Conference Call with Lodha Developers Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
Realty company Lodha Developers announced Q1FY26 results Q1FY26 PAT increases +42% to Rs 6.8 billion from Rs 4.8 billion in Q1FY25 Q1FY26 PAT margin expands to 18.6% from 16.3% in Q1FY25 Pre-sales: Rs 44.5 billion (+10% YoY) Collections: Rs 28.8 billion (+7% YoY) Revenues from Ops: Rs 34.9 billion (+23% YoY) Adj. EBITDA: Rs 12.0 billion (+25% YoY) Addition of 5 new projects with GDV of Rs 227 billion in Q1FY26 Robust Adj. EBITDA margin at 34.4% Commenting on the performance, Abhishek Lodha, MD & CEO, Lodha Developers said, “It is heartening to note that Q1FY26 has turned out to be our best ever 1st Quarter Pre-sales Performance at Rs 44.5 billion, clocking a 10% YoY growth. This performance would’ve been even superior had our sales not been impacted during the two weeks of uncertainty due to the India- Pakistan war. Structural industry tailwinds on the back of low home-ownership levels, rising household incomes, strong affordability, low mortgage rates, combined with ever-increasing customers’ desire to own quality homes from branded developers like Lodha forms the cornerstone of our business strategy to deliver 20% topline growth on a sustainable basis for the foreseeable future. On the back of interest rate cuts and the benefit from income tax cuts, we are seeing pick up in mid-income demand and we expect this to strengthen in H2 of this FY. We are pleased to share that we have achieved more than 90% of our FY26 business development guidance in the first quarter itself. We added five projects at marquee locations in MMR, Pune and Bengaluru with Rs 227 billion of GDV potential. This takes the total GDV addition since our IPO to more than Rs 1 tn, spread across 48 projects, which is a testament of the ‘Lodha’ brand attractiveness to land owners and the successful on-ground implementation of our ‘super market’ strategy for land acquisition in each micro-market. Such strong Business Development provides the opportunity and visibility for a consistent, granular and predictable growth over the long term. Despite the significant investments in business development in this quarter, our net debt stands at Rs 50.8 billion (0.24x Net Debt/ Equity) - well below our ceiling of 0.5x Net Debt/Equity. Our exit cost of debt for Q1FY26 stands at 8.3% (down 40 bps for the quarter)- among the lowest in the industry. Our Profit After Tax for Q1 stands at Rs 6.8 billion (+42% YoY growth) on the back of 23% revenue growth, coupled with significant operating and financial leverage.” Result PDF