Lodha Developers Reports Record Q2 Presales, Eyes Data Center Expansion

Lodha Developers , one of India's leading real estate companies, has reported its best-ever second quarter presales of INR 45.70 billion, marking a 7% year-on-year growth. This strong performance has positioned the company to achieve 43% of its full-year guidance of INR 210 billion in the first half of the fiscal year.

Financial Highlights

The company's financial results for Q2 showcase robust growth across key metrics:

Metric	Q2 Amount (INR)	YoY Growth
Revenue from Operations	38.00 billion	45%
Adjusted EBITDA	13.00 billion	37%
PAT	8.00 billion	87%
Operating Cash Flow	14.70 billion	-

Lodha Developers maintained a healthy EBITDA margin of 34.4% despite joint development agreements (JDAs) contributing nearly 50% of presales. The company's net debt stood at INR 53.70 billion, representing a conservative 0.25x equity ratio.

Business Development and Expansion

Lodha has completed its full-year business development guidance of INR 250 billion Gross Development Value (GDV) in the first half itself, adding new projects worth INR 23 billion in the Mumbai Metropolitan Region (MMR).

The company is also diversifying its portfolio beyond residential real estate. Lodha has entered into a Memorandum of Understanding (MOU) with the Maharashtra government for a data center park at Palava, spanning 400 acres with a power capacity of 3 gigawatts. This strategic move has already secured anchor customers including Amazon Web Services and STT.

Infrastructure Developments

Abhishek Lodha, Managing Director and CEO, highlighted key infrastructure developments that are set to boost the company's projects:

"The Palava-Airoli-Mulund freeway is approaching completion and should be operational next quarter, which will be a huge value leg up for Palava," Lodha stated. He also mentioned the progress on the bullet train connectivity from Mumbai to Ahmedabad, with the first station after BKC at Palava, expected to be operational by 2028 or 2029.

Expansion into New Markets

Lodha Developers is eyeing expansion into the National Capital Region (NCR), with initial focus likely to be on Gurugram. This move aligns with the company's strategy to diversify its geographical presence beyond its stronghold in Mumbai and recent successes in Pune and Bangalore.

Future Outlook

The company remains optimistic about the Indian real estate market's long-term prospects. Abhishek Lodha commented on the market cycle, stating, "We think India is going to have a cycle which is that long. We are only in the year 4 or 5 out of that very long cycle."

With its strong financial performance, strategic expansions, and focus on infrastructure-led growth, Lodha Developers appears well-positioned to capitalize on the evolving Indian real estate market.

As the company continues to diversify its portfolio and expand its geographical footprint, investors and industry observers will be keenly watching Lodha's execution of its ambitious plans, particularly in the data center space and new market entries.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.79%	+5.22%	+10.53%	-4.90%	+1.14%	+429.81%

Lodha Developers Limited , one of India's leading real estate companies, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating resilience in a dynamic market environment.

Key Financial Highlights

Metric	Value	Change
Pre-sales	INR 45.70 billion	7% YoY increase
Revenue from operations	INR 38.00 billion	45% increase vs Q2 FY25
Net profit after tax (PAT)	INR 7.90 billion	87% increase
PAT margin	20.40%	Up from 15.80% last year

Operational Performance

Lodha's operational metrics remained strong, with collections increasing by 13% year-over-year to INR 34.80 billion. The company maintained a robust Adjusted EBITDA margin of 34.40%, reflecting operational efficiency despite market challenges.

Strategic Developments

In line with its growth strategy, Lodha added one new project in Mumbai's Western Suburbs with a Gross Development Value (GDV) of INR 23.00 billion during Q2. This addition contributes to the company's full-year business development goal of INR 250.00 billion GDV, which has already been achieved in the first half of FY26.

Market Position and Future Outlook

Abhishek Lodha, MD & CEO of Lodha Developers, commented on the results: "We are pleased to deliver our best ever Q2 performance with pre-sales of INR 45.70 Bn, up 7% YoY. We find strong market momentum with continuing strength in walk-ins and conversions."

The company remains optimistic about its future performance, citing factors such as low homeownership levels, rising household incomes, and improving affordability as drivers for sustained growth in the real estate sector.

Financial Stability

Lodha maintains a strong financial position with its net debt standing at INR 53.70 billion, representing a net debt to equity ratio of 0.25x, well below the company's ceiling of 0.5x. The average cost of debt decreased by 30 basis points quarter-on-quarter to 8.00%, among the lowest in the industry.

Conclusion

Lodha's Q2 FY26 results demonstrate the company's ability to capitalize on market opportunities and maintain strong financial performance. With a solid project pipeline and strategic market positioning, Lodha appears well-positioned to continue its growth trajectory in the Indian real estate market.

Investors and market watchers will likely keep a close eye on Lodha's performance in the coming quarters, particularly as the company aims to meet its full-year pre-sales guidance of INR 210.00 billion.