Lodha Developers Acquires 80% Stake in Pune's SRPL for Rs 294 Cr, Expands Business

• Lodha Developers Ltd acquired an 80% equity stake in Pune-based Solidrise Realty Pvt Ltd (SRPL) for Rs 294.07 crore.
• The acquisition is part of Lodha Developers' expansion strategy, making SRPL its subsidiary.
• SRPL operates in the real estate business in Pune.
• Lodha Developers reported a 1% increase in consolidated net profit to Rs 956.9 crore in Q3 FY24.
• The company recently acquired 5 land parcels in Mumbai, Delhi-NCR, and Bengaluru with an estimated sales value of Rs 34,000 crore.