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Lodha Developers Ltd, one of India's largest real estate firms, acquired a land parcel in the Mumbai Metropolitan Region during the past quarter to develop a residential project valued at around INR 2,300 crore. With this purchase, the company achieved its annual business development goal, reaching a cumulative potential revenue of INR 25,000 crore for the fiscal year. Despite limited project launches, Lodha recorded a 7% rise in quarterly pre-sales, backed by sustained housing demand. The developer now aims to meet its full-year sales target of INR 21,000 crore, with significant project launches planned for the coming months.
Lodha Developers Ltd strengthened its real estate portfolio by acquiring a new land parcel in the Mumbai Metropolitan Region during the July-September quarter, intended for a housing project estimated at INR 2,300 crore. The acquisition enabled the company to meet its full-year target of securing land parcels with a cumulative gross development value of INR 25,000 crore. Advertisement
In its latest operational update for the second quarter of FY26, the company noted that it had added a project worth INR 2,300 crore in MMR. However, Lodha did not clarify whether the acquisition was an outright purchase or structured through a joint development agreement. The developer stated that it had already achieved its annual business development guidance within the first half of the fiscal year and maintained a strong pipeline of upcoming projects.
In the first quarter, Lodha Developers had acquired five land parcels across Mumbai, Pune and Bengaluru, representing a total potential revenue of INR 22,700 crore. During the previous fiscal year, the firm secured ten land parcels for residential projects with a combined value of INR 23,700 crore.
The company's performance on the sales front also remained positive, with pre-sales rising by 7% to INR 4,570 crore during the second quarter of the current fiscal year, compared to INR 4,290 crore in the same period last year. Lodha attributed the growth to sustained housing demand, even though new launches were limited during the quarter.
Cumulatively, the firm's pre-sales grew by 8% to INR 9,020 crore in the first half of this fiscal, up from INR 8,320 crore in the corresponding period a year earlier. With the Supreme Court having recently cleared the Environmental Clearance process, Lodha expects several major launches in the second half of the year and remains confident about meeting its FY26 pre-sales guidance of INR 21,000 crore.
In FY25, Lodha's sales bookings rose to INR 17,630 crore from INR 14,520 crore in the preceding year, while the company achieved a net profit of INR 2,766.6 crore on a total income of INR 14,169.8 crore. Its shares closed at INR 1,154.70 apiece on the BSE recently, giving it a market capitalisation of over INR 1.15 lakh crore.
Having already met its annual land acquisition target and recorded steady growth in pre-sales, the company is now gearing up for a robust second half of the fiscal year with key project launches expected in major markets. Its strong presence across Mumbai, Pune and Bengaluru, coupled with a healthy development pipeline, reflects Lodha's continued focus on scaling up operations and capitalising on housing demand across the country.
Source - PTI
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