JSA and Amarchand lead on Lodha Groups acquisition of Jawala Real Estate

The Lodha Group, a Mumbai based Real Estate developer, has acquired Jawala Real Estate, a DLF Group entity for an aggregate consideration of Rs. 2,727 crore ($504 million)..The primary asset owned by Jawala is a vacant parcel of land situated at Lower Parel, Mumbai, which the Lodha Group proposes to develop into a flagship residential complex. This transaction is said to be India’s largest ever private sector land deal yet, according to JSA press release..J. Sagar Associates advised Lodha Group with a team led by Partners Berjis Desai and Varghese Thomas along with Senior Associates Jamshed Bhumgara and Soumitra Majumdar..Amarchand Mangaldas advised Jawala with a team led by Partners Cyril Shroff and Tushar Mavani along with Associates Abhinav Surana and Pranjita Barman..According to Dealcurry, the acquisition is for a consideration of Rs. 1,200 crore for both equity and debentures of the company. In addition, Lodha will also pay Rs. 1,500 crore of liabilities that Jawala has incurred for the development since it purchased the property from NTC in 2005 for Rs. 703 crore..This is the second high-value land deal by Lodha’s in the recent times. In 2010, the company had bought a 25,000-square metre plot at Wadala in Mumbai for Rs. 4,050 crore.

JSA and Amarchand lead on Lodha Groups acquisition of Jawala Real Estate

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