Lodha Developers Q2 FY27 Profit Rises 28% to Rs 1,013 Crore; H1 Up 63%

What happened

Lodha Developers Ltd, a Mumbai-based realty company, filed its unaudited quarterly and half-year results on Friday, 30 October 2026. The board approved the results the same day, and the filing included the auditors' Limited Review Report.

Consolidated net profit for the September 2026 quarter was Rs 1,013.5 crore, a rise of about 28% from the same quarter a year earlier. Net profit margin for the quarter was 22.1%.

Managing director Abhishek Lodha said: "Basis the strong performance in the first half, we expect to easily exceed our profit guidance for the year." The company did not give a numeric profit figure for the year.

Revenue and profit in detail

• Q2 FY27 revenue from operations was Rs 4,467.4 crore, against Rs 3,798.5 crore in Q2 FY26.
• H1 FY27 revenue from operations was Rs 9,464 crore, against Rs 7,290 crore in H1 FY26.
• H1 FY27 consolidated net profit was Rs 2,386.6 crore, against Rs 1,464.9 crore a year earlier.
• Compared with the first quarter of FY27, Q2 revenue and profit were lower. Q1 FY27 revenue was Rs 4,997 crore and Q1 profit was Rs 1,373 crore. The year-on-year comparison is the one that shows growth.

Pre-sales and guidance

Q2 FY27 pre-sales were Rs 5,037 crore, up 10% from Rs 4,570 crore in Q2 FY26 and higher than the Rs 4,630 crore booked in Q1 FY27. Pre-sales for the first half total about Rs 9,667 crore, roughly 40% of the company's FY27 pre-sales guidance of Rs 24,000 crore.

Because H1 pre-sales are about 40% of that guidance, the remaining nine months of the year need substantial further bookings to reach the target. The company has kept the Rs 24,000 crore figure unchanged.

Balance sheet

Net debt stood at Rs 5,279 crore as of 30 September 2026. The net debt to equity ratio was 0.2x, below the company's 0.5x ceiling. The exit cost of debt for Q2 FY27 was 7.8%, stable on the previous quarter. Net worth at 30 September 2026 was Rs 24,915 crore.

What it means for buyers and investors

For investors, the main points are the year-on-year profit growth, the company's statement that it expects to beat its profit guidance, and a debt ratio well inside its stated ceiling. The results are company-level figures and do not themselves change any project's prices or terms.

For homebuyers, the figures that bear most directly on a company's ability to deliver projects are pre-sales and debt levels. Q2 pre-sales were higher than in the same quarter last year, and debt stayed below the company's own ceiling.

What comes next

• An analyst and investor conference call on the Q2 and H1 FY27 results is scheduled for 2 November 2026 at 1:00 PM IST.
• The company has kept FY27 pre-sales guidance at Rs 24,000 crore, and says it expects to exceed its profit guidance for the year.

Background on the company

Lodha Developers Limited was formerly Macrotech Developers Limited. The company listed on 19 April 2021 and was renamed Lodha Developers Limited on 16 June 2025. It trades on the NSE under the symbol LODHA. The group was founded in Mumbai in 1980 by Mangal Prabhat Lodha.

In FY26 the company added 12 projects with a gross development value of about Rs 60,000 crore across the Mumbai Metropolitan Region, Pune, Bengaluru and the National Capital Region. In September 2025, STT Global Data Centres acquired over 24 acres of land in the Palava region of Mumbai from Lodha for about Rs 500 crore.

Year-on-year comparison

The same quarter last year, Q2 FY26, reported consolidated net profit of Rs 788.70 crore on revenue from operations of Rs 3,798.50 crore, with pre-sales of Rs 4,570 crore. Against that base, Q2 FY27 profit rose about 28%, revenue rose 17.6% and pre-sales rose 10%.