Lodha Posts Record Quarterly Pre-sales Of Rs 42.9 Bn

Macrotech Developers, popularly known as Lodha, announced its best-ever quarterly pre-sales figures, achieving Rs 42.9 billion in the July-September quarter of fiscal year 2024-25, despite seasonal disruptions.

This marks a 21 per cent year-on-year increase. Additionally, Lodha added four new projects in Pune and Bengaluru, with a combined Gross Development Value (GDV) of Rs 55 billion.

Despite facing challenges like the monsoon season and the ‘Shradhh’ period falling in September this year, Lodha’s second-quarter revenue from operations surged by 50% year-on-year to Rs  26.3 billion. The company also saw an impressive 74% increase in its adjusted EBITDA, reaching Rs  9.6 billion, while net profit nearly doubled to Rs  4.2 billion.

Lodha also completed a strategic land sale in Palava for data centre development at approximately Rs  120 million per acre, solidifying Palava as a key emerging hub for data centres. Additionally, Lodha expanded its digital infrastructure assets by acquiring 45 acres in Chennai for warehousing and industrial purposes and increased its stake in the Digital Infrastructure platform to 67 per cent.

Abhishek Lodha, MD & CEO, remarked, “Despite the seasonal challenges, we achieved a third consecutive quarter with pre-sales surpassing Rs 40 billion, demonstrating the resilience and predictability of our business model. With the festive season in full swing, we are confident in meeting our FY25 pre-sales target of Rs 175 billion.”

The company is on track with business development targets, achieving Rs 166 billion in H1 FY25, representing more than 75 per cent of its annual guidance of Rs 210 billion. The festive season and a projected easing of mortgage rates are expected to boost demand, particularly in the mid-income housing segment where Lodha holds a significant share.

Lodha’s strong financial position continues to be bolstered by disciplined debt management, with net debt standing at Rs  49 billion at the end of Q2FY25, resulting in a low debt-to-equity ratio of 0.27x. The company's exit cost of debt has decreased to 8.9 per cent, further strengthening its competitive position.