Lodha Developers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
LODHA · price
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Lodha Developers reported strong Q1 FY26 results. Consolidated revenue from operations rose about 22.7% year-on-year to Rs 3,491.7 crore, while net profit jumped roughly 41.8% to Rs 675.1 crore (from Rs 475.9 crore in Q1 FY25). Operating margin expanded to 34.39% from 33.68% a year ago, and net profit margin improved to 18.62% from 16.31%. The debt-to-equity ratio improved to 0.38x from 0.47x, and basic EPS rose to Rs 6.76 from Rs 4.78. Standalone revenue grew about 19.1% and standalone net profit rose around 42.7% to Rs 644.3 crore. About 4.75 lakh ESOP shares were allotted during the quarter. Standalone prior-period figures were restated due to the merger of two wholly-owned subsidiaries effective May 15, 2025 (common-control transaction). A separate scheme to merge three listed subsidiaries (National Standard, Sanathnagar Enterprises, Roselabs Finance) is still pending approval.
Strong top-line and bottom-line growth, better margins, and lower leverage are positive for shareholders. However, a separate auditor report on listed NCDs flagged that the company has not complied with the financial covenants of its debentures and that the security cover for debenture holders is not in line with the debenture trust deed — a credit-negative point for bondholders worth watching.