Released on: April 9, 2008, 5:42 am

Press Release Author: varma

Industry: Real Estate

Press Release Summary: Real estate developer Lodha Group on Tuesday said it plans to
raise Rs 8,000 crore from the primary market to fund its various projects and expand
its operations. \"We are planning to raise Rs 8,000 crore through initial public
offer in the third quarter of this fiscal and enter new markets Pune and Hyderabad,\"
Lodha Group Senior Vice-President R Karthik told reporters.


Press Release Body: Real estate developer Lodha Group on Tuesday said it plans to
raise Rs 8,000 crore from the primary market to fund its various projects and expand
its operations. \"We are planning to raise Rs 8,000 crore through initial public
offer in the third quarter of this fiscal and enter new markets Pune and Hyderabad,\"
Lodha Group Senior Vice-President R Karthik told reporters.

Lodha Group is developing 27 projects in Mumbai and Thane. Its profile consists of
60 per cent residential projects, 30 per cent commercial and 10 per cent retail. At
Lodha, we understand the demands of ultra-modern living and are committed to focus
our endeavours towards creating landmarks of exemplary design, luxury and quality
that benchmark the highest standards of international living,\" he said.

Last year, Deutsche Bank invested USD 425 million in Lodha Group. JP Morgan has also
invested in one of Lodha\'s luxury apartments. The group is promoted by Mangal
Prabhat Lodha, who is also the Chairman and Managing Director of the group.
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