August 9, 2020

Lodha Group clocks 2000 cr sales in Dec quarter supported by funding housing brand

Lodha Group clocks 2000 cr sales in Dec quarter supported by funding housing brand

Lodha’s earnings in 2018-19 were at $7000 crore, and given that the March quarter is normally the strongest in terms of sales, the programmer may surpass it in 2019-20.

The October-December quarter earnings were up 30 percent compared to the corresponding quarter a year ago, and so were largely driven by its recently launched affordable home brand, Crown.

“While a lot of the earnings may have come in the affordable housing projects, we have sold well across price points, including the premium jobs. The takeaway from this is that demand is strong, end-users are looking to buy and the marketplace is moving towards larger developers who have delivered in the past,” said managing director Abhishek Lodha in a telephonic interview.

Mumbai-based Lodha Group launched its affordable housing brand this past year and sells houses in the $25-50 lakh price bracket under’Crown’.

Over the next 12-19 months, Lodha plans to monetize the ready, unsold stock in its own premium and luxury projects before launch new developments. It’s only launched a relatively small job in Lower Parel in recent times.

“.In 2020, we expect our affordable housing company to grow further, from the 60% of sales that it represents now. We expect this year to be a more powerful one compared to the past, with growth driven by both residential together with our office and warehousing business,” Lodha said.

Lodha is currently gearing up towards a bond issue primarily to repay debt. Around $325 million worth of bonds are maturing by March.

Lodha said around $1000 crore of debt, the company has recently repaid besides the bond issue and has approximately $16,000 crore from its India business. Another $2000 crore of debt will be in London from its projects.

The firm plans to repay around $6000 crore by May, he said. Lodha, which had planned to an initial public offering (IPO) to raise almost $5000 crore last year, didn’t launch it.

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6 reasons why Apple hailed 2019 as historic: to Apple TV From the App Store

6 reasons why Apple hailed 2019 as historic: to Apple TV From the App Store

Apple had a fairly interesting 2019. From lowering the purchase price of the iPhone XR and finally fixing the impasse it was facing in several markets, to launch the iPhone 11 and the iPhone 11 Pro and the new iPad, the new iMac Pro etc and needless to say, Apple TV+, Apple Arcade and Apple Pay.

The tech giant has called 2019’historical’ at a round-up it released now for their’annually which introduced Apple Arcade, Apple TV+, Apple News+ and Apple Card, and celebrated the continuing success of this App Store, Apple Music, iCloud and more experiences only Apple can produce and deliver’.

‘2019 was the biggest year for Services in Apple’s history. We introduced several exciting new experiences for our customers, while setting the standard for user privacy and security.

Why 2019 worked for Apple, too take a look back, here’s:

Programmers have earned over $155 billion, with a quarter of those earnings coming from the past year since the App Store launched in 2008. App Store customers spent a record $1.42 billion between Christmas Eve and New Year’s Eve, a 16% increase over last year, and a whopping $386 million on New Year’s Day 2020 alone, a 20% increase over last year and a new single-day record.

The new lyrics feature was a highlight in 2019 with over 50 percent of listener using it. Apple garnered a lot of new listeners on the Beats 1 radio station that provided displays by Nicki Minaj, Frank Ocean, The Weeknd, DJ Khaled and Elton John.

Apple TV+ is the home including the critically acclaimed Dickinson See and Servant The Morning Show. Apple TV+ made history as the first platform to get multiple Golden Globe and Screen Actors Guild nominations and it was the only and first streaming service to debut instantly in more than 100 countries and areas.

30 Apple TV channels — direct subscriptions to video services are offered over by the Apple TV app so customers can watch both online and offline, ad-free and on demand.

Apple Arcade offered users access to the whole catalog of 100+ new, exclusive games, all playable across iPad iPhone, iPod touch, Mac and Apple TV.

Apple Card and obtained everyday experiences and Apple Pay lead innovation with the way clients paid for services and products. Last month, customers started using Apple Card Monthly Instalments to purchase iPhones and pay over 24 months with zero interest for them. On the Apple and iPhone, entrance to over 150 stadiums, ballparks, arenas and entertainment venues around the world was available with tickets in 2019. Clients could ride transit with Apple Pay including Beijing, Shanghai, Tokyo, Moscow, London and New York, in some of the cities in the world.

In 2020 customers will be able to tap their iPhone and Apple to ride buses and trains in even more cities, including Washington DC, Shenzhen, Guangzhou and Foshan, and access dorms and services at universities across the US.

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