Executives in the offices of the Lodha Group, Mumbai's premier real estate developer, describe their managing director, Abhishek Lodha, as a 'workaholic'. He works late till 1 or 2 am and then beats them to the office in the morning. Lately, however, they are missing his constant presence in the office in Mumbai's Mahalaxmi area. Lodha has been travelling to London frequently these days after the group bought properties worth Rs 3,900 crore in the British capital.
The acquisitions in Britain have taken everyone by surprise, but Lodha is confident about the new foray. The group seems to have a serious plan for the London realty market, which sells 200,000 apartments a year and is growing at the rate of 6 per cent annually. The 34-year-old MD has already opened a 1,000-sq ft office at Chester Square in London and hired Tyler Goodwin, former JP Morgan Global Assets Management managing director, as chief executive for the UK business. Insiders believe that either Lodha or his younger brother, Abhinandan, who is deputy managing director of the group, will relocate to London to look after affairs there.
Many questioned the wisdom of expanding in London. Lodha's riposte to naysayers soon after buying the Rs 3,000 crore MacDonald House late last year was confident: "When we bought the DLF plot, everyone wondered how we would manage it. Whatever we have done is there for everyone to see. To read more please visit - business-standard.com
The acquisitions in Britain have taken everyone by surprise, but Lodha is confident about the new foray. The group seems to have a serious plan for the London realty market, which sells 200,000 apartments a year and is growing at the rate of 6 per cent annually. The 34-year-old MD has already opened a 1,000-sq ft office at Chester Square in London and hired Tyler Goodwin, former JP Morgan Global Assets Management managing director, as chief executive for the UK business. Insiders believe that either Lodha or his younger brother, Abhinandan, who is deputy managing director of the group, will relocate to London to look after affairs there.
Many questioned the wisdom of expanding in London. Lodha's riposte to naysayers soon after buying the Rs 3,000 crore MacDonald House late last year was confident: "When we bought the DLF plot, everyone wondered how we would manage it. Whatever we have done is there for everyone to see. To read more please visit - business-standard.com
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