Lodha Developers Limited has issued a postal ballot notice seeking shareholder approval for key board appointments through special resolutions. The company announced the postal ballot process for the appointment of Mr Akhil Gupta and re-appointment of Mr Lee Polisano as Independent Directors, with e-voting scheduled from April 29, 2026 to May 28, 2026.

Postal Ballot Process Details

The company has issued the postal ballot notice pursuant to Regulation 30 of SEBI Listing Regulations, with the following key timelines:

Special Resolutions for Approval

Shareholders will vote on two special resolutions through remote e-voting:

Director Appointment Details

The Board of Directors had previously approved these appointments on April 24, 2026, based on recommendations from the Nomination and Remuneration Committee:

Mr Akhil Gupta - New Independent Director

Mr Akhil Gupta has been appointed as Additional (Non-Executive, Independent) Director for a five-year term from April 24, 2026 to April 23, 2031. His extensive background includes:

Mr Gupta has received numerous prestigious awards including the Tele.Net Outstanding Contribution to Infrastructure and Telecom Development Award, ET Telecom Lifetime Achievement Award, Voice & Data Lifetime Contribution Award, EY Entrepreneur of the Year Award, and CA Lifetime Achievement Award by ICAI.

Mr Lee Polisano - Re-appointment for Second Term

Mr Lee Polisano will serve his second term as Independent Director from July 30, 2026 to July 29, 2031. He brings extensive expertise as an internationally recognised architect and urban designer, serving as the Founding Partner and President of PLP Architecture (UK). His professional credentials include:

• Over 45 years of professional experience
• Fellow of the American Institute of Architects (FAIA)
• Member of the Royal Institute of British Architects (RIBA)
• Global governing trustee of the ULI

Mr Polisano has led significant developments in London and internationally across Europe, the Middle East and Asia, including major commercial, residential and institutional projects.

Regulatory Compliance and Voting Process

The postal ballot notice complies with SEBI Listing Regulations under Regulation 30, with detailed disclosures provided as per regulatory requirements. The notice is being sent only through electronic mode to members whose email addresses are registered with the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited.

Both appointments reflect Lodha Developers' commitment to strengthening its board with experienced professionals who bring diverse expertise in architecture, urban planning, telecommunications, and strategic business transformation. The company has confirmed that neither director is related to existing board members and both are eligible to hold directorship positions without any regulatory restrictions.

Lodha Developers has received strong analyst backing from Jefferies with a Buy rating and target price of ₹1,215, as the company pursues ambitious financial targets including ₹240 billion in pre-sales by FY27 and profit goals of ₹85 billion by FY31, while expanding into data centers with 1GW capacity plans.

Jefferies Maintains Positive Outlook Despite Valuation Gap

Jefferies has reiterated its Buy rating with a target price of ₹1,215, highlighting the company's strong pipeline and FY27 pre-sales guidance beat. The brokerage expects the expansion initiatives and infrastructure upgrades to drive approximately 20% PAT CAGR, while noting a significant 36% NAV discount that presents potential upside for investors.

Ambitious Financial Targets and Growth Strategy

The company has established aggressive financial milestones with FY27 pre-sales guidance of ₹240 billion and aims to achieve profit of ₹85 billion by FY31. These targets reflect strong confidence in long-term growth strategy and operational efficiency improvements, supported by a robust pipeline and strategic diversification initiatives.

Strategic Expansion into Data Centers and Infrastructure

Lodha Developers has announced significant expansion into the data center segment with plans to build 1GW of data center capacity, representing a major diversification from traditional residential development. The company also expects substantial land sales worth ₹120 billion by FY27, while pursuing Palava infrastructure upgrades as key growth catalysts.

Path to Net-Debt-Free Status

Despite ongoing land acquisitions, Jefferies expects the company to achieve net-debt-free status, supported by strong cash flow generation and strategic asset monetization. The company's financial health remains robust with operating cash flow surplus of ₹29.60 billion, providing a solid foundation for ambitious expansion plans and profit targets.