The real estate developer registered a 10% year-on-year increase in September quarter pre-sales, reaching ₹5,037 crore with notable support from the Bengaluru market. To hit its full-year pre-sales target of ₹24,000 crore, the firm has slated 17 project launches for the second half carrying an estimated revenue potential of ₹19,070 crore. However, management faces challenges as higher mortgage costs moderately constrain demand in the ₹1 crore to ₹5 crore residential segment.
Key points
Achieving the ₹24,000 crore full-year pre-sales target relies heavily on aggressive launc…: Achieving the ₹24,000 crore full-year pre-sales target relies heavily on aggressive launch execution after securing ₹9,670 crore in the first half.
Geographic diversification outside the Mumbai Metropolitan Region is accelerating via new…: Geographic diversification outside the Mumbai Metropolitan Region is accelerating via new joint development agreements in Gurugram and expanding Bengaluru operations.
Elevated home loan rates and geopolitical tensions in West Asia present immediate demand…: Elevated home loan rates and geopolitical tensions in West Asia present immediate demand risks for core domestic segments and Gulf non-resident buyers.
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Lodha Developers' stock rose over 6% on Tuesday, reacting to the management's upbeat commentary after its September quarter (Q2FY27) results. Lodha is bracing for a fast-paced H2FY27, backed by launches with a revenue potential of ₹19,070 crore (11.1 msf, 17 projects). This is a marked improvement from launches worth ₹4,080 crore in H1. The new launches are spread across Mumbai Metropolitan Region (MMR), Bengaluru, Pune and National Capital Region (NCR).
Q2FY27 pre-sales rose 10% year-on-year to ₹5,037 crore, with Bengaluru fetching ₹1,860 crore, a key highlight. Collections were flat at ₹3,450 crore. Typically, one-third of quarterly pre-sales come from new launches and two-thirds from sales in existing projects. This time, the contribution from new launches was lower than one-third, but Lodha sees that improving in H2.
Launch momentum
Lodha is aiming for six operating projects in Bengaluru and eyes pre-sales of ₹3,000 crore from the city in FY27. Its foray into NCR through two joint development agreement (JDA) projects in Gurugram is seeing an encouraging initial response.
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