LODHARealty

Lodha Developers Limited

Residential, Commercial Projects · ISIN INE670K01029 · BSE 543287 · NSE EQ · FV ₹10
Last price
₹1,122
+5.77%today
What this company does

Lodha Developers Limited operates in Residential, Commercial Projects, part of the Realty sector. It booked ₹4,467 cr of revenue in its latest quarter (Q2 FY27) and kept 22.7% of sales as profit. It is the 3rd largest of 9 Residential, Commercial Projects companies we track, by market value.

“The Company is primarily engaged in the business of real project, type of development, project complexities and related estate development.”
In the report:
66out of 100
Equitytale Health Score
Solid

Healthier than 66% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,198–2,932 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns73

How much profit it earns on the money it employs

Balance sheet49

How much it owes, and whether earnings cover the interest

Cash quality63

Whether reported profit actually arrives as cash

Growth & consistency90

Whether sales and profit have grown, and how steadily

Valuation34

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 23% net margin
✓ Sales up 18% vs last year
✓ Profit up 28% vs last year
✓ Promoters hold 70%
✓ No promoter shares pledged
✓ Strong 16% return on equity
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in LODHA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,122▲ +5.77%
latest close · 2026-11-04
1-year return
+88.0%
52-wk low ₹40752-wk high ₹1,345
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio27.7Average
LowAverageHigh
P/B ratio4.43High
Below bookModerateHigh
EV / EBITDA18.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity16.0%Strong
WeakFairStrong ▸15%
Return on capital20.2%Strong
WeakFairStrong
Net margin22.7%Strong
ThinDecentStrong
EBITDA margin35.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.41Comfortable
LowModerateHigh ▸1
Interest cover8.2×Strong
RiskyOkayStrong ▸5×
Current ratio1.74Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1.12 L cr
Book value
₹253
EPS
₹10.14
latest quarter
Net debt
₹9,126 cr
owes more than its cash
Enterprise value
₹1.21 L cr
EBITDA
₹6,423 cr
annualised
EBIT
₹6,092 cr
annualised
Operating margin
34.1%
Return on assets
6.5%
Earnings yield
3.61%
P/S
6.28
Sales / share
₹178.8
Tax rate
24.6%
Face value
₹10
Shares
99.9 cr
Working capital
₹24,113 cr
Current assets
₹56,664 cr
Current liabilities
₹32,551 cr
Delivery %
52.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹293–₹305, midpoint ₹299

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹4,467 cr
Other Income₹118 cr
Total Income₹4,585 cr
Cost of Materials₹2,523 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹194 cr
Finance Costs₹185 cr
Depreciation & Amortisation₹83 cr
Other Expenses₹263 cr
Total Expenses₹3,247 cr
Profit before Tax₹1,338 cr
Tax Expense₹329 cr
Share of JV / Associates₹4 cr
Net Profit₹1,014 cr
Net margin on total income22.1%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹2,523 cr55.0%
Employee benefit expense₹194 cr4.2%
Finance costs₹185 cr4.0%
Depreciation & amortisation₹83 cr1.8%
Other expenses₹263 cr5.7%
Tax expense₹329 cr7.2%
Profit for the period₹1,014 cr22.1%
Total income ₹4,585 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue4,714 cr4,997 cr4,467 cr
Total income4,841 cr5,097 cr4,585 cr
Expenses3,579 cr3,323 cr3,247 cr
Profit before tax1,262 cr1,774 cr1,338 cr
Tax256 cr403 cr329 cr
Net profit (owners' share)1,008 cr1,372 cr1,013 cr
Net margin (owners' share, on revenue)21.4%27.5%22.7%
EPS (₹)10.0913.7310.14
YoY (latest quarter): total income +18.2% · net profit +28.4%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹62,709 cr
Shareholder equity
₹25,287 cr
parent shareholders
Total debt
₹10,394 cr
Cash
₹1,268 cr
Cash flow · H1 FY27
Operating
₹1,372 cr
Investing
₹-2,411 cr
Financing
₹-396 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹709₹1.75 L cr33.8
Aditya Birla Real Estate Limited₹1,036₹1.27 L cr34.5
Lodha Developers Limitedthis company₹1,061₹1.06 L cr26.2
The Phoenix Mills Limited₹2,049₹73,277 cr56.2
Prestige Estates Projects Limited₹1,537₹66,199 cr70.1
Oberoi Realty Limited₹1,677₹60,976 cr20.0
Godrej Properties Limited₹1,670₹47,434 cr81.5
Brigade Enterprises Limited₹527₹17,189 cr22.2
Anant Raj Limited₹444₹15,967 cr25.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.38%
trailing 12 months
Dividend / share (TTM)
₹4.25
Last dividend
₹4.25
ex 7 Aug 2026
ActionDetailEx-date
Dividend₹4.25 / share7 Aug 2026
Dividend₹4.25 / share22 Aug 2025
Dividend₹2.25 / share16 Aug 2024
Dividend₹1 / share8 Sep 2023
Bonus issue1:131 May 2023
Who owns it · 2026-09-30
No pledge
Promoter
70.3%
FII / Foreign
25.3%
DII / Domestic
2.5%
Retail / others
1.8%
Promoter stake down 2.4% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSambhavnath Trust · Promoters1.31 cr · ₹1344.9 cr12 Dec 22
SoldHOMECRAFT DEVELOPERS AND FARMS PRIVATE LIMITED · Promoter Group85.89 L · ₹881.2 cr12 Dec 22
SoldHIGHTOWN CONSTRUCTIONS PRIVATE LIMITED · Promoter Group1.29 cr · ₹1318.9 cr12 Dec 22
Bulk / block deals
short— · NSE62527 Oct 26
short— · NSE44812 Oct 26
short— · NSE65 Oct 26
Stake changes
BoughtLodha Philanthropy Foundation · promoter→ 72.11%5 Nov 24
SoldSambhavnath Infrabuild and farms Pvt Ltd · promoter→ 8.87% · 18.00 cr5 Nov 24
BoughtLodha Philanthropy Foundation · promoter→ 18.09% · 18.00 cr5 Nov 24
Promoter pledges
PledgedVistra ITCL (India) Limited Debenture trustee and Security Trustee2.10 cr · 0.00% held25 Jun 21
PledgedVistra ITCL (India) Limited Debenture trustee and Security Trustee10.96 cr · 0.00% held25 Jun 21
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Court Convened Meeting · 9 Oct 2026
See the official result
1
Approve Scheme of Merger by Absorption of Roselabs Finance Limited ('First Transferor Company') and National Standard (India) Limited ('Second Transferor Company') with Lodha Developers Limited ('Transferee Company') and their respective shareholders and creditors
Backed by 100% of shareholders other than promotersneeded 75%
24.01 cr votes for, 4.31 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 7 named members
owning 70.3% between them · as of 2026-09-30
Sambhavnath Trust (through its trustees Abhishek Lodha and Vinti Lodha)23.07%
Lodha Philanthropy Foundation18.01%
Hightown Constructions Private Limited17.62%
Sambhavnath Infrabuild and Farms Private Limited9.27%
Homecraft Developers and Farms Private Limited2.24%
Ayraah Abhishek Lodha0.04%
Bellissimo Properties Development Private Limited0.04%
Business done with them
FY2026 · 4 of the group
The company paid ₹256 cr to companies in the promoter group last year — about 1.5% of its ₹16,676 cr revenue.
HIGHTOWN CONSTRUCTIONS PRIVATE LIMITED
Other payments to them · Dividend Paid
also owns 17.62% of the company
₹82 cr
company paid
LODHA PHILANTHROPY FOUNDATION
Other payments to them · Dividend Paid
also owns 18.01% of the company
₹77 cr
company paid
SAMBHAVNATH INFRABUILD AND FARMS PRIVATE LIMITED
Bought goods from them · Dividend Paid, Purchase of Trading and Building Materials
also owns 9.27% of the company
₹50 cr
company paid
SAMBHAVNATH INFRABUILD AND FARMS PRIVATE LIMITED
Other payments to them · Dividend Paid, Purchase of Trading and Building Materials
also owns 9.27% of the company
₹38 cr
company paid
HOMECRAFT DEVELOPERS AND FARMS PRIVATE LIMITED
Other payments to them · Dividend Paid
also owns 2.24% of the company
₹11 cr
company paid

The company also transacted with 23 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.