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Revenue
₹4,714 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Lodha Developers reported a strong Q4 FY26 with pre-sales of ₹58.9B, up 23% YoY, and full-year PAT of ₹34.3B (margin 20%), driven by robust demand in premium segments and successful business development adding ₹600B GDV. The company guided to FY27 pre-sales of ₹240B (17% growth) and PAT growth of ~20% CAGR, with a focus on free cash flow as business development spend moderates. Key growth drivers include infrastructure catalysts in Palava (freeway, airport, bullet train) and NCR expansion. Risks include Middle East tensions causing NRI deferrals and construction cost inflation of 3-5%, though margin impact is estimated at <0.35%.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided to pre-sales of approximately ₹240 billion for FY27, implying ~17% growth over FY26's ₹205B.
- Guidance for embedded EBITDA margin between 32% and 34%, including a single-digit percentage contribution from land sales.
- Medium-term goal of 20% PAT CAGR, moving from ~₹34B in FY26 to >₹85B by FY31.
- With sufficient supply visibility, new business development investment will be muted, leading to higher free cash flow.
Risks flagged
- March saw deferrals from NRI buyers and luxury segment due to Middle East escalation; management assumes normalization by end of Q1 FY27.
- Cost increases of 3-5% in gas-dependent materials (tiles, paints, PVC) could impact margins by up to 1.7% if persistent.
- Extended eastern suburbs sales have been flattish at ₹20-25B due to delayed freeway and airport connectivity; any further delay could defer the expected step-up.
- Past clearance delays caused 9-month disruption; while resolved, any future regulatory hurdles could impact launch pipeline.
Key quotes
- We have grown at scale while simultaneously deleveraging. That combination we believe is genuinely rare in this sector.
- The Indian housing market is in the early stages of a structural expansion that is likely to last for decades.
- Please think about our business as one which is most focused on profitability and resilience and predictability rather than driven by headline sales.
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