Lodha's profit after tax rises to ₹ 1,373 crores in Q1FY27, up 2x

Lodha, India's leading real estate developer, announced its financial results for the quarter ended June 30, 2026. The Company reported its best-ever quarterly post-tax profit of ₹1,373 crores, rising 2x compared to the same quarter last year. Revenues rose 43% to ₹4,997 crores. Net debt declined by ₹ 446 crores during the quarter to ₹ 4,931 crores, driven by strong operating cash flows. Pre-sales for the quarter stood at ₹ 4,629 crores. Collections for the period was at ₹ 4,205 crores growing by 46% YoY.

Key Financial & Operational Highlights (Q1 FY27 vs Q1 FY26)

Note: Financial statement figures in the official filing are reported in ₹ million and converted to ₹ crore for reporting consistency (1 Crore = 10 Million).

Revenue from Operations: Surged 43.10% YoY to ₹4,996.70 crore, compared to ₹3,491.70 crore in Q1 FY26 (up 6.01% QoQ from ₹4,713.50 crore in Q4 FY26).

Total Income: Advanced 40.61% YoY to ₹5,096.70 crore, versus ₹3,624.70 crore in Q1 FY26 and ₹4,840.50 crore in Q4 FY26.

Profit Before Tax (PBT): Climbed 96.56% YoY to ₹1,775.90 crore, up from ₹903.50 crore in Q1 FY26 and ₹1,263.90 crore in Q4 FY26.

Tax Expenses: Totaled ₹402.80 crore (comprising current tax of ₹390.00 crore and deferred tax of ₹12.80 crore), compared to ₹228.40 crore in Q1 FY26.

Net Profit After Tax (PAT): Surged 103.39% YoY to ₹1,373.10 crore, compared to ₹675.10 crore in Q1 FY26 (up 36.21% QoQ from ₹1,008.10 crore in Q4 FY26).

PAT Attributable to Owners: Stood at ₹1,372.10 crore (versus ₹674.70 crore in Q1 FY26).

Total Comprehensive Income: Reached ₹1,369.70 crore (versus ₹672.30 crore in Q1 FY26).

Earnings Per Share (EPS): Basic EPS rose to ₹13.73 per equity share (face value ₹10/- each, not annualized), up from ₹6.76 in Q1 FY26 and ₹10.09 in Q4 FY26. Diluted EPS stood at ₹13.70.

Operational Metrics, Pre-Sales, & Cash Flows

Pre-Sales: Quarterly pre-sales recorded at ₹4,629 crore.

Collections: Collections grew 46% YoY to ₹4,205 crore, driven by strong operational cash flow generation.

Net Debt Reduction: Net debt decreased by ₹446 crore during the quarter to ₹4,931 crore.

Net Debt-to-Equity: Placed comfortably at 0.2x, remaining well below the company's internal ceiling of 0.5x.

Cost of Debt: Exit cost of debt for Q1 FY27 remained stable at 7.8%, maintaining its position among the lowest borrowing costs in the Indian real estate industry.

Project Pipeline: Backed by substantial business development over the past five years, Lodha holds a robust pipeline with a Gross Development Value (GDV) of nearly ₹2,00,000 crore available for sale (excluding land bank reserved beyond the next 5 years). The company anticipates its development business (DevCo) to become net-debt free over the next few years.

Expenses Breakdown (Q1 FY27)

Total consolidated expenses for the quarter ended June 30, 2026, stood at ₹3,322.60 crore, up 22.11% YoY from ₹2,721.00 crore in Q1 FY26:

Cost of Projects: Accounted for the primary operational expenditure at ₹2,542.50 crore (versus ₹2,095.00 crore in Q1 FY26 and ₹2,759.80 crore in Q4 FY26).

Employee Benefits Expense: ₹184.40 crore (versus ₹152.00 crore in Q1 FY26).

Finance Costs: ₹179.10 crore (versus ₹147.80 crore in Q1 FY26).

Depreciation, Impairment & Amortization: ₹69.20 crore (versus ₹65.90 crore in Q1 FY26).

Other Expenses: ₹347.40 crore (versus ₹260.30 crore in Q1 FY26).

Key Balance Sheet Ratios & Metrics

Paid-Up Equity Share Capital: Stood at ₹999.10 crore (Face value ₹10/- per share).

Net Worth: Reached ₹24,309.20 crore as of June 30, 2026, up from ₹20,513.50 crore as of June 30, 2025.

Current Ratio: 1.83 (versus 1.73 in Q1 FY26).

Debt to Equity Ratio: 0.24 (versus 0.25 in Q1 FY26).

Net Debt to Equity Ratio: 0.20 (versus 0.25 in Q1 FY26).

Interest Service Coverage Ratio (ISCR): 5.49x (versus 3.66x in Q1 FY26).

Debt Service Coverage Ratio (DSCR): 2.48x (versus 1.26x in Q1 FY26).

Commenting on the performance, Mr. Abhishek Lodha, Managing Director said, "We are pleased to deliver our best-ever quarterly profit in Q1FY27, continuing the strong momentum built through FY26. It is heartening to note that profits for the quarter more than doubled on a YoY basis to ₹ 1,373 crores. Our revenue grew 43% to ₹ 4,997 crores. Our growth, coupled with rising profitability and ROEs along-side low leverage, sets Lodha apart. On the back of strong structural housing demand and accelerating consolidation in favor of tier-1 brands like Lodha, Company is confident of growing its profit at 20% CAGR over the long term. Our market share in the target segment is at 3.5% and thereby a long runway to grow over medium to long term.

We are also very pleased to welcome another leading global data center operator - Digital Edge India, JV between Digital Edge (Singapore) and National Investment and Infrastructure Fund (NIIF) - to our Green Data Center Park at Navi Mumbai (Palava) having sold land at a price over ₹ 42 cores per acre during the quarter. This further validates the extraordinary value of our Palava landholding, which has climbed more than 15x over the last five years and will continue to grow.

Our journey to grow annuity business continues to gain momentum - we expect to grow our annuity income by over 10x in the next six years to over ₹ 3,000 crore p.a. led by data centers with 1GW capacity, warehousing & industrial parks and high-street retail."

Net debt reduced by ₹ 446 crores to ₹ 4,931 crores during the quarter. The Company's overall Net debt/Equity stands at 0.2x, well below its ceiling of 0.5x. Lodha's exit cost of debt for Q1FY27 remains stable at 7.8% - among the lowest in the industry. Having done significant business development over the last five years and carrying robust pipeline of projects with GDV amounting to nearly ₹ 2,00,000 crores available for sale (excluding land bank which will be used beyond next 5 years), Company sees its DevCo business to become net-debt free over the next few years.

This continued financial discipline gives Lodha the headroom to invest just as consistently in building a better nation - a commitment the Company carries forward through the Lodha Foundation. During the quarter, the Lodha Foundation expanded its efforts to support fundamental research by launching the Lodha Theoretical Physics Institute alongside the EPQHS-10 international conference, bringing together over 120 researchers from more than 10 countries. LTPI Founding Director Prof. Jainendra K. Jain became the first Indian-origin physicist to receive the Wolf Prize, considered the 2nd highest global honor in physics after the Nobel prize.

Building on its experience, Lodha Genius completed its fourth summer programme at Ashoka University and launched its first Science Circle and Summer Programme at IISER Pune, with over 400 high-potential students participating from across India. The Lodha Foundation also piloted an innovative IoT-enabled concrete monitoring technology at a Mumbai project, generating real-time performance data.

Shares of Lodha Developers Limited was last trading in BSE at Rs. 1144.40 as compared to the previous close of Rs. 1146.60. The total number of shares traded during the day was 69995 in over 3508 trades.

The stock hit an intraday high of Rs. 1166.00 and intraday low of 1124.80. The net turnover during the day was Rs. 80100686.00.

Source : Equity Bulls

Keywords

LodhaDevelopers INE670K01029 Realty Q1FY27 Q1FY2027 ResultUpdate