Abhishek Lodha, Managing Director and CEO of listed real estate firm Macrotech Developers, also known as Lodha Group, said that the company has concluded its pilot phase in Bengaluru and is targeting a market share of 15% in the IT city by end of decade.
The company’s pilot phase in "Bengaluru has been concluded successfully. As you are aware, when we entered Bengaluru in mid-2021, we had mentioned that we would be in pilot phase for 2-3 years during which, we will focus on building a strong local operating team, understanding local operating nuances and making sure that we can showcase our delivery to consumers," Lodha said during the Q2FY25 earnings call.
Abhishek Lodha said that in terms of moving from pilot to growth phase, “We expect to move from our present market share of between 2% to 3% of sales in Bengaluru in the last fiscal when we did about ₹14 billion of sales to move to more to 15% of the Bengaluru market by the end of the decade.”
"We are hoping to gain about 2% points of share on average each year. So, we would probably expect this year to be higher than last year in terms of pre-sales," he said.