing to long-term leasing arrangements. Lodha Developers is seeking to address this demand through its new commercial development.
The decision to enter the Delhi-NCR market follows the company’s joint development agreement with MRG Group last year for two projects in Gurugram, covering commercial and residential segments.
Apart from the Golf Course Road office complex, Lodha Developers is planning to launch a residential project on Sohna Road in Gurugram during the fourth quarter of the current financial year. These two developments will serve as pilot projects for the company to understand the local property market, assess customer demand and evaluate opportunities before expanding its operations across Delhi-NCR.
Expansion Beyond Established Markets
Lodha Developers has an established presence in the Mumbai Metropolitan Region (MMR), Pune and Bengaluru, where it develops residential and commercial properties under the Lodha name. Its entry into Gurugram represents an expansion into another major real estate market, with the company initially focusing on premium commercial and residential developments.
The expansion comes amid growth in the company’s sales performance. Lodha Developers reported a 10% increase in sales bookings to ₹5,037 crore during the second quarter of FY2026-27, compared with the corresponding period of the previous financial year.
Its sales bookings for the first six months of the current financial year increased 7% to ₹9,670 crore, according to the company’s investor presentation.
The developer has set an annual sales booking target of ₹24,000 crore for FY2026-27, compared with ₹20,530 crore recorded in FY2025-26.
Financial Performance and Development Portfolio
For the quarter ended September 2026, Lodha Developers reported a 28% increase in consolidated net profit to ₹1,013.5 crore, compared with ₹789.8 crore in the corresponding quarter of the previous year. Its total income increased to ₹4,584.9 crore from ₹3,878.9 crore during the same period.
Since its inception, the company has completed more than 100 million sq ft of development across various projects.
With the launch of Lodha Pantheon and the proposed Sohna Road residential development, the company is beginning its expansion into Delhi-NCR through two projects in Gurugram. Their performance is expected to help the developer assess market conditions and determine its future investment and development strategy in the region.
