Lodha Developers Ltd

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

Lodha Developers Ltd

₹ 962 -0.54%
08 May - 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 ₹ 96,114 Cr.
  • Current Price ₹ 962
  • High / Low ₹ 1,534 / 651
  • Stock P/E 28.0
  • Book Value ₹ 233
  • Dividend Yield 0.44 %
  • ROCE 16.6 %
  • ROE 15.8 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 59.0% CAGR over last 5 years

Cons

  • Stock is trading at 4.13 times its book value
  • Company has a low return on equity of 13.8% 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

Consolidated Figures in Rs. Crores / View Standalone

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
3,255 1,617 1,750 2,931 4,018 2,846 2,626 4,083 4,224 3,492 3,798 4,672 4,714
2,487 1,289 1,338 2,055 2,972 2,090 1,922 2,777 3,004 2,508 2,690 3,257 3,301
Operating Profit 769 328 412 876 1,046 756 704 1,306 1,220 984 1,108 1,415 1,413
OPM % 24% 20% 24% 30% 26% 27% 27% 32% 29% 28% 29% 30% 30%
16 54 6 -77 65 72 59 64 196 133 80 110 129
Interest 117 124 123 117 116 117 136 144 152 148 156 185 167
Depreciation 30 24 29 33 117 60 66 67 78 66 71 98 111
Profit before tax 638 235 265 649 878 651 560 1,158 1,186 904 961 1,243 1,264
Tax % -17% 24% 24% 22% 24% 27% 24% 18% 22% 25% 18% 23% 20%
746 179 203 505 667 476 423 945 923 675 790 958 1,008
EPS in Rs 7.73 1.85 2.09 5.22 6.69 4.78 4.25 9.47 9.24 6.76 7.90 9.58 10.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6,236 8,249 7,926 9,677 11,907 12,443 5,449 9,233 9,470 10,316 13,780 16,676
4,769 6,123 6,313 7,995 8,728 10,526 4,066 7,047 7,406 7,651 9,791 11,755
Operating Profit 1,467 2,126 1,614 1,682 3,179 1,917 1,383 2,186 2,064 2,665 3,989 4,921
OPM % 24% 26% 20% 17% 27% 15% 25% 24% 22% 26% 29% 30%
423 510 584 285 72 119 -140 293 -1,037 48 390 452
Interest 492 988 736 390 568 740 1,136 688 482 482 552 657
Depreciation 128 450 460 395 194 292 73 75 93 204 272 345
Profit before tax 1,269 1,198 1,001 1,182 2,489 1,003 33 1,716 452 2,028 3,556 4,371
Tax % 37% 41% 42% 33% 34% 26% -44% 30% -8% 23% 22% 22%
798 703 584 794 1,644 742 48 1,208 490 1,554 2,767 3,431
EPS in Rs 18.46 16.25 12.91 10.03 20.66 9.19 0.51 12.49 5.05 15.58 27.71 34.32
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 20% 14% 15% 12%
Compounded Sales Growth
10 Years: 7%
5 Years: 25%
3 Years: 21%
TTM: 21%
Compounded Profit Growth
10 Years: 17%
5 Years: 59%
3 Years: 57%
TTM: 29%
Stock Price CAGR
10 Years: %
5 Years: 23%
3 Years: 25%
1 Year: -22%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 14%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 108 108 113 396 396 396 396 482 482 994 998 999
Reserves 3,186 3,865 3,920 4,756 3,445 4,156 4,203 11,624 12,181 16,475 19,180 22,287
11,852 13,835 16,183 22,616 25,641 18,423 18,193 11,537 9,060 7,698 7,094 9,896
12,752 13,173 13,715 12,483 20,382 17,717 16,516 14,763 17,399 22,031 22,325 25,754
Total Liabilities 27,898 30,981 33,931 40,251 49,864 40,693 39,308 38,404 39,122 47,198 49,597 58,937
2,290 1,899 1,753 2,197 2,139 2,021 1,946 1,923 1,828 1,169 1,368 2,651
CWIP 4 176 109 6 6 6 6 0 0 4 4 0
Investments 595 611 1,180 1,384 1,405 1,553 1,579 574 246 2,500 1,250 1,454
25,008 28,295 30,888 36,664 46,314 37,112 35,776 35,908 37,048 43,524 46,976 54,832
Total Assets 27,898 30,981 33,931 40,251 49,864 40,693 39,308 38,404 39,122 47,198 49,597 58,937

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
387 1,469 696 -463 3,772 2,524 1,998 2,750 2,512 1,566 959
-854 -1,174 -651 -175 182 420 1,139 1,789 -2,947 47 -780
330 -312 24 736 -4,188 -2,835 -2,888 -3,706 951 -2,506 1,589
Net Cash Flow -137 -16 69 97 -234 109 250 834 516 -893 1,768
Free Cash Flow 289 1,405 654 -562 3,743 2,530 1,965 2,674 2,346 1,091 709
CFO/OP 34% 119% 75% -5% 201% 176% 100% 143% 95% 55% 39%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 63 30 28 29 15 23 44 26 28 28 21 32
Inventory Days 1,500
Days Payable 127
Cash Conversion Cycle 63 30 28 29 15 23 44 26 28 28 21 1,405
Working Capital Days 655 590 -166 -262 -0 -31 114 360 387 442 441 432
ROCE % 13% 9% 7% 11% 6% 7% 10% 9% 11% 15% 17%

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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