Lodha, India’s leading real estate developer, announced its financial results for the quarter ended Sep 30, 2025. Company reported its best ever Q2 pre-sales performance with robust Embedded EBITDA margin.
Commenting on the performance, Mr. Abhishek Lodha, MD & CEO, Lodha Developers Ltd. said “We are pleased to deliver our best ever Q2 performance with pre-sales of INR 45.7 Bn, up 7% YoY. We find strong market momentum with continuing strength in walk-ins and conversions. Our non-launch weekly sales are now approaching INR 3 bn per week, showcasing the strength of our well-diversified spread of projects.
With significant launches planned in H2, following the resolution of the Environmental Clearance process by the Hon’ble Supreme Court in August, we are on track to deliver our full year pre-sales guidance of INR 210 bn. This quarter also witnessed our signing of MOU with the Govt. of Maharashtra to setup Green Data Centre Park at Palava.
The Park already has 2 anchor operators – AWS (Amazon Web Services) and STT (a Temasek company). On the back of the significant incentives provided by the state government, combined with the encouraging draft policy from the Centre, we expect Palava to emerge as one of the most advanced Data Centre Hubs in the country with scalability to 3 GW and even beyond. We believe that India’s AI journey is just getting started and the Palava Data Centre Park will play a key role in this, and also unlock very significant value for our company.
We are pleased to note that Newsweek has recognized us in their list of the ‘World’s Most Trustworthy Companies’. Lodha is the only real estate company from India on this list, demonstrating the company’s commitment to our stakeholders and society at large.
Low homeownership levels, rising household incomes, low mortgage rates and improving affordability have created an unprecedented opportunity for organized branded developers like us. At Lodha, we see these trends not just as favourable market dynamics, but as the foundation of our long-term strategy. Our focus on design excellence, superior execution, and customer-centricity positions us to capture this demand and deliver sustainable top line growth of 20% year after year. Backed by these structural drivers and our deep understanding of consumer aspirations, Lodha remains well positioned to lead India’s next phase of homeownership growth—bringing world-class living to more families, and creating enduring value for all our stakeholders.
We are pleased that the government has given more disposable income in the hands of the Indian consumer through the recent GST changes. The cut in interest rates is also encouraging. We continue to invest in long-term growth due to our belief in India’s economy and the long-term nature of its real estate upcycle. In Q2FY26, we added one location in MMR with a GDV of INR 23 Bn, in addition to the 5 locations with a GDV of INR 227 Bn that we had already added in Q1FY26. This means that we have thus met the full year guidance of INR 250 Bn in first half of the year itself and are now gearing up for a significant outperformance on this front, which will lay the foundation of predictable and consistent growth for years to come. ~ LODHA
Despite the significant investments in business development in the 1st half, our net debt stands at INR 53.7 bn (0.25x Net Debt/ Equity) – well below our ceiling of 0.5x Net Debt/Equity. Our exit cost of debt for Q2FY26 stands at 8.0% (down 30 bps for the quarter)- among the lowest in the industry.
Our Profit After Tax for Q2 stands at INR 7.9 bn (+87% YoY growth) on the back of 45% revenue growth, coupled with significant operating and financial leverage.”
Our commitment to nation building has seen a significant milestone during the quarter with the launch of Lodha Mathematical Sciences institute in August 2025, under the leadership of Dr. Kumar Murty (Former Director, Fields Institute). The institute seeks to advance India’s legacy of analytical thought through cutting -edge research across all areas of mathematics and its applications. The institute will pursue both foundational inquiry and real-world solutions to 21st century challenges. First thematic program, led by Dr. Manjul Bhargava (Fields Medalist, Padma Bhushan), is currently underway with participation from 50+ leading mathematicians from around the world.
Under our Lodha Genius Programme, we have tied up with IISER Pune for a multi-program partnership (Lodha Genius Summer Program, weekend math circles, etc.), with first initiatives launching soon. Over the next two years, the program will be extended for students till grade 12. A similar tie up with Ashoka university attracted about 7,000 applicants this year, of which 300 students were chosen to participate in this world-class academic and development summer experience.
We published a report on the decarbonization pathway for rebar steel in collaboration with RMI, which was released by BMTPC on World Habitat Day, another important milestone in our journey to become Net-Zero by 2050.
