Lodha Developers Limited — listed on the BSE and NSE and headquartered in Mumbai — was founded in 1980 by Mangal Prabhat Lodha. The company's portfolio spans over 40 projects that have delivered more than 60,000 homes primarily in Mumbai, Thane, Pune, Hyderabad, Bengaluru, and London. Its expansion into India's four largest residential markets has followed a deliberate sequence: consolidate dominance in the Mumbai Metropolitan Region first, then replicate the playbook city by city. Bengaluru and Pune came next. Gurugram — and specifically the Dwarka Expressway corridor — is now the chapter that follows.
Mumbai-based Lodha Developers is set to make its long-awaited debut in the Delhi-NCR market, with Managing Director and CEO Abhishek Lodha confirming that the company's first project in the region is expected to launch in Gurugram. The move marks a strategic expansion for India's largest listed real estate developer, which is also evaluating opportunities across other NCR micro-markets. The rationale for leading with Gurugram is direct: Abhishek Lodha has stated that Gurugram is probably more than 50% of the NCR market right now, and it is quite likely that the company will start off on the Gurugram side of the NCR.
Lodha formally announced its entry into the Delhi-NCR housing and commercial property market in mid-December 2025. The announcement came through MRG Group, the Gurugram-based developer and land partner, which confirmed the tie-up on December 16, 2025. Global real estate consultancy Cushman & Wakefield advised MRG Group on the transaction.
Lodha Developers has partnered with MRG Group to develop two real estate projects in Gurugram with a combined revenue potential of more than ₹3,600 crore. The tie-up marks the Mumbai-based developer's formal entry into the Delhi-NCR market. The developments will include premium residential and commercial assets in Gurugram.
Under the Joint Development Agreement structure, the two developers will jointly execute two marquee projects in Gurugram — one on the Dwarka Expressway corridor targeting premium high-rise towers in Sectors 100 to 110, and a second on Golf Course Extension Road positioned firmly in the ultra-luxury segment, complete with 7-star amenities and a world-class clubhouse.
Notably, Lodha chose a JDA model rather than outright land purchase — a capital-efficient approach that allows faster market entry while leveraging MRG's existing land holdings and deep local regulatory knowledge. MRG Group contributes strong local expertise, while Lodha Developers brings brand trust, execution capability, and design innovation — a combination that addresses both market gaps and buyer expectations.
MRG Group's Managing Director, Rajjath Goel, indicated that Lodha's track record in design quality and delivery brings strong value to the partnership, and that the collaboration reflects confidence in Gurugram's continued position as a preferred destination for aspirational homebuyers and businesses.
The developer expects this controlled entry to help it understand the region's consumer behaviour, regulatory environment, and supply-chain setup — a deliberate and steady approach that reflects Lodha's strategy in Pune and Bengaluru, where the company entered through smaller pilot phases before scaling up.
Abhishek Lodha stated during a July 2025 investors' call: "We expect to enter Delhi NCR in the next 12 months and hope to launch in fiscal 2027. The Delhi NCR is an important market for us to get into. We will be starting off with a pilot phase with a moderate number of projects and a moderate level of investment with a view to understanding better how the market operates and how we build out the supply chain for operations as well as sales."
Project launches — including the opening of bookings — are likely in the second half of 2026, consistent with Lodha's stated timeline of concluding land deals in Delhi-NCR within FY2025-26 and launching projects in the subsequent fiscal year.
While Lodha's undisputed stronghold remains the Mumbai Metropolitan Region and Pune, the developer has aggressively expanded into Bengaluru, Hyderabad, and the international market of London. In recent financial years, the company has consistently recorded pre-sales exceeding ₹14,500 crore, driven largely by surging demand in its premium and mid-income segments.
Notable projects include Lodha Altamount, Lodha World Towers, Lodha Bellissimo, Trump Tower Mumbai, and Lodha Park. The company is also credited for developing Palava, an integrated smart city in Dombivali near Mumbai. These reference points are relevant because they show the scale at which Lodha executes — from sub-₹1 crore mid-income units to trophy South Mumbai towers, each project deploys the same listed-company disclosure discipline and backward-integrated supply chain.
Global real estate consultant Cushman & Wakefield advised MRG Group on the transaction, adding institutional credibility and assurance for investors and buyers alike. For NCR buyers accustomed to evaluating developers on local delivery history, the listed-company reporting cycle — quarterly pre-sales disclosures, audited revenues, and analyst coverage — provides a different but equally useful accountability layer.
The Dwarka Expressway is a 29.1 km, 16-lane access-controlled highway linking Dwarka in Delhi to NH-48 at Gurugram's Kherki Daula — often dubbed India's first 16-lane expressway, built at a cost of around ₹8,662 crore. In March 2024, Prime Minister Narendra Modi inaugurated the partially-completed 18.9 km stretch in Haryana, and the entire route of the completed expressway became operational in June 2025.
The expressway offers direct connectivity to IGI Airport, Dwarka, New Gurgaon, and the Kherki Daula Toll Plaza, with a dedicated tunnel link to the airport. The expressway cuts travel time between major business centers by up to 40%, turning what used to be hour-long commutes into quick 20- to 30-minute trips.
Sectors 100 to 110 — the zone Lodha is targeting — sit along the Gurugram stretch of the expressway that passes through some of the corridor's most active development clusters. The expressway passes through Sectors 102, 103, 104, 105, 106, 109, 110, 111, 112, and 113 in Gurugram. This zone is already home to launches by M3M, Sobha, Signature Global, and Elan Group, making it the single most competitive premium stretch in NCR right now.
The Dwarka Expressway is being watched closely: in Q3 2025, the corridor accounted for 20% of total Gurugram launches — and with Lodha now officially in the mix, that concentration is likely to intensify through 2026 and 2027.
Property prices on Dwarka Expressway nearly doubled from ₹9,434 per sq ft in 2020 to ₹18,668 per sq ft in 2024. A PropEquity report noted that out of approximately 42,800 units launched along Dwarka Expressway since 2010, over 41,800 units had already been sold by 2024. That absorption rate — across all price segments and product types — is the underlying data point that confirmed Gurugram's demand depth to Lodha's leadership.
A JLL report found 11,270 units launched in 2023, increasing launches by 166% over 2022 and accounting for 69% of Gurgaon launches. SWAMIH-supported projects on the corridor have seen per sq ft prices rise from ₹6,000–6,500 to ₹13,500–15,000 after completion and metro connectivity.
Infrastructure additions continue to strengthen the case. An upcoming 15.2 km metro corridor from Millennium City Centre to Cyber City includes a 1.8 km spur to Dwarka Expressway, expected to commence by September 2025 and complete in roughly 30 months. Two flyovers at Ambedkar Chowk and Dadi Sati Chowk aim to decongest the corridor by mid-2027, and toll relocation at Kherki Daula to Pachgaon is planned by early 2026, delivering toll relief for commuters.
