Lodha Developers has entered the Delhi-NCR market with Lodha Pantheon, a 4 lakh sq ft Grade A++ office project on Gurugram’s Golf Course Road that the company estimates will cost ₹1,100-1,200 crore.
The Mumbai-based real estate firm will develop the commercial complex on a 1.2-acre site, with the project planned across 27 floors. Lodha Developers Executive Director-Finance Sushil Modi told PTI that the company would sell office spaces in the development rather than operate it as a conventional long-term leasing asset.
“We have launched our first project in Delhi-NCR. We are developing an iconic office complex on prime Golf Course Road. The total saleable area is 4 lakh sq ft across 27 floors,” Modi said.
The project will include floor plates ranging from 13,000-15,000 sq ft and 20,000-25,000 sq ft, according to the company. Modi said Lodha had received a good initial response from customers and that business houses in Gurugram were showing strong demand for purchased office workspaces instead of taking premises on long-term leases.
The project places Lodha in one of Gurugram’s most expensive commercial and residential locations. Modi described Golf Course Road as the city’s most prime location, with a significant premium for both residential and commercial properties. The corridor has developed into a major office and mixed-use district, making the project an entry point into a market where office demand is closely linked to corporate expansion and the availability of large, high-grade workspaces.
Lodha’s entry follows a joint development agreement signed last year with Gurugram-based MRG Group for two projects in the city. The agreement covers one commercial and one residential development. The company is also targeting the launch of a housing project on Sohna Road in the fourth quarter of the current fiscal year.
Modi said the two Gurugram developments would serve as pilot projects for Lodha to understand the Delhi-NCR market before expanding its business in the region. The approach gives the company an initial presence across both office and residential segments, while limiting its first phase of expansion to two locations within Gurugram.
The expansion comes as Lodha reports stronger sales across its existing markets. The developer recorded sales bookings of ₹5,037 crore in the second quarter of the current fiscal year, a 10% increase from the year-ago period. Its sales bookings for the first six months of the fiscal year rose 7% to ₹9,670 crore, according to an investor presentation.
Lodha Developers has set a sales-booking target of ₹24,000 crore for the current fiscal year, compared with ₹20,530 crore in the preceding 2025-26 financial year. The company reported consolidated net profit of ₹1,013.5 crore for the quarter ended September, up 28% from ₹789.8 crore a year earlier. Total income increased to ₹4,584.9 crore from ₹3,878.9 crore during the same period.
The company currently has a significant presence in the Mumbai Metropolitan Region, Pune and Bengaluru, and sells properties under the Lodha brand. Its next stated milestone in Delhi-NCR is the planned launch of the Sohna Road housing project in the fourth quarter of the current fiscal year.
