Lodha Developers Limited Earnings Summary — Q1 FY2027
Lodha Developers Reports Strong Profit Growth with Net Income Up 103% YoY
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 5 consecutive quarters.
- Revenue of ₹4,997 Cr is 43.1% higher year-on-year.
- Revenue has compounded at 10.2% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹1,372 Cr is 103.4% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 37.9% annualised across the period.
- Operating margin stands at 38.5% in Q1 FY2027.
- Operating margin expanded by 1028 bps year-on-year.
- Over the last two years operating margin has expanded by 1190 bps.
- PBT margin is 35.5%.
- Expense growth of 22.6% remained below revenue growth of 43.1%.
- Operating profit of ₹1,922 Cr is 95.3% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 87/100 (Excellent) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 4,997 | 4,714 | 4,673 | 3,799 | 3,492 | 4,224 | 4,083 | 2,626 | 2,847 | 4,019 |
| Expenses | Stable | 3,074 | 3,301 | 3,257 | 2,690 | 2,508 | 3,004 | 2,777 | 1,922 | 2,090 | 2,972 |
| Operating Profit | Accelerating | 1,922 | 1,413 | 1,415 | 1,108 | 984 | 1,220 | 1,306 | 704 | 756 | 1,046 |
| Operating Margin | Improving | 38.5% | 30.0% | 30.3% | 29.2% | 28.2% | 28.9% | 32.0% | 26.8% | 26.6% | 26.0% |
| Other Income | Volatile | 102 | 129 | 111 | 80 | 133 | 196 | 64 | 59 | 72 | 65 |
| Interest | Improving | 179 | 167 | 185 | 157 | 148 | 152 | 144 | 137 | 117 | 116 |
| Depreciation | Stable | 69 | 111 | 98 | 71 | 66 | 78 | 67 | 67 | 60 | 117 |
| Profit Before Tax | Accelerating | 1,776 | 1,264 | 1,243 | 961 | 904 | 1,187 | 1,159 | 560 | 651 | 879 |
| Tax | Accelerating | 403 | 256 | 285 | 171 | 228 | 264 | 214 | 137 | 175 | 212 |
| Net Profit | Improving | 1,372 | 1,008 | 957 | 789 | 675 | 922 | 944 | 423 | 475 | 666 |
| Net Margin | Improving | 27.5% | 21.4% | 20.5% | 20.8% | 19.3% | 21.8% | 23.1% | 16.1% | 16.7% | 16.6% |
Key Takeaways
- Revenue from operations surged 43.1% YoY to ₹49,967 million, reflecting strong execution and delivery timelines.
- Consolidated Net Profit doubled compared to the same quarter last year, reaching ₹13,731 million with significant margin expansion.
- Operating margins saw a Sharp increase to 43.11% from 34.97% in the prior year quarter, indicating high operational leverage.
- The company continues its deleveraging journey with a Net Debt Equity Ratio improving to 0.20x from 0.25x YoY.
- Standalone results exclude the impact of the proposed merger of National Standard (India) Limited and Roselabs Finance Limited, which was filed in June 2026.
- Lodha continues to focus on a single reportable segment (Real Estate Development) with operations exclusively in India.
Management Guidance
Management aims for a net-debt-zero position in the near term while pivoting towards asset-light Joint Development Agreements (JDA) to sustain high ROCE. Growth is targeted in premium and mid-income segments across MMR, Pune, and Bengaluru.
Sentiment Shift
Improving
The company has transitioned from a de-leveraging focus to a growth-oriented compounder phase, evidenced by doubling profits and significant operating efficiency gains.
Outlook
Strong outlook backed by massive structural deleveraging and a strategic shift to asset-light growth. Market leader position in MMR and expansion into new geographies provide long-term visibility.
From the Annual Report (Key Quotes)
“The figures for the quarter ended 31-March-2026 are the balancing figures between audited results in respect of full financial year and the published year to date reviewed figures.”
“A Scheme of merger by absorption of two listed subsidiaries... was filed with the Hon'ble NCLT, Mumbai bench on 11-June-2026.”
“The security cover in respect of listed Secured NCDs as of 30-June-2026 is more than the requisite coverage.”
Official Quarterly Documents
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This summary is AI-generated from Lodha Developers Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.