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Informist, Monday, Apr. 27, 2026

 

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--Lodha Developers:Saw several project deferrals in Mar amid W Asia conflict
--CONTEXT: Comments by Lodha Developers mgmt in post-earnings analyst call 
--Lodha Developers: Well positioned to improve market share 
--Lodha Developers: Expect operating cash flow to grow in line with PAT
--Lodha Developers: See muted debt investment in new business in coming yrs 
--Lodha Developers: Don't see any significant risk to launches in FY27 
--Lodha Developers:Don't see single-segment impact of W Asia war from here 
--Lodha Developers: Overall impact of W Asia war on margin very minimal
--Lodha Developers: Expect to operationalise Palava Airoli project in 2-3 mos
--Lodha Developers: Don't expect any reduction in conversion rates
--Lodha Developers: Don't expect any reduction in sales throughput
--Lodha Developers: Price growth in FY27 to remain similar to FY26 
--Lodha Developers: DevCo business to be net debt free in next few years 
--Lodha Developers: Overall debt to be lower in FY27 than FY26
--Lodha Developers:Extended Mumbai eastern suburbs to be key pre-sales driver
--Lodha Developers:Extended Mumbai eastern suburbs to be key margin driver

 

By Shruti Nair and Arya S. Biju

 

MUMBAI – Lodha Developers Ltd. expects growth in prices of its projects to remain stable at around 5% in 2026-27 (Apr-Mar) similar to FY26 and sees overall growth to be volume-led, the company's management said in a post-earnings conference call with analysts. It expects projects in Mumbai's eastern suburbs to be a key pre-sales and margin driver in FY27, driven by completion of delayed infrastructure projects.

 

The company's total pre-sales for FY27 are expected to be INR 240 billion and its embedded earnings before interest, taxes, depreciation, and amortisation margin for the quarter is seen at 32–34%, the company said in a post-earnings presentation. The pre-sales and margin guidance for FY27 is based on the assumption that the West Asia conflict will end by the June quarter, a top company official said.

 

The real-estate developer does not expect any single segment to see continued impact from the war in West Asia. "We think it was just the shock of the event (war) and we expect things to normalize, unless there is a persistent energy shock," a company official said. While the company saw some impact of the war in select categories, it said the overall impact on the company's margin was very minimal. It saw several project deferrals in March owing to the West Asia conflict as consumers assessed the uncertain macroeconomic situation.

 

The company expects the overall debt in FY27 to be lower than in FY26. It also expects its core business, DevCo, to be debt free in the next few years. The real-estate developer sees muted debt investment in new business in the coming years given the sufficient visibility on its "supply side for quite some time, and therefore, can afford to be a lot more choosier in terms of the new business development." The developer expects its cash flow to grow in line with its bottom line, which is guided to grow at a compounded annual growth rate of around 20?tween FY26 and FY31.

 

For FY27, the company does not expect any reduction in sales throughput or conversion rates and believes it is well-positioned to improve its market share. Further, the real estate developer expects to operationalise its Palava-Airoli freeway project in the coming 2–3 months and does not anticipate any notable risks to its launches scheduled for FY27.

 

On Friday, the company reported a 9.4% on-year increase in its consolidated bottom line for the March quarter to INR 10.08 billion. The developer's consolidated revenue for the quarter grew 12%, the lowest in four quarters, to INR 47.14 billion. At 1437 IST, shares of the company were at INR 870.60 on the National Stock Exchange, up 3.6% from the previous close.  End

 

Edited by Ashish Shirke

 

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