Lodha aims to turn zero-debt company in 3 years

Group, India’s largest real estate developer in terms of property sales, is aiming to turn a zero-debt company over the next three years with its focus on mid-income, affordable housing and industrial and logistics business, managing director Abhishek Lodha said. Rising demand for housing in the backdrop of the second wave of Covid-19 is also expected to drive sales of established grade A developers with sound financials, he said.

“We are approaching a better level of debt reduction and we are well on track to lead a situation where our debt to equity in 2022 will be 1:1 or better. We are collectively working towards almost zero debt or net cash positive company by FY2024,” Lodha told ET in an exclusive interaction.