Lodha Developers Limited — Investor Meet, 04-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Lodha Developers' Q2 FY26 presales hit INR 4,570 Cr (+7% YoY), with H1 reaching INR 9,000 Cr, tracking 43% of the INR 21,000 Cr full-year target. Revenue surged 45% to INR 3,800 Cr, while PAT jumped 87% to nearly INR 800 Cr, boasting a 32% embedded EBITDA margin. H1 business development already met the INR 25,000 Cr full-year guidance. Net debt is healthy at INR 5,370 Cr.

The company sees significant value from Palava's data center park, with land values now at INR 30 Cr/acre and potential for ~INR 10 Cr PAT per megawatt from powered shells. Improved connectivity will transform Palava and Upper Thane townships. Expansion in Pune and Bangalore is strong, with an NCR pilot planned. Management views the real estate cycle as early in a multi-decade growth phase.