Sign in to fuzzto save your conversations, follow your research and come back anytime.
Lodha Developers
SectorConsumer Discretionary
Macrotech Developers Limited, formerly Lodha Developers Limited, is an Indian multinational real estate company founded in 1995 and headquartered in Mumbai. The company develops residential and commercial properties in Mumbai, Thane, Hyderabad, Pune, and London. It operates under various brands including Lodha, CASA by Lodha, and Crown - Lodha Quality Homes for different market segments. Macrotech Developers has completed over 90 projects totaling 80 million square feet and is currently developing more than 50 projects across 75 million square feet. The company is known for luxury developments like The World Towers and Lodha Altamount, as well as affordable housing projects. It also develops commercial real estate and is creating an 800-acre logistics and industrial park near Palava. Macrotech Developers went public in 2021 and is listed on the BSE and NSE. The company has expanded through acquisitions, partnerships, and investments in various projects across India and London.
In the news
NSE Index Rebalancing: Winners, Losers, and the $1.2 Billion Shuffling Game
Nifty 50 up 0.31% to 23,417; Realty sector rallies 4.85% on rate hike bets
Lodha Developers surges 40% in 3 months on $300B Maharashtra data centre boom
India's Real Estate Paradox: Rising Prices, Falling Sales
Real Estate to Data Centres: Capital Efficiency Models That Work
DLF vs Lodha: Massive FY27 Launches Worth ₹1 Trillion
Real Estate's Paradox: Strong Sales, Plateauing Markets, and the K-Shaped Consolidation
Mumbai water crisis: BMC cuts supply by 20%, tanker costs surge 30%
₹2 lakh crore data centre boom: Macrotech, Anant Raj lead expansion
Real estate, staffing firms invest in data centres amid tech boom
The Quarter story
The two most recent quarterly results, compared side-by-side.
Lodha Developers delivers strong profit growth and rising rental income, while managing debt costs effectively despite higher project funding needs.
Adj. EBITDA margin rises from 34.4% in Q1 FY26 to 43% in Q1 FY27, showing stronger pricing power
Borrowings rise from ₹78.4 Cr in Q1 FY26 to ₹102.8 Cr in Q1 FY27, signaling aggressive project funding
Annuity income grows from ₹0.4 Cr in Q1 FY26 to ₹3.0 Cr in Q1 FY27, reflecting successful rental portfolio scaling
Pune collections fall from ₹4.7 Cr in Q1 FY26 to ₹4.0 Cr in Q1 FY27, indicating regional demand softening
Operating cash flow increases from ₹9.5 Cr in Q1 FY26 to ₹18.9 Cr in Q1 FY27, ensuring steady liquidity generation
Trade receivables grow from ₹26.4 Cr in Q1 FY26 to ₹37.6 Cr in Q1 FY27, reflecting higher credit sales
Net debt to equity falls from 0.24x in Q1 FY26 to 0.20x in Q1 FY27, indicating improved leverage management
Office collections dip from ₹1.0 Cr in Q3 FY26 to ₹0.8 Cr in Q1 FY27, showing leasing cycle volatility
Company insights, generated from the most recent coverage.
Lodha's $47 Mn outflow is roughly half Indian Hotels' despite similar index demotion — the difference is market cap (~₹54,000 Cr vs ~₹1.03 lakh Cr), so exclusion pain scales with index weight, not with how badly the stock has fallen.
A 49% fall from the ₹1,800 52-week high was a multiple compression story, not an earnings collapse — once Q1 results disappointed, the market simply refused to pay above-historical multiples.
Q1 FY27 PAT doubled YoY to ₹13.7B with 43% EBITDA margins, but management guided for normalization to 32-34% in FY27 due to one-off land sales, signaling a shift from peak profitability.