Lodha Developers shares trade lower; here is what we know so far

Last seen, the stock was trading at ₹1,198, down over 0.61% on the NSE.

The investigating officials, PTI reported, made the claims while seeking his further remand. Lodha's custody was extended till September 29 by Additional Chief Metropolitan Magistrate (Esplanade Court) V. R. Patil.

The 59-year-old accused was arrested on September 17 by the crime branch of Mumbai police. He is accused of colluding with others to sell company land and Transferable Development Rights (TDR) at reduced rates, causing an estimated loss of ₹85 crore to the company, Lodha Developers.

According to police, Lodha, who served as a director from 2013 to 2025, was only authorised to acquire land, not sell it. Despite this, he is alleged to have partnered with his son Sahil Lodha and others to sell company assets fraudulently.

Lodha was produced before the court at the end of his previous remand on Tuesday. Police sought his further remand for seven days, citing a need for more time to unravel the complex web of financial transactions and locate potential evidence.

Lodha Developers: September 17 update

On September 17, in its filing to stock exchanges, Lodha Developers shared an update on the resignation of Rajendra Lodha, which was intimated to stock exchanges on August 18, 2025.

The company said it has been decided to refer the matter to the appropriate authorities for investigation. It said that the company maintains a strict zero-tolerance policy towards any misconduct, irrespective of the seniority or position of the individual concerned.

"At the Company’s request, Mr Rajendra Lodha resigned from all positions held within the organisation on August 17, 2025. For the sake of transparency, we note that he is a distant relative (fourth-degree) of the company’s managing director & CEO. In light of this incident, the company has carried out a comprehensive review of its processes in areas related to his role with an independent external firm, and their recommendations are being implemented with immediate effect," the filing said.

Lodha Developers: Business Update

On September 11, 2025, the company said it has signed a Memorandum of Understanding (MoU) with the Maharashtra government for setting up a data centre park in Palava.

Lodha, it said, will play the role of a developer for several players who are keen on setting up data centres.

The company signed the MoU a year after the Maharashtra government approved the Green Integrated Data Centre Parks in the Mumbai Metropolitan Region.

Back in 2019, the Government of Maharashtra declared Integrated Data Centres as a ‘Thrust Area’ for industrial growth in the state.

In recent times, the demand for data centres is increasing with the growth of cloud computing, artificial intelligence (AI), and digital services. In a bid to ensure that data centres thrive in the state, the Government of Maharashtra introduced the Green Integrated Data Centre Parks policy last year in October.

Under this policy, data centres, which are significant consumers of electricity, will be powered by green and alternative energy sources. To begin with, three parks will be set up under the programme in the MMR region.