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Middle East geopolitical tensions impacting sales
View Risks →Lodha Developers Limited — Q4 FY26
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.
bullish
high
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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%.
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Read Transcript →Quarter Snapshot
Pre-sales (Q4 FY26)
₹58.9B
+23% YoY
Strongest quarter in history, driven by premium and luxury segments.
Pre-sales (FY26)
₹205B
+16% YoY
Full-year pre-sales grew 16% despite macro headwinds and clearance delays.
Business Development GDV Added
₹600B
+2.4x guidance
12 projects added at 2.4x the guided run-rate, enhancing visibility.
Net Debt to Equity
0.23x
-0.07x YoY
Well within self-imposed ceiling of 0.5x; devco on track to become debt-free.
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Guidance and risk preview
Management guided to pre-sales of approximately ₹240 billion for FY27, implying ~17% growth over FY26's ₹205B.
March saw deferrals from NRI buyers and luxury segment due to Middle East escalation; management assumes normalization by end of Q1 FY27.
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