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Lodha Developers Q2 FY27 Share Price & Earnings Call Analysis

₹1,037.00-0.84% today
Market cap
₹1.04L Cr
P/E
25.13
ROE
15.48%
PEG
0.45
Price to sales
5.69
Debt to equity
0.42
52W high / low
₹1,316 / ₹677
Sales growth (5Y)
25.07%
EBITDA margin
32.22%
Net profit margin
20.18%
Promoter holding
70.29%
Sales (last year)
₹18,181 Cr

Lodha Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in terms of presales and development pipeline in India with a presence in MMR, Pune and entered in Bengaluru market in Nov'23.[1]

Guidance scorecard · Q2 FY27 call

What Lodha Developers Ltd's management guided
and where it ranks in Realty

#5of 41 in
Realty
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookFlat

RevenueQ1 FY27 call

20–40%
  • Lodha Developers expects continued strong growth driven by land monetization and residential sales.
  • They plan to monetize about 150 acres of data center park land over the next 3-4 years, generating close to INR 10,000 crores in sales.
  • Annual land sales projected at INR 2,000 - 3,000 crores for several years.
  • Residential pre-sales guidance maintained, targeting 20% PAT growth in FY27 (about INR 41 billion PAT).
  • New project launches planned in Bangalore, Pune, NCR, and MMR from Q2 onward, supporting pre-sales growth.
  • Pricing power is strong, with expected 5-7% price increase in near term across micro markets.
  • Balanced portfolio across mid-income, premium, and luxury segments reduces volatility.

2 more points from Lodha Developers Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Lodha Developers Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Data center infrastructure capex of approximately INR 500 to 700 crores planned over time to build connectivity and basic infrastructure across the 3 GW park.
  • Build-out of about 1 gigawatt of powered shell on approximately 90 acres funded by land sales generating INR 20 billion annual rental income by FY32.
  • Largely self-funded from land sales within the park.
  • Further land monetization: 150 acres over next 3-4 years generating ~INR 90 billion of sales; balance 300 acres for optional future sale/build-out.

2 more points from Lodha Developers Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Lodha Developers Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat
  • Q1 FY27 pre-sales achieved were INR 46.3 billion, up 4% YoY, despite no major new residential launches except a minor one in Mumbai.
  • About one-third of pre-sales typically come from new launches, which were deliberately postponed in Q1 due to Middle East conflict impact.
  • Launches have started from Q2 onward, expected to contribute significantly to pre-sales growth for FY27.
  • The company aims for 20% PAT growth in FY27 with INR 41 billion target and is ahead of the guidance curve.
  • Data center park plans include monetizing approximately 150 acres over the next 3-4 years, generating close to INR 10,000 crores.

2 more points from Lodha Developers Ltd's call on the order book

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Full Q1 FY27 analysis
Full Realty ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Realty
on management's own guidance

  1. Sobha LtdGood growth
    2
  2. Strong growth
    1
  3. Man Infraconstruction LtdGood growth
    3
See all potential multibaggersWhere does Lodha Developers Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Realty companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹12,035 Cr41.1
2Sobha Ltd20–40%Up 2%+₹12,548 Cr54.4
3Man Infraconstruction Ltd20–40%Up 2%+₹4,602 Cr21.2
420–40%Up 2%+₹1,157 Cr12.7
5Lodha DevelopersThis stock20–40%Flat₹1.06L Cr25.6
620–40%Flat₹61,922 Cr23.4

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Financials of Lodha Developers Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Lodha Developers Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +74.92%72.16%72.13%72.11%71.98%71.94%71.90%71.87%71.85%72.27%70.31%70.29%
FIIs +21.09%23.79%24.18%24.20%24.45%24.64%24.89%24.11%23.49%21.24%23.65%25.33%
DIIs +3.21%3.32%2.96%2.78%2.63%2.36%2.19%2.73%3.17%4.62%3.56%2.55%
Public +0.78%0.73%0.72%0.91%0.92%1.04%1.00%1.28%1.48%1.85%2.46%1.82%
No. of Shareholders52,80560,81267,69992,93394,6231,04,51299,2671,18,8701,35,2941,47,4621,58,7461,39,578

Financials of Lodha Developers Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,7502,9314,0182,8462,6264,0834,2243,4923,7984,6724,7144,9974,467
Expenses +1,3382,0552,9722,0901,9222,7773,0042,5082,6903,2573,3013,0742,979
Operating Profit4128761,0467567041,3061,2209841,1081,4151,4131,9221,488
OPM %24%30%26%27%27%32%29%28%29%30%30%38%33%
Other Income +6-776572596419613380110129102122
Interest123117116117136144152148156185167179185
Depreciation2933117606667786671981116983
Profit before tax2656498786515601,1581,1869049611,2431,2641,7761,342
Tax %24%22%24%27%24%18%22%25%18%23%20%23%24%
Net Profit +2035056674764239459236757909581,0081,3731,014
EPS in Rs2.095.226.694.784.259.479.246.767.909.5810.0913.7310.14

Financials of Lodha Developers Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +6,2368,2497,9269,67711,90712,4435,4499,2339,47010,31613,78016,67618,850
Expenses +4,7696,1236,3137,9958,72810,5264,0667,0477,4067,6519,79111,75312,612
Operating Profit1,4672,1261,6141,6823,1791,9171,3832,1862,0642,6653,9894,9236,238
OPM %24%26%20%17%27%15%25%24%22%26%29%30%33%
Other Income +42351058428572119-140293-1,03748390452464
Interest4929887363905687401,136688482482552659717
Depreciation128450460395194292737593204272345360
Profit before tax1,2691,1981,0011,1822,4891,003331,7164522,0283,5564,3715,625
Tax %37%41%42%33%34%26%-44%30%-8%23%22%22%
Net Profit +7987035847941,644742481,2084901,5542,7673,4314,352
EPS in Rs10.559.297.3810.0320.669.190.5112.495.0515.5827.7134.3243.54
Dividend Payout %0%0%0%0%0%0%0%0%20%14%15%12%

Financials of Lodha Developers Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital108108113396396396396482482994998999999
Reserves3,1863,8653,9204,7563,4454,1564,20311,62412,18116,47519,18022,28724,288
Borrowings +11,85213,83516,18322,61625,64118,42318,19311,5379,0607,6987,0949,89610,429
Other Liabilities +12,75213,17313,71512,48320,38217,71716,51614,76317,39922,03122,32525,49726,993
Total Liabilities27,89830,98133,93140,25149,86440,69339,30838,40439,12247,19849,59758,68062,709
Fixed Assets +2,2901,8991,7532,1972,1392,0211,9461,9231,8281,1691,3682,6414,273
CWIP417610966660044100
Investments5956111,1801,3841,4051,5531,5795742462,5001,2501,4542,505
Other Assets +25,00828,29530,88836,66446,31437,11235,77635,90837,04843,52446,97654,57555,931
Total Assets27,89830,98133,93140,25149,86440,69339,30838,40439,12247,19849,59758,68062,709

Financials of Lodha Developers Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +3871,469696-4633,7722,5241,9982,7502,5121,566959
Cash from Investing Activity +-854-1,174-651-1751824201,1391,789-2,94747-780
Cash from Financing Activity +330-31224736-4,188-2,835-2,888-3,706951-2,5061,589
Net Cash Flow-137-166997-234109250834516-8931,769
Free Cash Flow2891,405654-5623,7432,5301,9652,6742,3461,091709
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit34%119%75%-5%201%176%100%143%95%55%39%

Financials of Lodha Developers Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days633028291523442628282132
Inventory Days
Days Payable
Cash Conversion Cycle633028291523442628282132
Working Capital Days655590-166-262-0-31114360387442441420
ROCE %13%9%7%11%6%7%10%9%11%15%16%

Guidance history

How Lodha Developers Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned—Flat
Q3 FY26 call →20–40%FlatPlannedNone plannedRising
Q2 FY26 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

27out of 100

Momentum score · price trend

27 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−11.5%49%
Last 6 months+15.5%73%
Last 3 months−16.6%29%

The price is 35% below its all-time high of ₹1,594.8 (21 Jun 2024). Stocks more than 20% below their peak have their score halved, so 54 became 27.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Lodha Developers Ltd: 0.4 × 49 + 0.4 × 73 + 0.2 × 29 = 54, halved to 27 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

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