Lodha Developers cuts debt by Rs 400 cr to Rs 14,500 cr in Q1

Realty major Lodha Developers has cut its debt by Rs 400 crore during the first quarter of this fiscal to Rs 14,500 crore and plans to reduce it further with the help of strong sales performance, its top official said.

Buoyed by record sales bookings and collection of Rs 2,300 crore and Rs 2,600 crore, respectively, during April- June quarter, Mumbai-based developer targets to cut debt of India business by up to Rs 1,500 crore this fiscal.

"We have reduced our India business debt by Rs 400 crore during the quarter ended June. The current debt level stands at Rs 14,500 crore," Lodha Group MD Abhishek Lodha told

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