Lodha Developers Ltd

Lodha Developers Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Lodha Developers Ltd

₹ 913 3.38%
29 Apr - close price
lodhagroup.com BSE: 543287 NSE: LODHA
About

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]

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 91,153 Cr.
  • Current Price ₹ 913
  • High / Low ₹ 1,534 / 651
  • Stock P/E 31.2
  • Book Value ₹ 222
  • Dividend Yield 0.47 %
  • ROCE 14.6 %
  • ROE 14.0 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 55.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.1%

Cons

  • Stock is trading at 4.10 times its book value
  • Company has a low return on equity of 12.3% over last 3 years.

* 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 BSE Dollex 200 Nifty Next 50 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
3,105 1,408 1,731 2,794 3,526 2,811 2,590 4,016 3,890 3,349 2,983 4,307 3,902
2,415 1,131 1,334 1,984 2,687 2,075 1,908 2,744 2,843 2,392 2,366 2,979 2,938
Operating Profit 690 278 397 810 839 736 682 1,271 1,047 958 618 1,328 963
OPM % 22% 20% 23% 29% 24% 26% 26% 32% 27% 29% 21% 31% 25%
68 93 23 -192 130 95 91 87 155 146 64 399 268
Interest 136 154 140 130 119 147 171 186 161 173 187 212 179
Depreciation 38 41 46 42 122 57 79 66 65 63 65 99 93
Profit before tax 584 176 234 445 729 627 523 1,107 977 868 429 1,416 960
Tax % -24% 23% 25% 30% 26% 28% 25% 25% 24% 26% 22% 19% 17%
726 135 176 313 539 452 393 832 742 644 336 1,146 794
EPS in Rs 7.53 1.40 1.83 3.25 5.42 4.54 3.95 8.34 7.43 6.46 3.36 11.47 7.95
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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 Mar 2026
6,795 5,865 7,443 9,516 8,115 4,300 8,353 9,225 9,460 13,307 14,542
5,137 4,741 6,071 7,105 6,205 3,310 6,388 7,237 7,134 9,570 10,675
Operating Profit 1,658 1,124 1,372 2,411 1,909 990 1,966 1,988 2,326 3,736 3,867
OPM % 24% 19% 18% 25% 24% 23% 24% 22% 25% 28% 27%
26 -15 551 18 -225 -314 91 -922 55 428 877
Interest 201 169 697 414 786 823 402 529 545 664 751
Depreciation 376 419 385 151 243 57 56 124 251 266 320
Profit before tax 1,107 521 841 1,864 655 -204 1,599 413 1,584 3,234 3,673
Tax % 38% 38% 38% 35% 34% -9% 29% -11% 27% 25% 21%
688 321 521 1,212 433 -186 1,134 456 1,164 2,418 2,920
EPS in Rs 15.92 7.09 6.58 15.31 5.47 -2.35 11.77 4.73 11.70 24.24 29.23
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 21% 19% 18% 15%
Compounded Sales Growth
10 Years: 8%
5 Years: 28%
3 Years: 16%
TTM: 9%
Compounded Profit Growth
10 Years: 16%
5 Years: 55%
3 Years: 52%
TTM: 21%
Stock Price CAGR
10 Years: %
5 Years: 25%
3 Years: 25%
1 Year: -29%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 12%
Last Year: 14%

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 Mar 2026
Equity Capital 108 113 396 396 396 396 482 482 994 998 999
Reserves 2,912 3,729 4,626 3,225 3,941 3,758 11,695 12,090 15,999 18,588 21,212
11,831 12,553 15,860 16,999 16,897 14,815 10,832 10,590 8,875 8,033 10,725
10,510 12,155 9,283 15,000 13,205 12,998 14,553 17,190 21,756 22,206 24,630
Total Liabilities 25,361 28,551 30,165 35,620 34,439 31,968 37,562 40,352 47,624 49,824 57,566
1,212 1,105 1,863 1,791 1,685 1,627 1,712 1,955 1,129 890 2,335
CWIP 289 100 6 6 6 6 0 0 0 0 0
Investments 1,679 2,587 925 982 1,058 1,059 612 380 2,385 1,387 2,943
22,181 24,758 27,371 32,841 31,690 29,276 35,238 38,017 44,111 47,548 52,289
Total Assets 25,361 28,551 30,165 35,620 34,439 31,968 37,562 40,352 47,624 49,824 57,566

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 Mar 2026
2,000 3,456 1,961 1,633 1,780 1,183 0
-147 496 -1,624 1,684 -1,931 -218 0
-1,985 -3,873 -202 -2,377 667 -1,941 0
Net Cash Flow -131 79 134 941 516 -976 0
Free Cash Flow 1,986 3,460 1,916 1,559 1,628 987 0
CFO/OP 108% 338% 107% 92% 77% 47% 0%

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 Mar 2026
Debtor Days 25 20 35 16 33 49 22 29 29 20 22
Inventory Days 1,550 1,481
Days Payable 160 152
Cash Conversion Cycle 25 20 35 16 33 49 22 29 29 1,410 1,351
Working Capital Days 714 -120 33 -67 -43 -5 337 349 414 444 394
ROCE % 4% 8% 11% 9% 5% 10% 9% 9% 15% 15%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Area Delivered / Completed
million sq ft

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Collections
INR billion
Pre-sales Value
INR billion
Average Cost of Debt
percentage
Business Development GDV Added
INR billion

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
74.96% 74.93% 74.92% 72.16% 72.13% 72.11% 71.98% 71.94% 71.90% 71.87% 71.85% 72.27%
19.83% 20.52% 21.09% 23.79% 24.18% 24.20% 24.45% 24.64% 24.89% 24.11% 23.49% 21.24%
3.81% 3.50% 3.21% 3.32% 2.96% 2.78% 2.63% 2.36% 2.19% 2.73% 3.17% 4.62%
1.40% 1.05% 0.78% 0.73% 0.72% 0.91% 0.92% 1.04% 1.00% 1.28% 1.48% 1.85%
No. of Shareholders 55,20252,59052,80560,81267,69992,93394,6231,04,51299,2671,18,8701,35,2941,47,462

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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