News ArticleLodha Developers Posts 63% Profit Growth to INR 2,386 Crores in Q2 FY27, Projects Strong Full Year Performance
Company reports INR 9,460 crores revenue and pre-sales of INR 96 billion in first half FY27 with plans to exceed full year profit guidance
Lodha Developers Limited reported its strongest first half fiscal year 2027 results, delivering a profit after tax of INR 2,386 crores, up 63%, and revenues of INR 9,460 crores, a 30% increase. The company achieved the highest-ever pre-sales of INR 96 billion in H1 FY27 while moderately reducing net debt to INR 52 billion. Strong launches in Bangalore and the start of Gurugram pre-sales contributed to growth. Lodha expects to surpass its FY27 profit guidance of 20% growth with robust operating cash flows and key infrastructure projects easing connectivity to its developments.
Lodha Developers Limited
Earnings Call Transcript
Lodha Developers Limited announced record first-half fiscal 2027 results with profit after tax rising 63% to INR 2,386 crores and revenue increasing 30% to INR 9,460 crores. The company achieved record pre-sales of INR 96 billion while reducing net debt moderately to INR 52 billion. Confident of exceeding its full-year profit guidance, Lodha highlighted strong new launches and improved infrastructure connectivity supporting growth.
The company’s pre-sales for H1 FY27 reached INR 96 billion, up 7%, with only INR 4,000 crores of new launches in the period. Lodha plans nearly INR 20,000 crores of new launches in the second half of FY27, supporting pre-sales guidance of INR 24,000 crores for the full year.
Net debt reduced to approximately INR 52 billion, representing 0.2x equity. Collections in H1 FY27 were INR 76 billion, up 19% year-on-year, with operating cash flow of about INR 27 billion in H1 and expected full-year operating cash flow of around INR 85 billion.
The company has expanded into Gurugram NCR with pre-sales starting, and Bangalore projects delivered strong sales of over INR 1,800 crores in Q2. The Mulund-Airoli-Palava Freeway is expected to open soon, significantly improving connectivity and likely boosting Palava pre-sales in 2027.
Lodha also updates on its data center platform, planning construction of its first BTS box in FY27 for rental earnings starting FY29, along with expected land sales every six months to support cash flow and profitability.
Highlights
- Profit after tax for H1 FY27 at INR 2,386 crores, a 63% year-on-year increase.
- Revenue for H1 FY27 at INR 9,460 crores, increased by 30%.
- Pre-sales for H1 FY27 at INR 96 billion, a 7% rise, with full year pre-sales guidance at INR 24,000 crores.
- Net debt reduced to INR 52 billion (~0.2x equity).
- Strong Bangalore project pre-sales of INR 1,800 crores in Q2.
- New Gurugram NCR project pre-sales initiated successfully in Q2 FY27.
Key Data Snapshot
What happened
- Lodha Developers reported its strongest first half in history for FY27 with a 63% rise in profit after tax to INR 2,386 crores.
- Revenue grew 30% to INR 9,460 crores in H1 FY27.
- Pre-sales reached a record INR 96 billion, up 7% compared to the prior period.
- Net debt was moderately reduced to INR 52 billion, representing 0.2x of equity.
- Q2 saw strong pre-sales of INR 1,800 crores from a new Bangalore launch and the start of pre-sales in Gurugram NCR.
Key details
- Planned new launches in H2 FY27 total nearly INR 20,000 crores, supporting expected full year pre-sales of INR 24,000 crores.
- Collections in H1 FY27 were INR 76 billion, 19% higher year on year; operating cash flow was INR 27 billion.
- The Mulund-Airoli-Palava Freeway is nearing completion and will significantly improve connectivity, expected to boost Palava pre-sales in 2027.
- Data center platform progressing with planned construction of first BTS box in FY27 and rental earnings expected from FY29.
- 1 data center land transaction of approximately INR 1,500 crores is planned in Q4 FY27.
Funding and capital details
- Net debt stood at INR 52 billion as of H1 FY27 with a target to become net debt-free in 2-3 years.
- Operating cash flow for FY27 expected around INR 85 billion, supporting liquidity and growth.
- Land sales in the data center business expected every 6 months, adding predictable cash flow and profit contributions.
Strategic context
- The company plans to expand its footprint with new projects in Gurugram NCR, supplementing growth beyond Mumbai and Bangalore.
- Infrastructure improvements such as the Mulund-Airoli-Palava Freeway and the scheduled 2029 bullet train opening are expected to enhance real estate demand in Palava.
- Interest rate increases have limited impact on Lodha’s market segments, with major sales in INR 1 to 5 crore and above INR 5 crore price segments, which show resilience.
Highlights
- Profit after tax for H1 FY27 at INR 2,386 crores, a 63% year-on-year increase.
- Revenue for H1 FY27 at INR 9,460 crores, increased by 30%.
- Pre-sales for H1 FY27 at INR 96 billion, a 7% rise, with full year pre-sales guidance at INR 24,000 crores.
- Net debt reduced to INR 52 billion (~0.2x equity).
- Strong Bangalore project pre-sales of INR 1,800 crores in Q2.
- New Gurugram NCR project pre-sales initiated successfully in Q2 FY27.
Disclosures
- Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.
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