Lodha Developers Reports Record Q4 Pre-Sales Despite Geopolitical Challenges
Mumbai: Realty major Lodha Developers has reported its highest-ever quarterly pre-sales in the March quarter of 2025-26, reflecting sustained demand momentum across key markets. Despite geopolitical developments, which led to some deferral of transactions toward the end of the period, the company's performance remains robust.
Pre-sales for the quarter stood at Rs 5,890 crore, marking a 23% year-on-year growth. For the full year, pre-sales rose 16% to Rs 20,530 crore. The developer indicated that March sales were lower than expected by around Rs 470 crore due to selective deferrals linked to the Iran conflict.
Collections during the quarter rose 18% to Rs 5,230 crore, supported by a ramp-up in construction activity and improved execution. For 2025-26, collections stood at Rs 15,160 crore, reflecting a 5% increase over the previous year. This indicates steady conversion of sales into cash flows, the company said.
On the business development front, the company added one project in the Mumbai Metropolitan Region (MMR) during the quarter with a gross development value (GDV) of Rs 1,300 crore. Over the full year, Lodha Developers added 12 projects across MMR, Pune, Bengaluru, and NCR, with a combined GDV of around Rs 60,000 crore, significantly exceeding its annual guidance.
As of April 1, the company has a saleable pipeline of around Rs 200,000 crore, excluding township land bank not planned for near-term development. With a substantial pipeline already in place, the company expects to moderate business development investments over the next 24 months and focus on strengthening free cash flow generation.
Balance sheet metrics improved during the quarter, with net debt reducing by Rs 800 crore to Rs 5,370 crore, supported by strong collections. Despite significant investments in project additions during the year, Lodha Developers maintained a net debt-to-equity ratio of 0.23x, well below its stated ceiling of 0.5x, indicating continued financial discipline.
