Lodha Q2 pre-sales climb 10 percent on steady housing demand
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Lodha posts 10 percent rise in quarterly sales bookings
Lodha Developers Limited, the Mumbai-based company formerly known as Macrotech Developers, reported sales bookings of ₹5,037 crore for the second quarter of fiscal 2026-27, a 10 per cent rise over the same period a year earlier. The results, announced on October 30, 2026, point to continued buyer interest in the company's residential portfolio despite wider global uncertainty.
Alongside the sales figure, the company reported quarterly revenue from operations of ₹4,468 crore, up 17.6 per cent from ₹3,798 crore a year earlier. Consolidated net profit for the quarter rose 28.3 per cent to ₹1,013 crore, while profit after tax for the first half of the year reached ₹2,386 crore, a 63 per cent increase.
Key figures from the quarter
Pre-sales for the first six months of the fiscal rose 7 per cent to ₹9,670 crore. That total already accounts for more than 40 per cent of the company's original full-year guidance, and the management has described this progress as in line with its initial projections. The company's pre-sales in the preceding quarter stood at ₹4,630 crore, and the second quarter of last year recorded ₹4,570 crore.
Profit after tax margin for the quarter was 22.1 per cent, and the exit cost of debt held steady at 7.8 per cent. Net debt stood at ₹5,279 crore as of September 30, 2026, and the net debt-to-equity ratio remained at around 0.2 times, comfortably below the company's ceiling of 0.5 times.
- Q2 FY27 sales bookings: ₹5,037 crore, up 10 per cent
- Q2 FY27 revenue from operations: ₹4,468 crore, up 17.6 per cent
- Q2 FY27 consolidated net profit: ₹1,013 crore, up 28.3 per cent
- H1 FY27 profit after tax: ₹2,386 crore, up 63 per cent
- H1 FY27 pre-sales: ₹9,670 crore, up 7 per cent
- Net debt as of September 30, 2026: ₹5,279 crore
Management outlook and demand view
Managing Director Abhishek Lodha said the September quarter reflected strong operating and financial performance, building on the momentum the company has sustained since its initial public offering in 2021. He said the response to the quarter's launches reaffirmed robust demand for a quality brand and helped address concerns about AI-led disruption affecting segments beyond affordable housing.
The company expects to comfortably exceed its full-year profit guidance. Lodha also said rising interest rates were unlikely to have a direct impact on housing demand in the segments the company serves, while noting that it continues to track the implications of the conflict in the Middle East.
Looking beyond residential sales, Abhishek Lodha said the rental business could expand through data centres and AI infrastructure, with annuity income expected to rise from about ₹300 crore currently to ₹3,000 crore by FY32.
Location and footprint
Lodha's operations are concentrated in the Mumbai Metropolitan Region, Pune and Bengaluru. In Bengaluru, the company's Lodha Mirabelle project near Manyata Tech Park in North Bengaluru was its city debut and is among the more widely noted luxury launches in that micro-market. A new launch in North Bengaluru was also introduced during the quarter, adding to the company's presence in the city's northern corridor.
The developer
Lodha Developers Limited is one of Mumbai's larger listed real estate companies and has grown steadily since listing after its 2021 public offering. For fiscal 2025-26 the company recorded sales bookings of ₹20,530 crore, and it reported a business development push of 12 projects during that year. The company has also begun to diversify, with a planned first pilot project in the Delhi-NCR region and first commercial development in Bengaluru's Whitefield area.
What comes next
The company's sales bookings target for fiscal 2026-27 is ₹24,000 crore. It has identified a launch pipeline of 15.6 million square feet for the remainder of the year, and it plans to launch its first pilot project in Delhi-NCR during the festive season. Investors will be watching progress toward the sales target, execution of the launch pipeline, and the company's future disclosures on collections and debt levels.