Lodha Q2: Profit Up 28% to Rs 1,013 Crore, Pre-Sales Rs 5,037 Crore
October 31, 2026 | Lodha Developers, formerly Macrotech Developers, reported a profit after tax of Rs 1,013 crore for July-September 2026, up 28% from a year earlier. Pre-sales were Rs 5,037 crore, up 10%. The board approved the results on October 30.
What are the key numbers?
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Revenue from operations: Rs 4,468 crore, up 18%; total income about Rs 4,585 crore against Rs 3,879 crore
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Profit margin: 22.1%
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First-half profit: Rs 2,386 crore, up 63%
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Net debt: Rs 5,279 crore, a net debt-to-equity ratio of 0.2 times; the exit cost of debt was steady at 7.8%
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Net worth: about Rs 24,915 crore
How is it tracking against guidance?
Lodha has guided to pre-sales of Rs 24,000 crore for FY27. Adding Q1's Rs 4,630 crore, first-half pre-sales are about Rs 9,670 crore, or roughly 40% of the target, which management says is in line with its plan (our sum). Pre-sales slightly missed HDFC Securities' forecast of about Rs 5,100 crore.
How did Q2 compare with Q1?
Profit was down about 26% from Q1's record Rs 1,373 crore, and net debt rose from Rs 4,931 crore at the end of June (our comparison), which is normal after a record quarter.
What did management say?
Managing director Abhishek Lodha said the company delivered strong operating and financial results and that profit growth was supported by 18% revenue growth. The company is pushing into Bengaluru and Delhi-NCR to diversify beyond Mumbai. Management said premium buyers tend to be less sensitive to interest rate hikes than mass-market buyers, but it is watching the Middle East conflict for ripple effects on consumer confidence and costs.
What to watch
Whether the second half delivers the remaining Rs 14,000 crore or so needed to reach the target, after the RBI's October rate hike.
FAQ
What was Lodha's Q2 FY27 profit? About Rs 1,013 crore, up 28%. What are Lodha's pre-sales? Rs 5,037 crore in Q2, up 10%.