HoABL Announces ₹2,500 Crore Investment Plan to Enter Mumbai's Vertical Real Estate Market Across Three Projects
HoABL Announces Strategic Entry into Mumbai's Vertical Real Estate
The House of Abhinandan Lodha (HoABL) officially marks its entry into the city's vertical real estate market with a ₹2,500 crore investment, pivoting from its legendary success in branded land to high-rise development.
The expansion targets three distinct micro-markets: Marine Lines, Chowpatty, and Naigaon. The projects span a total development potential of 3.1 million square feet, with HoABL eyeing ₹3,500 crore in projected revenue.
Marine Lines: American Culture Center Commercial Landmark
Purchased for ₹56 crore in December 2024, the ground-plus-7-storey structure in Marine Lines boasts breathtaking views of the Mumbai Harbour and Marine Drive. The American Culture Center project in Marine Lines will be a seven-storey commercial development with a 60,000 sq. ft. development potential, expected to become an iconic address for global organizations.
Marine Lines is a premium residential neighbourhood in South Mumbai that overlooks the Arabian Sea and is located on the Mumbai Suburban Railway's Western Line. It is one of India's most expensive areas with multi-story apartments and individual bungalows. The area is characterised by a seaside alameda, close proximity to employment hubs and social amenities, and seamless connectivity to the rest of Mumbai.
Chowpatty: Ultra-Premium Residential Development
The Chowpatty project redefines the South Mumbai residential experience with an ultra-premium residential tower offering roughly 50,000 sq. ft. of high-end living space. The development features world-class aesthetics and breathtaking sea views.
Located near Girgaon Chowpatty, this premium residential development is designed to offer around 50,000 sq. ft. of luxury living space, capitalizing on its prime location and scenic surroundings.
Naigaon: Integrated Township with Mittal Builders
The most ambitious of the three is the 3-million sq. ft. integrated township in Naigaon. In collaboration with Mittal Builders, HoABL is crafting a "Growth Housing" model. This project features over 4,600 apartments and high-street retail zones, aiming to provide a gated-community lifestyle that was previously reserved for luxury segments.
The Naigaon project benefits from Metro Line 13 connectivity, positioned in a high-growth corridor.
Funding and Execution Timeline
The projects are backed by a ₹2,500 crore investment, sourced via a mix of internal accruals and structured debt, optimized for pre-sales and working capital requirements. The funding model will combine internal accruals and debt financing, with a cautious debt exposure not exceeding ₹250–300 crore.
All three projects are scheduled to launch from Q2 of FY 2025-26, with a five-year development window. Each initiative focuses heavily on timely execution, regulatory preparedness, and vendor collaboration.
Strategic Expansion Beyond Branded Land
HoABL's pivot toward vertical development stems from its success in horizontal land projects. According to Abhinandan Lodha, chairman of HoABL, the firm initially chose to focus on horizontal land due to the untapped scope for innovation. Having now built a strong brand in that space, the company feels prepared to bring the same innovation, tech-enabled execution, and customer-centric ethos into high-rise construction.
The strategic timing of this expansion aligns with the expiration of a non-compete agreement with Macrotech Developers in 2022.
HoABL, headquartered in Mumbai and founded in 2020 by Abhinandan Lodha, develops residential plotted land projects. As of 2024, it reported operations across 16 locations in India, including Goa, Himachal Pradesh, Maharashtra, Punjab, and Uttar Pradesh. According to company reports, HoABL has a portfolio of over 1,000 acres of plotted developments, with 13 million square feet of land sold and an additional 34 million square feet in the development pipeline.
Broader Vision for Urban Real Estate
This foray into Mumbai's vertical real estate segment aligns with HoABL's long-term strategy of expanding into cities like Amritsar, Nagpur, and Vrindavan. The company sees tremendous room for innovation, especially in affordable and ultra-premium housing segments.
HoABL holds a land bank of around 3 million sq. ft. in Mumbai and plans to expand further as opportunities arise. It aims to balance its portfolio between vertical and horizontal projects within the next few years, targeting a consistent 30% CAGR growth rate. The goal is to generate equal revenue streams from both segments within two to three years.
The firm's business model utilizes a digital-only model, where all transactions are conducted through virtual platforms.