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Lodha Developers

LODHA NSE
₹1,122.00 No trade today
P/E
27.17
View as Markdown
MCP
Close 4 Nov 2026 ₹1,122.00 −110.50 −8.97% 1Y
Start ₹1,232.50

Key Fundamentals

MidcapRealtyConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
16.40%
Debt to Equity
0.42
EPS (TTM)
₹41.30
Book Value
₹248.57
Market Cap
—
P/E (TTM)
27.17
P/B
4.51
ROE
15.50%
Dividend Yield
0.40%
EBITDA
₹5,364 Cr
52W High
₹1,344.95
52W Low
₹650.80
Volume
0

Peer Comparison

Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects

Lodha Developers peer comparison
DLF
₹720.0039.02₹1,76,861 Cr3.911.13%9.50%6.32%₹6,375 Cr₹4,567 Cr
Lodha Developers (this company)
₹1,122.0027.17₹1,09,477 Cr4.510.40%15.50%16.40%₹18,181 Cr₹4,129 Cr
Phoenix Mills
₹2,079.5058.10₹73,757 Cr8.170.12%11.00%12.40%₹4,545 Cr₹1,629 Cr
Prestige Estates Projects
₹1,580.0059.74₹67,457 Cr4.180.13%7.53%10.40%₹13,053 Cr₹1,265 Cr
Oberoi Realty
₹1,710.9023.64₹61,958 Cr3.260.24%14.60%17.30%₹6,214 Cr₹2,632 Cr
Godrej Properties
₹1,739.0032.73₹51,392 Cr2.710.60%8.82%7.63%₹5,203 Cr₹1,591 Cr
Brigade Enterprises
₹541.1025.40₹17,553 Cr2.470.38%10.50%10.50%₹5,532 Cr₹784 Cr
Median 7 companies₹1,580.0032.73₹67,457 Cr3.910.38%10.50%10.50%₹6,214 Cr₹1,629 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

57 Good

Data confidence 100/100

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
70
Strong
Cheap vs sector & own history 24% weight
Growth
78
Strong
Sales & profit trajectory 9% weight
Financial Health
32
Poor
Solvency, leverage, coverage 9% weight
Momentum
65
Good
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 58.4% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 4.59 times its book value
  • Promoter holding has decreased over last quarter: -1.96%
  • Company has a low return on equity of 13.6% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish4312
OscillatorsNeutral333
Moving AveragesStrong Bullish109

Key readings

RSI (14)
58.26
Neutral
MACD (12,26,9)
−18.21
Bullish
SMA (50)
1,120.02
Bullish
SMA (200)
1,018.81
Bullish

As of

Analyst Rating

Based on 18 analysts
BUY89%

16 of 18 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
16
89%
HOLD
2
11%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+7.29%
5Y+25.07%
3Y+20.76%
1Y+21.02%
TTM+26.04%

Net profit

Net profit growth by window
10Y+17.18%
5Y+134.87%
3Y+91.31%
1Y+24.00%
TTM+39.21%

Operating cash flow

Operating cash flow growth by window
10Y+9.50%
5Y−17.60%
3Y−29.61%
1Y−38.76%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.75 pp
5Y+4.14 pp
3Y+7.72 pp
1Y+0.57 pp
TTM+3.01 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹7,926 Cr
Mar 2018₹9,677 Cr
Mar 2019₹11,907 Cr
Mar 2020₹12,443 Cr
Mar 2021₹5,449 Cr
Mar 2022₹9,233 Cr
Mar 2023₹9,470 Cr
Mar 2024₹10,316 Cr
Mar 2025₹13,780 Cr
Mar 2026₹16,676 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹584 Cr
Mar 2018₹794 Cr
Mar 2019₹1,644 Cr
Mar 2020₹742 Cr
Mar 2021₹48.00 Cr
Mar 2022₹1,208 Cr
Mar 2023₹490 Cr
Mar 2024₹1,554 Cr
Mar 2025₹2,767 Cr
Mar 2026₹3,431 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹1,462 Cr −9.2% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

Lodha Developers Ltd trades at ₹1,122 as of 2026-11-04 with a market cap of ₹1,09,477 crore, a P/E (TTM) of 27.17x and a P/B of 4.51x. The company has posted strong compounded profit growth of 58% over five years alongside 25% compounded sales growth over the same period, while carrying a moderate debt-to-equity ratio of 0.42.

Bull Case 7
  • Compounded profit growth of 58% CAGR over the last 5 years reflects a sustained earnings expansion trajectory
  • TTM profit growth of 39% indicates continued earnings momentum in the most recent period
  • Compounded sales growth of 25% over 5 years and 26% TTM shows robust top-line expansion
  • Debt-to-equity ratio of 0.42 is moderate for a realty company, suggesting the balance sheet is not overleveraged
  • ROCE of 18.07% indicates the company is generating reasonable returns on total capital employed
  • 10-year compounded profit growth of 17% demonstrates long-term earnings resilience through real estate cycles
  • The stock is trading roughly 17% below its 52-week high of ₹1,344.95, which may reflect some correction from peak levels
Bear Case 8
  • P/B ratio of 4.51x is elevated, meaning the stock trades at over four-and-a-half times its book value
  • Promoter holding declined by 1.96% in the last quarter, signalling potential dilution or reduced promoter confidence
  • 3-year average ROE of roughly 14% is modest relative to the premium valuation the market assigns
  • P/E (TTM) of 27.17x is a rich multiple for a cyclical realty business susceptible to demand and interest-rate swings
  • Dividend yield of just 0.4% offers minimal income return to shareholders at current price levels
  • 10-year compounded sales growth of only 7% suggests the strong recent top-line growth may not be sustainable over full cycles
  • 1-year stock CAGR of -7% indicates recent negative price performance despite strong underlying profit growth
  • Real estate is inherently cyclical, and the current strong growth rates (56% 3-year profit CAGR) may mean-revert as the cycle matures

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Lodha Developers delivered strong YoY growth in Q2FY27 with 28% PAT growth and margin expansion, supported by a robust H1 pre-sales run-rate at 40% of full-year guidance. The ₹20,000 crore H2 launch pipeline and geographic expansion into NCR and Bengaluru provide clear growth levers. Key risks include sequential profit softness, unproven NCR market execution, and macro headwinds from geopolitical tensions and rising interest rates. The trend remains firmly positive on an annual basis, with H2 launches being the critical catalyst to watch.

Headwinds 4
  • Sequential PAT decline in Q2 Oct 30

    Profit after tax fell sequentially from ₹1,373 crore in Q1FY27 to ₹1,013 crore in Q2FY27, a quarter-on-quarter decline.

  • Middle East conflict concerns Oct 30

    Management flagged continuing Middle East conflict and is tracking geopolitical and macroeconomic implications, along with the impact of recent domestic interest rate rises.

  • Net debt at ₹5,279 crore Oct 30

    Net debt stood at ₹5,279 crore as of September 30, 2026, though net debt-to-equity ratio remains controlled at 0.2x against a 0.5x ceiling.

Positives 8
  • Q2 PAT up 28% YoY Oct 30

    Consolidated net profit rose 28.3% YoY to ₹1,013 crore in Q2FY27, while H1FY27 PAT jumped 63% YoY to ₹2,386 crore.

  • Revenue grows 17.6% YoY Oct 30

    Revenue from operations increased 17.6% YoY to ₹4,468 crore in Q2FY27, with operating margin improving to 36.1% from 34.4%.

  • ₹20,000 cr H2 launch pipeline Oct 30

    After ₹4,000 crore of launches in H1, the company has a significantly larger residential launch pipeline of around ₹20,000 crore for H2FY27.

Neutral 1
  • Analyst meets scheduled mid-Nov Nov 04

    Lodha Developers will attend investor conferences on November 17 and 18, 2026, with no unpublished price-sensitive information to be shared.

Quarterly Results

₹ Cr
LODHA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,617
1,750
2,931
4,018
2,846
2,626
4,083
4,224
3,492
3,798
4,672
4,714
4,997
4,467
Expenses
1,289
1,338
2,055
2,972
2,090
1,922
2,777
3,004
2,508
2,690
3,257
3,301
3,074
2,979
Operating Profit
328
412
876
1,046
756
704
1,306
1,220
984
1,108
1,415
1,413
1,922
1,488
OPM %
20%
24%
30%
26%
27%
27%
32%
29%
28%
29%
30%
30%
38%
33%
Other Income
54
6
−77
65
72
59
64
196
133
80
103
127
102
122
Interest
124
123
117
116
117
136
144
152
148
156
185
167
179
185
Depreciation
24
29
33
117
60
66
67
78
66
71
98
111
69
83
PBT
235
265
649
879
651
560
1,158
1,187
904
961
1,236
1,262
1,776
1,342
Tax %
24%
24%
22%
24%
27%
24%
18%
22%
25%
18%
23%
20%
23%
24%
Net Profit
179
203
505
667
476
423
945
923
675
790
958
1,008
1,373
1,014
EPS (₹)
1.85
2.09
5.22
6.69
4.78
4.25
9.47
9.24
6.76
7.9
9.58
10.09
13.73
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
LODHA profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
18,181
Expenses
4,769
6,123
6,313
7,995
8,728
10,526
4,066
7,047
7,406
7,651
9,791
11,753
12,323
Operating Profit
1,467
2,126
1,614
1,682
3,179
1,917
1,383
2,186
2,064
2,665
3,989
4,923
5,858
OPM %
24%
26%
20%
17%
27%
15%
25%
24%
22%
26%
29%
30%
32%
Other Income
423
510
584
285
72
119
−140
293
−1,037
48
390
452
422
Interest
492
988
736
390
568
740
1,136
688
482
482
550
659
688
Depreciation
128
450
460
395
194
292
73
75
93
204
272
345
349
PBT
1,269
1,198
1,001
1,182
2,489
1,003
33
1,716
452
2,028
3,557
4,371
5,244
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
4,129
EPS (₹)
18.46
16.25
12.91
10.03
20.66
9.19
0.51
12.49
5.05
15.58
27.71
34.32
41.3
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
20%
14%
15%
12%
—

Balance Sheet

₹ Cr
LODHA balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
25,497
Total Liabilities
27,898
30,981
33,931
40,251
49,864
40,693
39,308
38,404
39,122
47,198
49,597
58,680
Fixed Assets
2,290
1,899
1,753
2,197
2,139
2,021
1,946
1,923
1,828
1,169
1,368
2,641
CWIP
4
176
109
6
6
6
6
0
0
4
4
10
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
54,575
Total Assets
27,898
30,981
33,931
40,251
49,864
40,693
39,308
38,404
39,122
47,198
49,597
58,680

Cash Flow

₹ Cr
LODHA cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
1,769
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

LODHA financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
63
30
28
29
15
23
44
26
28
28
21
32
Cash Conversion Cycle
63
30
28
29
15
23
44
26
28
28
21
32
Working Capital Days
655
590
−166
−262
0
−31
114
360
387
442
441
420
ROCE %
—
13%
9%
7%
11%
6%
7%
10%
9%
11%
15%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Lodha Developers insights

62 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 70.29%
  • FIIs 25.33%
  • DIIs 2.55%
  • Public 1.47%
  • Others 0.36%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Lodha Developers

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.
Where is Lodha Developers Ltd (LODHA) listed?
Lodha Developers Ltd trades as LODHA on the NSE and under code 543287 on the BSE.
Which sector does Lodha Developers Ltd belong to?
Lodha Developers Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the PE ratio of Lodha Developers Ltd?
Lodha Developers Ltd trades at a PE ratio of 27.17 as of 4 Nov 2026, on earnings per share of ₹41.3, against a book value of ₹248.57 per share.
What is the 52-week high and low of Lodha Developers Ltd?
Over the last 52 weeks Lodha Developers Ltd has traded between ₹650.8 and ₹1,344.95 as of 4 Nov 2026.
Does Lodha Developers Ltd pay dividends?
Lodha Developers Ltd has a dividend yield of 0.40%.
What is the Return on Equity (ROE) of Lodha Developers Ltd?
Lodha Developers Ltd reported a return on equity of 15.50%. Its debt-to-equity ratio is 0.42.

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.

Website lodhagroup.com
Listed 19 Apr 2021
Face Value ₹10

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