Lodha Developers Ltd
Lodha Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in terms of presales and development pipeline in India with a presence in MMR, Pune and entered in Bengaluru market in Nov'23.[1]
- Market Cap ₹ 1,20,259 Cr.
- Current Price ₹ 1,205
- High / Low ₹ 1,534 / 1,035
- Stock P/E 51.5
- Book Value ₹ 192
- Dividend Yield 0.35 %
- ROCE 14.8 %
- ROE 13.4 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 25.0% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.3%
- Debtor days have improved from 26.1 to 20.0 days.
Cons
- Stock is trading at 6.29 times its book value
- Company has a low return on equity of 10.0% over last 3 years.
- Promoter holding has decreased over last 3 years: -10.3%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Part of BSE 500 BSE 200 Nifty Next 50 Nifty 500 Nifty 100
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|
6,795 | 5,865 | 7,443 | 9,516 | 8,115 | 4,300 | 8,353 | 9,225 | 9,460 | 13,307 | 13,285 | |
5,137 | 4,741 | 6,071 | 7,105 | 6,205 | 3,310 | 6,388 | 7,237 | 7,134 | 9,570 | 9,695 | |
Operating Profit | 1,658 | 1,124 | 1,372 | 2,411 | 1,909 | 990 | 1,966 | 1,988 | 2,326 | 3,736 | 3,590 |
OPM % | 24% | 19% | 18% | 25% | 24% | 23% | 24% | 22% | 25% | 28% | 27% |
26 | -15 | 551 | 18 | -225 | -314 | 91 | -922 | 55 | 428 | 479 | |
Interest | 201 | 169 | 697 | 414 | 786 | 823 | 402 | 529 | 545 | 664 | 660 |
Depreciation | 376 | 419 | 385 | 151 | 243 | 57 | 56 | 124 | 251 | 266 | 287 |
Profit before tax | 1,107 | 521 | 841 | 1,864 | 655 | -204 | 1,599 | 413 | 1,584 | 3,234 | 3,122 |
Tax % | 38% | 38% | 38% | 35% | 34% | -9% | 29% | -11% | 27% | 25% | |
688 | 321 | 521 | 1,212 | 433 | -186 | 1,134 | 456 | 1,164 | 2,418 | 2,336 | |
EPS in Rs | 15.92 | 7.09 | 6.58 | 15.31 | 5.47 | -2.35 | 11.77 | 4.73 | 11.70 | 24.24 | 23.42 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 21% | 19% | 18% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 10% |
3 Years: | 17% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 25% |
3 Years: | 29% |
TTM: | 40% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 33% |
1 Year: | -7% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 10% |
3 Years: | 10% |
Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 108 | 113 | 396 | 396 | 396 | 396 | 482 | 482 | 994 | 998 |
Reserves | 2,912 | 3,729 | 4,626 | 3,225 | 3,941 | 3,758 | 11,695 | 12,090 | 15,999 | 18,106 |
11,831 | 12,553 | 15,860 | 16,999 | 16,897 | 14,815 | 10,832 | 10,590 | 8,875 | 7,747 | |
10,510 | 12,155 | 9,283 | 15,000 | 13,205 | 12,998 | 14,553 | 17,190 | 21,756 | 21,895 | |
Total Liabilities | 25,361 | 28,551 | 30,165 | 35,620 | 34,439 | 31,968 | 37,562 | 40,352 | 47,624 | 48,746 |
1,212 | 1,105 | 1,863 | 1,791 | 1,685 | 1,627 | 1,712 | 1,955 | 1,129 | 941 | |
CWIP | 289 | 100 | 6 | 6 | 6 | 6 | 0 | 0 | 0 | 0 |
Investments | 1,679 | 2,587 | 925 | 982 | 1,058 | 1,059 | 612 | 380 | 2,385 | 1,387 |
22,181 | 24,758 | 27,371 | 32,841 | 31,690 | 29,276 | 35,238 | 38,017 | 44,111 | 46,418 | |
Total Assets | 25,361 | 28,551 | 30,165 | 35,620 | 34,439 | 31,968 | 37,562 | 40,352 | 47,624 | 48,746 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
2,000 | 3,456 | 1,961 | 1,633 | 1,780 | 1,183 | |||||
-147 | 496 | -1,624 | 1,684 | -1,931 | -218 | |||||
-1,985 | -3,873 | -202 | -2,377 | 667 | -1,941 | |||||
Net Cash Flow | -131 | 79 | 134 | 941 | 516 | -976 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 25 | 20 | 35 | 16 | 33 | 49 | 22 | 29 | 29 | 20 |
Inventory Days | 1,503 | |||||||||
Days Payable | 153 | |||||||||
Cash Conversion Cycle | 25 | 20 | 35 | 16 | 33 | 49 | 22 | 29 | 29 | 1,369 |
Working Capital Days | 714 | -120 | 33 | -67 | -43 | -5 | 337 | 349 | 414 | 413 |
ROCE % | 4% | 8% | 11% | 9% | 5% | 10% | 9% | 9% | 15% |
Documents
Announcements
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Update On Resignation Of Mr Rajendra Lodha
1d - Director Rajendra Lodha resigned Aug 17, 2025; matter referred to authorities; independent review recommendations implemented.
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Announcement under Regulation 30 (LODR)-Allotment
2d - Allotment of 35,000 secured NCDs aggregating ₹350 crore; 7.87% p.a., maturity 15 Sep 2029.
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Intimation Under Regulation 31A Of The SEBI (LODR) Regulations, 2015 ('Listing Regulations') - Submission Of Application To Stock Exchanges Upon Receipt Of Request For Re-Classification From 'Promoter' Category To 'Public' Category
2d - Applied Aug 30, 2025 to BSE/NSE to reclassify Mr Rajendra Lodha from Promoter to Public.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
11 Sep - MoU for Rs30,000 crore Green Data Centre Park in Palava — 2 GW capacity, 6,000 jobs, multiple investors.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
10 Sep - Company has informed regarding allotment of 72749 securities pursuant to ESOP
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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About[1]
Established in the 1980s, MDL is among India’s largest real estate developers with over 85 million square feet (msf) of developed properties, mostly within the Mumbai Metropolitan Region (MMR). As of FY24, MDL has about 40 operating projects across luxury, premium, mid-income, and affordable segments. Roughly 60% of revenue comes from affordable and mid-income segments.