Lodha Developers Limited (LODHA)

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Lodha Developers Limited (LODHA) · mywealthgrid

About

Lodha Developers Limited is a leading residential and commercial real estate developer with ₹1.24 lakh crore market capitalization. Quarterly revenues of ₹3,000–5,000 crore with 29.51% average operating margins demonstrate strong project execution and consistent profitability.

Face value: ₹10

Market cap

₹1,10,460 Cr

P/E

26.8×

P/B

4.7×

Dividend yield

0.8%

ROE

15.8%

ROCE

20.1%

Debt / equity

0.42

OPM

29.5%

EPS (TTM)

₹41.3

Book value

₹233.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Volatile operating margins: OPM ranges 20.71%–38.47%, suggesting project-mix or execution variability limiting earnings predictability
Valuation risk: PE 30.12 is elevated; verify if current pricing reflects sustainable growth or contains execution risk premium
Realty-cycle exposure: Real estate demand is sensitive to interest rates and economic cycles—verify current sales velocity and order book trends
Execution and delivery risk: Large project portfolios face construction delays and cost pressures—verify recent project completions and timeline adherence

Generated analysis · source review pending

Growth drivers

Operating margins averaging 29.51% (range 20.71%–38.47%) reflect strong project economics—verify if sustained across upcoming launches
Recent profitability acceleration: Jun 2026 quarter's ₹1,373 crore net profit is highest in dataset—verify if one-off project completion or sustained growth
Conservative balance sheet: D/E 0.42 provides capacity for expansion—verify capital allocation toward new launches versus shareholder returns
ROE 15.77% supports reinvestment—verify earnings retention rate and how capital is being deployed for growth

Generated analysis · source review pending

1,346 historical price candles were omitted because the exchange source has not been verified.

₹1,105.6-0.1%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 29.5%
+Profit CAGR of 143.4% over the last 5 years
+Revenue CAGR of 25.1% over the last 5 years
+High promoter holding of 70.3% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

69/100

Business quality: 60
Growth: 96
Valuation: 52

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12,443	5,449	9,233	9,470	10,316	13,780	16,676
COGS	—	3,604	6,063	6,064	6,203	8,250	9,796
Gross profit	—	1,845	3,171	3,406	4,113	5,530	6,880
	—	473	1,045	1,345	1,451	1,543	1,950
	—	1,372	2,126	2,061	2,663	3,987	4,930
OPM %	—	25.2%	23%	21.8%	25.8%	28.9%	29.6%
Depreciation	—	73	75	93	204	272	345
Interest	730	1,126	680	479	480	550	657
	119	-140	346	-1,037	49	390	443
Profit before tax	1,003	33	1,717	452	2,028	3,556	4,371
Tax	262	-15	508	-37	473	789	941
Tax %	26.1%	-44.4%	29.6%	-8.2%	23.4%	22.2%	21.5%
	742	48	1,209	489	1,554	2,767	3,431
PAT margin %	6%	0.9%	13.1%	5.2%	15.1%	20.1%	20.6%
EPS (₹)	18.4	1	26.3	10.1	16	27.8	34.3
EPS adjusted (₹)	—	0.5	12.5	5.1	15.6	27.7	34.3
	0%	0%	0%	9.9%	14%	15.3%	12.4%
Annual report	—	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	396	482	482	995	998	999
Reserves	—	11,624	12,181	16,475	19,180	22,287
Minority interest	—	57	60	65	67	143
	—	11,537	9,049	7,680	7,080	9,884
	—	14,780	17,384	22,011	22,515	25,624
Total equity & liabilities	—	38,479	39,155	47,225	49,841	58,937
	1,123	1,658	1,674	1,026	970	1,189
CWIP	—	—	—	0	0	256
Investments	—	839	400	2,647	1,652	2,650
	—	35,982	37,081	43,553	47,219	54,842
Total assets	—	38,479	39,155	47,225	49,841	58,937

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	33.9%	34.3%	36%	39.9%	40.1%	41.3%
EBITDA margin %	—	25.2%	23%	21.8%	25.9%	28.9%	29.5%
EBIT margin %	—	23.8%	22.2%	20.8%	24%	27%	27.4%
PAT margin %	6%	0.9%	13.1%	5.2%	15.1%	20.1%	20.6%
Working capital
Receivable days	—	—	26	28	28	21	32
Inventory days	—	—	1,647	1,813	2,000	1,614	1,500
Payable days	—	—	83	118	149	130	127
NWC days	—	—	1,589	1,723	1,880	1,504	1,405
Leverage
Current ratio	—	—	1.47	1.5	1.62	1.69	1.75
Debt to EBITDA	—	—	5.43	4.38	2.87	1.78	2.01
Debt to equity	—	—	0.95	0.71	0.44	0.35	0.42
Interest coverage	0.2	1.4	3.5	4.4	5.5	7.5	7.6
Asset turnover	—	—	0.24	0.24	0.22	0.28	0.28
Return ratios
Return on assets %	—	—	3.1%	1.2%	3.3%	5.6%	5.8%
Return on capital employed %	—	—	15.5%	13.8%	15%	19.6%	20.1%
Return on equity %	—	—	10%	3.9%	8.9%	13.7%	14.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.93%	74.92%	72.16%	72.13%	72.11%	71.98%	71.94%	71.9%	71.87%	71.85%	72.27%	70.31%
	20.52%	21.09%	23.79%	24.18%	24.2%	24.45%	24.65%	24.89%	24.11%	23.49%	21.25%	23.65%
	3.62%	3.2%	3.32%	2.97%	2.78%	2.64%	2.36%	2.2%	2.73%	3.17%	4.62%	3.57%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.93%	0.79%	0.73%	0.72%	0.91%	0.93%	1.05%	1.01%	1.29%	1.49%	1.86%	2.47%
No. of shareholders	—	—	—	—	—	—	—	—	1,18,870	1,35,294	1,47,462	1,58,746

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,135.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,130.4	+20.6	+1.9%	₹1,130.4	10,808	-1,710	3,938	625
23 Nov 2026	₹1,124.7	+13.4	+1.2%	₹1,124.7	320	+12	66	625
29 Dec 2026	₹1,123.1	0	0%	₹1,152.9	0	0	0	625

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

0.51%

of the company's equity

All mutual funds

1.88%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

53 schemes · 14 fund houses

		Shares
Nifty Next 50 Index Fund	ICICI Prudential Mutual Fund	11.04 L	132.37	1.31%	0.111%	+17,625
ETF NIFTY NEXT 50 JUNIOR BEES	Nippon India Mutual Fund	9.79 L	117.36	1.31%	0.098%	+31,579
Quant Fund	SBI Mutual Fund	5.66 L	67.84	2.32%	0.057%	-44,282
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	3.38 L	40.56	14.85%	0.034%	+14,024
Nifty Next 50 ETF	SBI Mutual Fund	3.34 L	40.03	1.31%	0.033%	+757
Quant Fund	Axis Mutual Fund	2.98 L	35.72	4.32%	0.03%	-0
Nifty Next 50 ETF	ICICI Prudential Mutual Fund	2.97 L	35.6	1.31%	0.03%	+1,464
Nifty Next 50 Index Fund	SBI Mutual Fund	2.59 L	31.03	1.31%	0.026%	+10,424

1–8 of 53

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
Apr 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend7 Aug 2026 · ex-date₹4.25
Final dividend22 Aug 2025 · ex-date₹4.25
Final dividend16 Aug 2024 · ex-date₹2.25
Dividend dividend8 Sept 2023 · ex-date₹1

1

Board meeting to consider results24 Jul 2026

1

Bonus 1:131 May 2023 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

30 announcementsExport CSV

28 Sept 2026, 3:32 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	33.9%	34.3%	36%	39.9%	40.1%	41.3%
EBITDA margin %	—	25.2%	23%	21.8%	25.9%	28.9%	29.5%
EBIT margin %	—	23.8%	22.2%	20.8%	24%	27%	27.4%
PAT margin %	6%	0.9%	13.1%	5.2%	15.1%	20.1%	20.6%
Working capital
Receivable days	—	—	26	28	28	21	32
Inventory days	—	—	1,647	1,813	2,000	1,614	1,500
Payable days	—	—	83	118	149	130	127
NWC days	—	—	1,589	1,723	1,880	1,504	1,405
Leverage
Current ratio	—	—	1.47	1.5	1.62	1.69	1.75
Debt to EBITDA	—	—	5.43	4.38	2.87	1.78	2.01
Debt to equity	—	—	0.95	0.71	0.44	0.35	0.42
Interest coverage	0.2	1.4	3.5	4.4	5.5	7.5	7.6
Asset turnover	—	—	0.24	0.24	0.22	0.28	0.28
Return ratios
Return on assets %	—	—	3.1%	1.2%	3.3%	5.6%	5.8%
Return on capital employed %	—	—	15.5%	13.8%	15%	19.6%	20.1%
Return on equity %	—	—	10%	3.9%	8.9%	13.7%	14.7%

26 deals · 4 Aug 2022 – 25 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Jun 2026	HIGHTOWN CONSTRUCTIONS PRIVATE LIMITED	Bulk	NSE	Sell	1,74,24,032	₹937.85	₹1,634.11 Cr
25 Jun 2026	HIGHTOWN CONSTRUCTIONS PRIVATE LIMITED	Block	NSE	Sell	1,74,24,032	₹937.85	₹1,634.11 Cr
25 Jun 2026	FMRC FIDELITY ADVISOR INTERNATIONAL CAPITAL APPRECIATION FUND	Bulk	NSE	Buy	1,32,64,600	₹937.85	₹1,244.02 Cr
25 Jun 2026	FMRC FIDELITY ADVISOR INTERNATIONAL CAPITAL APPRECIATION FUND	Block	NSE	Buy	1,32,64,600	₹937.85	₹1,244.02 Cr
25 Jun 2026	FRST II STRAT ADV FIDE INTERL FUND	Block	NSE	Buy	28,57,100	₹937.85	₹267.95 Cr
25 Jun 2026	HOMECRAFT DEVELOPERS AND FARMS PRIVATE LIMITED	Block	NSE	Sell	24,57,264	₹937.85	₹230.45 Cr
25 Jun 2026	FIDELITY INVESTMENT TRUST FIDELITY INTERNATIONAL CAPITAL APPRECIATION K6 FD	Block	NSE	Buy	17,10,100	₹937.85	₹160.38 Cr
25 Jun 2026	FIDELITY INSTITUTIONAL AM INTERNATIONAL CORE CIT	Block	NSE	Buy	8,94,596	₹937.85	₹83.90 Cr
25 Jun 2026	VIP INTL CAP APP PORT	Block	NSE	Buy	7,20,200	₹937.85	₹67.54 Cr
25 Jun 2026	SUNAMERICA SERIES TRUST SA FIDELITY INSTITUTIONAL AM INTL GROWTH PORTFOLIO	Block	NSE	Buy	1,78,300	₹937.85	₹16.72 Cr

1–10 of 26

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

24

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	940	₹2.9	60	+19	22
0	0	0	₹0.0	960	₹3.7	12	+11	11
0	0	0	₹0.0	980	₹4.9	53	+9	20
9	-1	5	₹121.4	1,000	₹6.2	462	-8	192
1	0	0	₹171.0	1,020	₹8.4	308	-26	80
0	0	0	₹0.0	1,040	₹11.2	227	-8	115
0	0	0	₹0.0	1,060	₹15.2	297	+57	108
37	+32	72	₹72.0	1,080	₹20.6	193	+41	76

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
28 Sept 2026, 3:32 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 2:42 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
9 Sept 2026, 4:42 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
7 Sept 2026, 2:56 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
4 Sept 2026, 11:30 pm	AGM/EGM Court Convened Meeting	NCLT Convened Meeting Of Secured Creditors	PDF
4 Sept 2026, 11:21 pm	AGM/EGM Court Convened Meeting	NCLT Convened Meeting Of Equity Shareholders	PDF
31 Aug 2026, 10:07 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition	PDF
31 Aug 2026, 7:58 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,000	2,524	1,998	2,750	2,512	1,566	959
	-147	420	1,139	1,778	-2,947	-90	-780
	-1,985	-2,835	-2,888	-3,705	951	-2,506	1,589
Net cash flow	-131	109	250	822	516	-1,031	1,768
Free cash flow	1,978	2,522	1,958	2,660	2,343	1,091	709
CFO / Operating profit %	—	184%	94.1%	133.1%	93.9%	39.3%	19.5%

Lodha Developers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

4

1

1

Announcements

4

1

1

3

24

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Lodha Developers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends4

Board meetings1

Bonus issues1

Announcements

Dividends4

Board meetings1

Bonus issues1

Ratio timeline

Quarterly record

Futures3

Bulk & block deals

Board and management

Option chain24

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

4

1

1

4

1

1

3

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