Lodha Developers Ltd
LODHA NSE
Lodha Developers Ltd
Consumer Discretionary F&ONSE: LODHA BSE: 543287 Realty
Lodha Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in terms of presales and development pipeline in India with a presence in MMR, Pune and entered in Bengaluru market in Nov'23.[1]
AI Verdict: BUY Confidence: 7%
Lodha Developers offers strong profit growth of 57% CAGR over 3 years and robust sales growth of 21% TTM, backed by 83% analyst buy ratings. However, the 38% stock price decline in the past year and elevated valuation at 4x book value warrant caution, making it a high-conviction buy only for investors with a 2-3 year horizon.
Key Fundamentals
MidcapResidential Commercial ProjectsRealtyMarket Cap
₹96,238 Cr
Volatility
Moderate
P/E Ratio
27.6
EBITDA
₹4,921 Cr
Return on Equity
8.86%
Debt to Equity
0.4
Book Value
₹228.69
EPS
₹19.37
52W High
₹1,509.8
52W Low
₹650.8
Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 59.0% CAGR over last 5 years
Weaknesses
2- Stock is trading at 4.02 times its book value
- Company has a low return on equity of 13.8% over last 3 years.
Growth Rate
Revenue Growth
17.69% ↗
Net Income Growth
22.10% ↗
Cash Flow Change
-37.68% ↘
ROE
54.29% ↗
ROCE
47.12% ↗
EBITDA Margin (Avg.)
-7.02% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoBUY
Risk high
Lodha Developers offers strong profit growth of 57% CAGR over 3 years and robust sales growth of 21% TTM, backed by 83% analyst buy ratings. However, the 38% stock price decline in the past year and elevated valuation at 4x book value warrant caution, making it a high-conviction buy only for investors with a 2-3 year horizon.
Bull Case 8
- Exceptional profit growth with 57% CAGR over 3 years and 59% CAGR over 5 years, indicating strong operating leverage
- Consistent revenue growth at 21% CAGR over 3 years and 25% over 5 years, reflecting sustained demand for premium real estate
- Overwhelming analyst consensus with 83.33% buy ratings (15 out of 18 analysts) and zero sell ratings
- Improving ROE trajectory from 14% (3-year average) to 16% in the last year, showing better capital efficiency
- TTM profit growth of 29% continues to outpace revenue growth of 21%, demonstrating margin expansion
- Market cap of Rs 92,103 crore provides institutional-grade liquidity and index inclusion benefits
- Stock price correction of 38% in the last year creates a more attractive entry point relative to fundamentals
- Long-term stock CAGR of 22% over 5 years validates the secular growth story in Indian premium housing
Bear Case 8
- Stock has declined 38% in the past year, indicating significant negative momentum and potential structural concerns
- Trading at 4.02x book value is expensive for a real estate developer with cyclical earnings
- PE ratio of 26.8x is elevated for a sector prone to cyclical downturns and regulatory risks
- 3-year average ROE of only 13.8% is modest given the high valuation multiple investors are paying
- Dividend yield of just 0.46% offers minimal income cushion during periods of capital depreciation
- Real estate sector is capital intensive and debt-equity data is unavailable, creating uncertainty around leverage risk
- 10-year sales CAGR of only 7% suggests the recent high growth phase may not be sustainable long-term
- 16.67% of analysts recommend hold, suggesting not all coverage is fully convinced at current levels
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Positives 1
- Two independent directors appointed May 28
Shareholders approved appointment of Akhil Gupta and re-appointment of Lee Polisano as Independent Directors via postal ballot, with over 95% approval from votes polled.
Neutral 1
- Thane Commercial subsidiary ceased Jun 10
Lodha Developers transferred shares of Thane Commercial Tower A Management Private Limited to unit holders, completing the transfer on June 10, 2026.
TL;DR: Limited news flow for Lodha Developers in recent weeks. Governance remains sound with strong shareholder backing for board appointments at over 95% approval. The subsidiary transfer is a routine corporate action with no material impact. No visible headwinds in the current news cycle, though the thin information flow makes it difficult to assess near-term momentum.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,255 | 1,617 | 1,750 | 2,931 | 4,018 | 2,846 | 2,626 | 4,083 | 4,224 | 3,492 | 3,798 | 4,672 | 4,714 |
| Expenses | 2,487 | 1,289 | 1,338 | 2,055 | 2,972 | 2,090 | 1,922 | 2,777 | 3,004 | 2,508 | 2,690 | 3,257 | 3,301 |
| Operating Profit | 769 | 328 | 412 | 876 | 1,046 | 756 | 704 | 1,306 | 1,220 | 984 | 1,108 | 1,415 | 1,413 |
| OPM % | 24% | 20% | 24% | 30% | 26% | 27% | 27% | 32% | 29% | 28% | 29% | 30% | 30% |
| Other Income | 16 | 54 | 6 | -77 | 65 | 72 | 59 | 64 | 196 | 133 | 80 | 110 | 129 |
| Interest | 117 | 124 | 123 | 117 | 116 | 117 | 136 | 144 | 152 | 148 | 156 | 185 | 167 |
| Depreciation | 30 | 24 | 29 | 33 | 117 | 60 | 66 | 67 | 78 | 66 | 71 | 98 | 111 |
| PBT | 638 | 235 | 265 | 649 | 878 | 651 | 560 | 1,158 | 1,186 | 904 | 961 | 1,243 | 1,264 |
| Tax % | -17% | 24% | 24% | 22% | 24% | 27% | 24% | 18% | 22% | 25% | 18% | 23% | 20% |
| Net Profit | 746 | 179 | 203 | 505 | 667 | 476 | 423 | 945 | 923 | 675 | 790 | 958 | 1,008 |
| EPS in Rs | 7.73 | 1.85 | 2.09 | 5.22 | 6.69 | 4.78 | 4.25 | 9.47 | 9.24 | 6.76 | 7.9 | 9.58 | 10.09 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,236 | 8,249 | 7,926 | 9,677 | 11,907 | 12,443 | 5,449 | 9,233 | 9,470 | 10,316 | 13,780 | 16,676 |
| Expenses | 4,769 | 6,123 | 6,313 | 7,995 | 8,728 | 10,526 | 4,066 | 7,047 | 7,406 | 7,651 | 9,791 | 11,755 |
| Operating Profit | 1,467 | 2,126 | 1,614 | 1,682 | 3,179 | 1,917 | 1,383 | 2,186 | 2,064 | 2,665 | 3,989 | 4,921 |
| OPM % | 24% | 26% | 20% | 17% | 27% | 15% | 25% | 24% | 22% | 26% | 29% | 30% |
| Other Income | 423 | 510 | 584 | 285 | 72 | 119 | -140 | 293 | -1,037 | 48 | 390 | 452 |
| Interest | 492 | 988 | 736 | 390 | 568 | 740 | 1,136 | 688 | 482 | 482 | 552 | 657 |
| Depreciation | 128 | 450 | 460 | 395 | 194 | 292 | 73 | 75 | 93 | 204 | 272 | 345 |
| PBT | 1,269 | 1,198 | 1,001 | 1,182 | 2,489 | 1,003 | 33 | 1,716 | 452 | 2,028 | 3,556 | 4,371 |
| Tax % | 37% | 41% | 42% | 33% | 34% | 26% | -44% | 30% | -8% | 23% | 22% | 22% |
| Net Profit | 798 | 703 | 584 | 794 | 1,644 | 742 | 48 | 1,208 | 490 | 1,554 | 2,767 | 3,431 |
| EPS in Rs | 18.46 | 16.25 | 12.91 | 10.03 | 20.66 | 9.19 | 0.51 | 12.49 | 5.05 | 15.58 | 27.71 | 34.32 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 14% | 15% | 12% |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 108 | 108 | 113 | 396 | 396 | 396 | 396 | 482 | 482 | 994 | 998 | 999 |
| Reserves | 3,186 | 3,865 | 3,920 | 4,756 | 3,445 | 4,156 | 4,203 | 11,624 | 12,181 | 16,475 | 19,180 | 22,287 |
| Borrowings | 11,852 | 13,835 | 16,183 | 22,616 | 25,641 | 18,423 | 18,193 | 11,537 | 9,060 | 7,698 | 7,094 | 9,896 |
| Other Liabilities | 12,752 | 13,173 | 13,715 | 12,483 | 20,382 | 17,717 | 16,516 | 14,763 | 17,399 | 22,031 | 22,325 | 25,754 |
| Total Liabilities | 27,898 | 30,981 | 33,931 | 40,251 | 49,864 | 40,693 | 39,308 | 38,404 | 39,122 | 47,198 | 49,597 | 58,937 |
| Fixed Assets | 2,290 | 1,899 | 1,753 | 2,197 | 2,139 | 2,021 | 1,946 | 1,923 | 1,828 | 1,169 | 1,368 | 2,651 |
| CWIP | 4 | 176 | 109 | 6 | 6 | 6 | 6 | 0 | 0 | 4 | 4 | 0 |
| Investments | 595 | 611 | 1,180 | 1,384 | 1,405 | 1,553 | 1,579 | 574 | 246 | 2,500 | 1,250 | 1,454 |
| Other Assets | 25,008 | 28,295 | 30,888 | 36,664 | 46,314 | 37,112 | 35,776 | 35,908 | 37,048 | 43,524 | 46,976 | 54,832 |
| Total Assets | 27,898 | 30,981 | 33,931 | 40,251 | 49,864 | 40,693 | 39,308 | 38,404 | 39,122 | 47,198 | 49,597 | 58,937 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | 387 | 1,469 | 696 | -463 | 3,772 | 2,524 | 1,998 | 2,750 | 2,512 | 1,566 | 959 |
| Investing | — | -854 | -1,174 | -651 | -175 | 182 | 420 | 1,139 | 1,789 | -2,947 | 47 | -780 |
| Financing | — | 330 | -312 | 24 | 736 | -4,188 | -2,835 | -2,888 | -3,706 | 951 | -2,506 | 1,589 |
| Net Cash Flow | — | -137 | -16 | 69 | 97 | -234 | 109 | 250 | 834 | 516 | -893 | 1,768 |
| Free Cash Flow | — | 289 | 1,405 | 654 | -562 | 3,743 | 2,530 | 1,965 | 2,674 | 2,346 | 1,091 | 709 |
| CFO/OP | — | 34 | 119 | 75 | -5 | 201 | 176 | 100 | 143 | 95 | 55 | 39 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 30 | 28 | 29 | 15 | 23 | 44 | 26 | 28 | 28 | 21 | 32 |
| Inventory Days | — | — | — | — | — | — | — | — | — | — | — | 1,500 |
| Days Payable | — | — | — | — | — | — | — | — | — | — | — | 127 |
| Cash Conversion Cycle | 63 | 30 | 28 | 29 | 15 | 23 | 44 | 26 | 28 | 28 | 21 | 1,405 |
| Working Capital Days | 655 | 590 | -166 | -262 | 0 | -31 | 114 | 360 | 387 | 442 | 441 | 432 |
| ROCE % | — | 13% | 9% | 7% | 11% | 6% | 7% | 10% | 9% | 11% | 15% | 17% |
Documents
2
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
30 Apr - Transcript of Earning Conference Call held on April 27, 2026 30 Apr - Transcript of Earning Conference Call held on April 27, 2026
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
29 Apr - Lodha Developers Limited has informed about Copy of Newspaper Publication pertaining to the postal ballot notice 29 Apr - Lodha Developers Limited has informed about Copy of Newspaper Publication pertaining to the postal ballot notice
5
Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Apr - Copy of Newspaper Publication regarding the Audited Financial Results of the Company for the quarter and financial year ended March 31, 2026. 25 Apr - Copy of Newspaper Publication regarding the Audited Financial Results of the Company for the quarter and financial year ended March 31, 2026.
Frequently Asked Questions about Lodha Developers Ltd
What does Lodha Developers Ltd do?
Lodha Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in terms of presales and development pipeline in India with a presence in MMR, Pune and entered in Bengaluru market in Nov'23.[1]
Where is Lodha Developers Ltd (LODHA) listed?
Lodha Developers Ltd is listed on the Indian stock exchanges. It is listed on NSE: LODHA and BSE: 543287. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Lodha Developers Ltd belong to?
Lodha Developers Ltd operates in the Consumer Discretionary sector within the Realty industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Lodha Developers Ltd?
Lodha Developers Ltd has a market capitalisation of approximately ₹96238.26 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Lodha Developers Ltd?
The Price-to-Earnings (PE) ratio of Lodha Developers Ltd is 27.60. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Lodha Developers Ltd?
Over the past 52 weeks, Lodha Developers Ltd has traded between a low of ₹650.8 and a high of ₹1,509.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Lodha Developers Ltd pay dividends?
Yes, Lodha Developers Ltd has a dividend yield of 0.45%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Lodha Developers Ltd?
Lodha Developers Ltd has a Return on Equity (ROE) of 8.86%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Lodha Developers Ltd on Tapetide?
On Tapetide, you can view Lodha Developers Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Lodha Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in terms of presales and development pipeline in India with a presence in MMR, Pune and entered in Bengaluru market in Nov'23.[1]