Deutsche Bank exits India's Lodha with $183 M profit

Deutsche Bank exited a four-year investment in Mumbai-based builders Lodha Developers, with a $183.09 million profit.

The German bank received 25.42 billion rupees, 55 percent more than its investment of 16.4 billion rupees in late 2007.

Lodha funded 17.2 billion rupees of the repayment from cash generated through sales of residential units in its projects across Mumbai, including in its flagship 117-storey World One, which is expected to become the world's tallest residential tower.

The remainder was funded through issue of bonds.

The company's debt dropped by 10 billion rupees to 30 billion rupees after the repayment to Deutsche Bank, Managing Director Abhisheck Lodha said.

For the source of this story, click here.

Also Read

Here's the main reason behind China's credit profile vulnerability

China grid investment fell 15% in September

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit