In August 2014, at a fancy red carpet event at Four Seasons Mumbai, which looked nothing less than a Hollywood movie premiere with golden barricades on the sides of the red carpet and glasses of bubbly being passed around in sleek glasses, sat the current President of the United States. Back then Donald Trump, more famous for his TV show The Apprentice and his real estate business, was flanked by son Trump Junior. And there was the man who had brought the two to the city and was to develop their Trump Tower in Mumbai: Abhishek Lodha, nextgen scion and managing director and CEO of the erstwhile Lodha Developers Ltd, officially Macrotech Developers Ltd since May 2019.
Two years before, in 2012, Lodha had swooped in to acquire DLF’s land parcel in the Lower Parel neighborhood of Mumbai called NTC Mills for ₹2,727 crore. Back then DLF was the largest developer by market capitalization, but the Delhi-headquartered realtor was stressed with nearly ₹23,220 crore in net debt and had started paring its national footprint and debt; that provided Lodha the opportunity to fuel his ambition of transforming Mumbai’s skyline with a canvas of skyscraping luxury towers.
The construction of Trump Tower is now complete, Lodha has sold 80 percent of the project, with 451 apartments of 2,222 yet to be sold. That may not be a problem. There are other dangers: Of looming debt, downgrades by credit rating agencies and an all-important US denominated bond that comes up for redemption in March 2020.
Sitting in the meeting room of Lodha World Towers—the one cheek-by-jowl with Trump Tower— the 39-year-old Lodha shows few signs of stress: “Ultimately the proof of the pudding is in the cash,” he says with a smile. He’s confident of being net debt-free “in the next 24 to 30 months”.
Bu hikaye Forbes India dergisinin January 31, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes India dergisinin January 31, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
