Lodha Developers clarifies routine land transaction in Palava

Lodha Developers Limited has clarified a media report about Digital Edge buying 30 acres in Palava for a second data center from the company.

• The company said it is in the real estate business and that land purchase/tie-up and development are routine in nature as part of its raw material and inventory.
• Lodha stated that the transaction referred to in the Economic Times article is one of such transactions and requested the exchanges to take the information on record.