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Informist, Thursday, Oct. 30, 2025

By P. Madhu Kumar and Rajesh Gajra

MUMBAI/NEW DELHI – Lodha Developers Ltd. reported higher-than-expected earnings for the September quarter, with its top line growing at the fastest pace in four quarters on a year-on-year basis. The company reported a consolidated net profit of INR 7.89 billion, up nearly 87% on year and 17% on quarter. 

The real estate company's consolidated revenue grew nearly 45% on year and nearly 9% on quarter to INR 37.99 billion. Analysts had pegged the company's bottom line at INR 5.72 billion and revenue at INR 31.32 billion.   

"We are pleased to deliver our best-ever Q2 (Jul-Sept) performance with pre-sales of INR 45.7 bn (billion), up 7% YoY (on year). We find strong market momentum with continuing strength in walk-ins and conversions... With significant launches planned in H2 (Oct-Mar)... we are on track to deliver our full year pre-sales guidance of INR 210 bn (billion)," said Abhishek Lodha, managing director and chief executive officer of the company.

The sharp on-year rise in Lodha's consolidated net profit was due to the consolidated adjusted earnings before interest, tax, depreciation, and amortisation, jumping up 37% to INR 13.1 billion. This was mainly due to the on-year rise in cost of projects, the largest expense item, being lower than the 45% jump in revenue from operations. The cost of projects rose 40% on year to INR 21.99 billion in the reporting quarter.

In the September quarter, the employee benefits expense increased 22% on year to INR 1.7 billion, while other expenses jumped up 53% on year to INR 3.2 billion. Among non-operating expenses, the finance costs increased 15% on year to INR 1.6 billion. The total expenses rose 37% on year to INR 29.2 billion.

The company said in an earnings investor presentation that its estimated EBITDA margin on pre-sales at realised price was around 32% for the September quarter. It said the average price growth on a year-to-date basis was 3%. Lodha's net debt was INR 53.7 billion at the end of September quarter, with the average cost of debt down 30 basis points on quarter to 8% for the September quarter.

The company had cash outgo from interest payments of INR 1.5 billion in the September quarter. Its net cash collections were INR 31.2 billion in the September quarter.

In Apr-Sept, Lodha's consolidated net profit rose to INR 14.6 billion from INR 9 billion in the year-ago period, while its consolidated revenue rose to INR 72.9 billion from INR 54.7 billion.

On Thursday, shares of the company closed at INR 1,171.40, down 0.7%, on the National Stock Exchange.  End

Edited by Saji George Titus and Akul Nishant Akhoury

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