2013 it acquired macdonald house in central london which housed the canadian consulate in the uk for over 306 million or rs 3120 crore in may et was the first to report that lodha group had reduced the size of an offshore bond issue to 200 million from the earlier planned size of 350 million owing to tepid response from investors the company later relaunched the dollardenominated bond issue with 12 yield last month moodys investors service changed its ratings outlook on lodha developers to negative from stable owing to the companys weakerthanexpected cash collection for the fiscal year ended march the company had collections of rs 5400 crore during the financial year against moodys expectation of rs 7500 rs 8000 crore also this was lower than the rs 5700 collected by the company in the previous year although collections in 201415 were sufficient to fund construction costs and interest payments for the year lodha developers used debt to fund approximately rs 3000 crore in payments for land this increased its borrowings by about rs 2600 crore bringing the total debt to rs 12000 crore as of endfy15 moodys said in its ratings statement