Lodha Developers Aims for 43% Growth in Bookings by FY27

Lodha Developers, a prominent real estate firm in India, is setting ambitious targets for the next two fiscal years. The company aims to achieve bookings of over Rs 46,000 crore in FY26 and FY27, a 43% increase from the previous two years. This ambitious goal underscores the company's confidence in the market and its strategic positioning.

The Mumbai-headquartered real estate company has recorded significant achievements in recent years. In FY25, it booked Rs 17,600 crore, and in FY24, it booked Rs 14,500 crore. This consistent growth has placed Lodha Developers at the forefront of the Indian real estate sector.

Sushil Kumar Modi, Executive Director-Finance at Lodha Developers, outlined the company's strategy. “Our goal is to deliver 20% year-on-year presales growth, driven by a combination of 5-7% price appreciation and 13-15% volume growth, supported by a strong launch pipeline and superior execution capabilities,” he said.

The company's Gross Development Value (GDV) for FY26 launches is estimated at Rs 18,800 crore. This figure is expected to grow further as several newly acquired land parcels are brought to market within the year. Modi emphasized the company's focus on the Bengaluru market, which is expected to contribute around 15% to overall sales. “We are confident that this can be achieved well within the next decade, driven by our strategic land acquisitions, brand strength, and the city’s growing demand for quality housing,” he added.

India’s housing market is currently experiencing a long-term structural upcycle, which is likely to sustain over the next 15-20 years. Homeownership among the new-age population is rising to around 20-25%, driving robust demand. “We believe this trend will continue, and our strategic initiatives will help us capitalize on this growth,” Modi stated.

According to Crisil Ratings, residential sales of top developers are expected to see a slightly lower growth of 10-12% in FY26 compared to 12-14% in FY25. However, the overall demand remains strong, with a compound annual growth rate (CAGR) of around 26% over the past three financial years. This growth is attributed to both increased demand and higher realizations.

Lodha’s bookings are expected to grow at a CAGR of 20%, driven by healthy collections and a comfortable debt level of 0.2x at the end of the fourth quarter of FY25. Motilal Oswal, in a recent report, highlighted the company’s strategic expansion into new markets. Lodha has entered the Pune market and is scaling up at a healthy pace. Additionally, it has completed its pilot phase in Bengaluru and is scaling up with the acquisition of a 5.6 million square feet project with a GDV of Rs 6,600 crore in FY25.

The company is also expanding its commercial and industrial portfolios to generate strong rental income. “We believe the company’s ability to acquire projects at a constant pace is commendable and provides strong growth visibility, along with timely execution,” Motilal Oswal noted.

Lodha currently has an unsold inventory of 7.5 million sq ft of completed projects and 16.8 million sq ft of ongoing ones. It also has a planned inventory of around 85 million sq ft, which will help it progress toward its targeted FY31 presales guidance of Rs 50,000 crore. This robust pipeline and strategic approach position Lodha Developers well to meet its ambitious growth targets.