Lok Housing & Constructions Ltd Company Summary

Lok Housing & Constructions Ltd Summary

Lok Housing & Constructions (LHCL) was incorporated in 1987. Belonging to the Lok group it was promoted by Lalit Gandhi, O P Monga, Naina Shah and Nathubhai. LHCL came out with a rights-cum-public issue of 95 lac equity shares aggregating Rs 9.50 cr in Jul.91. The object of this issue was to part-finance the acquisition and development of land for housing projects on hand.The group has built several housing complexes in the suburbs of Mumbai like Khar, Andheri, Vikroli, and Mulund and outside Mumbai in Thane, Kalyan and Ambernath. The company has chalked out ambitious diversification plans. It is contemplating a project to set up a cement plant with a capacity of 1 -1.5 mln pa. The plant is expected to operate as a separate profit centre with only 5 - 10% of the production consumed in-house and the balance sold to outsiders. It will enter the hospitality sector by erecting a chain of hotels and resorts with 3/4 star rating.One of its associate company named Lok Global & National Construction Ltd has bagged the Railway Quarters Contract and the project is nearing completion and Construction of two bridges for Thana Municipal Corporation is also nearing completion.