Lodha Developers Limited has informed the Exchange about Transcript of Earnings call held on July 28, 2025
LODHA · price
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Awaiting price reaction for this filing.
Lodha Developers reported Q1FY26 presales of Rs. 4,450 crore, up 10% YoY (best ever Q1), modestly impacted by two weeks of geopolitical tension in May 2025. Revenue grew 23% YoY to ~Rs. 3,500 crore, adjusted EBITDA rose 25% to Rs. 1,200 crore with margin improving to 34.4% (vs 33.7% YoY), and PAT jumped 42% to ~Rs. 680 crore. Operating cash flow grew ~50% YoY to Rs. 950 crore, net debt stayed comfortable at 0.24x net debt to equity (well below the 0.5x ceiling), and average cost of funds declined 40bps to 8.3%. The company added 5 projects in Q1 with combined GDV of Rs. 22,700 crore (~90% of full-year business development target), with full-year launch pipeline at Rs. 25,000 crore and H1 expected at 40-45% of AOP. Management outlined plans to enter Delhi NCR within 12 months (launch targeted for FY27), and reiterated long-term targets of Rs. 8,000 crore annual Palava sales and Rs. 1,500 crore annuity income by end of decade.
Strong Q1 with margin expansion, robust cash flow growth, and confident full-year guidance support the growth story; the Delhi NCR entry and multi-year targets add long-term optionality, though successful execution of the heavy H2 launch pipeline remains the key trigger for the stock.