Full Title: Emergence Strategy in Action: Lodha Drives Sustainable Real Estate Development in India
Author(s): James Newcomb
Publisher(s): Rocky Mountain Institute
Publication Date: October 12, 2023
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Description (excerpt):
India is the fastest-growing major economy in the world. With rising incomes and rapid urbanization, India could see 400 million new urban dwellers by 2050, a shift that will require massive growth in new building stock. India’s built environment floor space is expected to more than double by 2040 and its real estate industry is expected to reach a $1 trillion market size by 2030 (up from $200 billion in 2021), contributing 13 percent of the country’s GDP by 2025. India’s built environment floor space is expected to more than double by 2040.
From an environmental perspective, a decarbonized buildings sector will be key to India’s sustainable future. Building operations in India account for about a third of its energy use while another 10 percent of the country’s energy is used in the production of building materials and construction of new buildings.
In the absence of energy-efficiency improvements, India’s buildings sector could consume three times more energy in 2050 than it does today while carbon emissions could nearly quadruple. Yet India’s national goals call for reducing its emissions intensity by 45 percent below 2005 levels by 2030 and increasing the share of non-fossil power capacity to 50 percent by 2030.
Lodha (Macrotech Developers Ltd) is a vertically integrated real estate developer and builder, headquartered in Mumbai, India. The largest share of its portfolio is in the Mumbai Metropolitan Region and state of Maharashtra and includes multifamily products ranging from affordable to luxury, as well as commercial projects.