The final numbers are yet to be out. But the value of sales is about Rs 3,900 crores and the booked sales (the balanced sheet sales) are Rs 2400 crores. Over the last 5 years, our profi tability each year has grown by over 100 %. So as a company we have done very strongly in spite of the slowdown. Fiscal year 2009-2010 has especially been a very strong year for the company and we have become the largest developer in Mumbai.

The global economic downturn sobered the euphoria that was “real estate”. This sector has seen a rebound in the last quarter of 2009. Both residential as well as commercial real estate sales are on the rise. It has also brought affordable housing to the fore, which was always at the back of the mind of most developers. Lodha was one of the fi rst developers to predict decreasing affordability and predict its impact on sales. Consequently, we recognized opportunities in mid income housing and took active steps towards the creation of our sub brand CASA by Lodha which marries our values of luxury as well as affordability and created a segment within mid income housing called mid income luxury. Despite the challenging market condition, CASA has witnessed a positive response.

With essential quality and luxury endorsement, providing right sized and, right priced products in Mumbai’s suburban locations, CASA was developed in order to explore the untapped potential in the ‘affordable segment.’ These homes are in the price range of Rs 10 Lakhs to Rs 50 Lakhs. We currently have 5 ongoing projects in this segment.