MarketFriction

Lodha Developers Ltd

NSE LODHA · BSE 543287 · Residential, Commercial Projects
₹1,105.60 -2.59%
NSE close2026-10-01
52 week range650.80 - 1,344.95
Market cap₹1,10,592 Cr.
P/E26.8
IPO 2021 · +355% since Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty Realty No price band Delivery 54.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,7502,9314,0182,8462,6264,0834,2243,4923,7984,6724,7144,997
Expenses1,3382,0552,9722,0901,9222,7773,0042,5082,6903,2573,3013,074
Operating Profit4128761,0467567041,3061,2209841,1081,4151,4131,922
OPM %24%30%26%27%27%32%29%28%29%30%30%38%
Other Income6-776572596419613380110129102
Interest123117116117136144152148156185167179
Depreciation29331176066677866719811169
Profit before tax2656498786515601,1581,1869049611,2431,2641,776
Tax %24%22%24%27%24%18%22%25%18%23%20%23%
Net Profit2035056674764239459236757909581,0081,373
EPS in Rs2.095.226.694.784.259.479.246.767.909.5810.0913.73
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,2497,9269,67711,90712,4435,4499,2339,47010,31613,78016,67618,181
Expenses6,1236,3137,9958,72810,5264,0667,0477,4067,6519,79111,75312,323
Operating Profit2,1261,6141,6823,1791,9171,3832,1862,0642,6653,9894,9235,858
OPM %26%20%17%27%15%25%24%22%26%29%30%32%
Other Income51058428572119-140293-1,03748390452422
Interest9887363905687401,136688482482552659688
Depreciation450460395194292737593204272345349
Profit before tax1,1981,0011,1822,4891,003331,7164522,0283,5564,3715,244
Tax %41%42%33%34%26%-44%30%-8%23%22%22%
Net Profit7035847941,644742481,2084901,5542,7673,4314,129
EPS in Rs16.2512.9110.0320.669.190.5112.495.0515.5827.7134.3241.30
Dividend Payout %0%0%0%0%0%0%0%20%14%15%12%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%25%21%26%
Compounded Profit Growth17%58%56%39%
Stock Price CAGR%16%11%-3%
Return on Equity14%13%14%15%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital108108113396396396396482482994998999
Reserves3,1863,8653,9204,7563,4454,1564,20311,62412,18116,47519,18022,287
Borrowings11,85213,83516,18322,61625,64118,42318,19311,5379,0607,6987,0949,896
Other Liabilities12,75213,17313,71512,48320,38217,71716,51614,76317,39922,03122,32525,497
Total Liabilities27,89830,98133,93140,25149,86440,69339,30838,40439,12247,19849,59758,680
Fixed Assets2,2901,8991,7532,1972,1392,0211,9461,9231,8281,1691,3682,641
CWIP41761096666004410
Investments5956111,1801,3841,4051,5531,5795742462,5001,2501,454
Other Assets25,00828,29530,88836,66446,31437,11235,77635,90837,04843,52446,97654,575
Total Assets27,89830,98133,93140,25149,86440,69339,30838,40439,12247,19849,59758,680
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3871,469696-4633,7722,5241,9982,7502,5121,566959
Cash from Investing Activity-854-1,174-651-1751824201,1391,789-2,94747-780
Cash from Financing Activity330-31224736-4,188-2,835-2,888-3,706951-2,5061,589
Net Cash Flow-137-166997-234109250834516-8931,769
Free Cash Flow2891,405654-5623,7432,5301,9652,6742,3461,091709
CFO/OP34%119%75%-5%201%176%100%143%95%55%39%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days633028291523442628282132
Inventory Days
Days Payable
Cash Conversion Cycle633028291523442628282132
Working Capital Days655590-166-262-0-31114360387442441420
ROCE %13%9%7%11%6%7%10%9%11%15%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.93%74.92%72.16%72.13%72.11%71.98%71.94%71.90%71.87%71.85%72.27%70.31%
FIIs20.52%21.09%23.79%24.18%24.20%24.45%24.64%24.89%24.11%23.49%21.24%23.65%
DIIs3.50%3.21%3.32%2.96%2.78%2.63%2.36%2.19%2.73%3.17%4.62%3.56%
Public1.05%0.78%0.73%0.72%0.91%0.92%1.04%1.00%1.28%1.48%1.85%2.46%
No. of Shareholders52,59052,80560,81267,69992,93394,6231,04,51299,2671,18,8701,35,2941,47,4621,58,746

Fundamentals

Market Cap₹ 1,10,592 Cr.
Current Price₹ 1,107
Stock P/E26.8
Book Value₹ 233
ROCE16.4 %
ROE15.5 %
Dividend Yield0.38 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)26%
Compounded Profit Growth (TTM)39%
Consolidated figures.
Valuation
Market capRs 110,440 Cr
Enterprise valueRs 116,750 Cr
P/E (TTM)26.77x
Price to book4.74x
Price to sales6.07x
EV / EBITDA18.59x
EV / EBIT19.68x
EV / sales6.42x
Price to cash flow115.13x
Earnings yield3.74%
Dividend yield0.38%
P/E, 3-year average45.27x
P/B, 3-year average5.09x
P/E, 5-year average40.88x
P/B, 5-year average3.86x
Profitability
Operating margin (excl. other income)29.52%
Operating margin (incl. other income)32.23%
EBITDA margin34.54%
Pre-tax margin28.84%
Net profit margin22.69%
Net margin, latest quarter27.46%
ROE15.77%
ROCE16.64%
ROA6.33%
ROE, 3-year average13.58%
ROCE, 3-year average14.34%
ROA, 3-year average5.21%
ROE, 5-year average11.81%
ROCE, 5-year average11.50%
ROA, 5-year average4.00%
ROIC (approx.)15.73%
Tax rate21.52%
Other income / net worth1.94%
Growth
Sales growth (latest year)21.02%
Profit growth (latest year)24.02%
Sales CAGR, 3 years20.76%
Sales CAGR, 5 years25.07%
Profit CAGR, 3 years91.69%
Profit CAGR, 5 years143.36%
Sales growth QoQ6.01%
Profit growth QoQ36.13%
Sales growth YoY (latest quarter)43.10%
Profit growth YoY (latest quarter)103.36%
Per share
EPS (TTM)Rs 41.30
EPS (latest year)Rs 34.32
EPS (latest quarter)Rs 13.74
EPS, 3-year averageRs 25.87
EPS, 5-year averageRs 22.54
Book value per shareRs 233.11
Sales per shareRs 182.01
Cash flow per shareRs 9.60
Free cash flow per shareRs 7.10
Dividend per share (latest year)Rs 4.25
Dividend per share, 3-year averageRs 3.58
Dividend per share, 5-year averageRs 3.19
Dividends
Dividend payout12.38%
Dividend payout, 3-year average14.06%
Dividend payout, 5-year average15.49%
Efficiency
Asset turnover0.28x
Fixed asset turnover6.31x
Inventory turnover0.25x
Inventory days1444 days
Debtor days32 days
Debtors turnover11.33x
Cash conversion cycle32 days
Working capital days420 days
Leverage
Total debtRs 9,896 Cr
Cash and bankRs 3,586 Cr
Net debtRs 6,310 Cr
Debt to equity0.42x
Net debt / EBITDA1.00x
Interest coverage8.62x
Current ratio (filing 2026-03-31)1.75x
Quick ratio (filing 2026-03-31)0.46x
Trade payables (filing 2026-03-31)Rs 3,403 Cr
Owners' fund to total sources39.68%
Debt to assets16.86%
Cash flow
Cash from Operating Activity (latest year)Rs 959 Cr
Cash from Investing Activity (latest year)Rs -780 Cr
Cash from Financing Activity (latest year)Rs 1,589 Cr
Net Cash Flow (latest year)Rs 1,769 Cr
Free cash flow (latest year)Rs 709 Cr
FCFE (approx.: FCF + change in debt)Rs 3,511 Cr
Cash from ops / profit, 5 years1.04x
Sales to cash flow17.38x
Statement figures
Net sales (TTM)Rs 18,181 Cr
Net sales (latest year)Rs 16,676 Cr
Sales (latest quarter)Rs 4,997 Cr
Operating profit excl. other income (latest year)Rs 4,923 Cr
Operating profit (latest quarter)Rs 1,922 Cr
Other income (TTM)Rs 422 Cr
EBITDA (TTM)Rs 6,280 Cr
PBDT (TTM)Rs 5,592 Cr
Profit before tax (TTM)Rs 5,244 Cr
Tax (latest year)Rs 941 Cr
Net profit (TTM)Rs 4,126 Cr
Net profit (latest year)Rs 3,428 Cr
Net profit (latest quarter)Rs 1,372 Cr
Depreciation (TTM)Rs 349 Cr
Depreciation (latest quarter)Rs 69 Cr
Interest (TTM)Rs 688 Cr
Cost of goods sold (latest year)Rs 10,178 Cr
Total expenditure (latest year)Rs 11,753 Cr
Total income (latest year)Rs 17,129 Cr
Share capitalRs 999 Cr
ReservesRs 22,287 Cr
Shareholders' fundsRs 23,286 Cr
Total assetsRs 58,680 Cr
Net blockRs 2,641 Cr
Capital work in progressRs 10 Cr
InvestmentsRs 1,454 Cr
ReceivablesRs 1,472 Cr
InventoryRs 40,254 Cr
Other liabilitiesRs 25,497 Cr
Shares outstanding (crore)99.89
Ownership
Promoter holding70.31% (-1.59 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 26.8 is at the 2th percentile of its own 4.6-year range (median 45.3, low 20.2, high 282.8).
P/B 4.74 is at the 24th percentile (median 6.47).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodLODHANifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-7.4%-6.8% -0.6 pts
3 months+4.6%-7.6% +12.2 pts
6 months+63.3%+0.4% +62.9 pts
1 year-3.8%-9.9% +6.1 pts
2 years-22.4%-13.6% -8.8 pts
3 years+38.2%+14.2% +24.0 pts
5 years+109.6%+27.9% +81.7 pts
118 mutual fund schemes hold about ₹847 Cr. Over three months 77 bought more and 31 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Mirae Asset Large Cap Fund0.41%158 -53%
ICICI Pru Nifty Next 50 Index Fund1.31%132 +16%
UTI Nifty Next 50 Index Fund1.31%99 +16%
SBI Quant Fund2.32%68 +100%
HDFC Large & Mid Cap Fund0.12%36 +16%
HDFC NIFTY Next 50 Index Fund1.31%35 +16%
SBI Nifty Next 50 Index Fund1.31%31 +16%
Axis Quant Fund3.36%28 -6%
HDFC NIFTY Realty Index Fund14.82%21 +10%
DSP NIFTY Next 50 Index Fund1.31%18 +16%
Navi Nifty Next 50 Index Fund1.31%17 +16%
Kotak Nifty Next 50 Index Fund1.31%16 +16%
HDFC Housing Opp Fund1.33%16 +23%
Franklin Asian Equity Fund1.53%15 +14%
Mirae Asset Infrastructure Fund3.10%15 +10%
Sundaram Multi-Factor Fund1.34%12 +100%
Bandhan Large Cap Fund0.45%10 -39%
Tata Nifty Realty Index Fund14.83%10 +10%
Edelweiss Nifty REITs & Realty Index Fund6.21%9 +100%
Nippon India Nifty Realty Index Fund14.88%9 +11%
Axis Nifty Next 50 Index Fund1.31%7 +16%
Motilal Oswal Nifty Next 50 Index Fund1.31%7 +16%
HDFC NIFTY 100 Equal Weight Index Fund1.25%7 +17%
TRUSTMF Mid Cap Fund1.29%6 +100%
Motilal Oswal Nifty 500 Index Fund0.17%5 +18%

Red flags

F-score 6 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2022-12-12HIGHTOWN CONSTRUCTIONS PRIVATE LIMPromoter Groupother12,854,845Rs 1318.91 CrOthers
2022-12-12Sambhavnath TrustPromotersother13,107,718Rs 1344.85 CrOthers
2022-12-12HOMECRAFT DEVELOPERS AND FARMS PRIPromoter Groupother8,588,600Rs 881.19 CrOthers
2022-12-12Sambhavnath Infrabuild and Farms PPromotersother19,343Rs 1.98 CrOthers
2021-11-09Piyush Vora-sell1,000Rs 0.12 CrMarket Sale
2021-06-11HOMECRAFT DEVELOPERS AND FARMS PRIPromoter Groupother21,021,010Rs 1429.43 CrInter-se-Transfer
2021-06-11HIGHTOWN CONSTRUCTIONS PRIVATE LIMPromoter Groupother109,592,990Rs 7452.32 CrInter-se-Transfer
2021-06-11Sambhavnath Infrabuild and Farms PPromotersother130,614,000Rs 8881.75 CrInter-se-Transfer
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹4,997 Cr +43.1% vs Jun 2025. Net profit ₹1,373 Cr +103.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-07Dividend - Rs 4.25 Per Share
2025-08-22Dividend - Rs 4.25 Per Share
2024-08-16Dividend - Rs 2.25 Per Share
2023-09-08Dividend - Re 1 Per Share
2023-09-08Annual General Meeting
2023-05-31Bonus 1:10.5000
2022-08-02Annual General Meeting
2021-08-24 Annual General Meeting
DateTypeWhat it says
2026-09-23AllotmentAllotment of 50720 securities pursuant to ESOP/ESPS at its meeting held on September 23, 2026
2026-09-22Concall / analyst meetSchedule of meet
2026-09-09AllotmentAllotment of 111859 securities pursuant to ESOP/ESPS at its meeting held on September 09, 2026
2026-09-04Shareholder meetingNotice of Court Convened General Meeting of Secured Creditors (including Secured Debenture Holders) to be held on October 09, 2026
2026-09-04Shareholder meetingNotice of Court Convened General Meeting of Equity Shareholders to be held on October 09, 2026
2026-08-31AcquisitionAcquisition of balance stake in Bellissimo Infratech Private Limited (Formerly known as Solidrise Realty Private Limited)
2026-08-31Change in ManagementChange in Management
2026-08-21ESOPAllotment of 44715 Shares.
2026-08-14Shareholder meetingProceedings of Annual General Meeting held on August 14, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with...
2026-08-12AllotmentAllotment of 49395 securities pursuant to ESOP/ESPS at its meeting held on August 12, 2026
2026-08-07Concall / analyst meetSchedule of Analysts/Investor Meet
2026-07-30Concall / analyst meetTranscript on Unaudited Financial Results for the quarter ended June 30, 2026
2026-07-27Concall / analyst meetLink of Recording
2026-07-24Investor PresentationInvestor Presentation
2026-07-24Press ReleaseA press release on Unaudited Financial Results for the quarter ended June 30, 2026.
2026-07-24Board meeting outcomeLodha Developers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22AllotmentAllotment of 11910 securities pursuant to ESOP/ESPS at its meeting held on July 22, 2026
2026-07-20Concall / analyst meetIntimation of Conference call on Unaudited Financial Results of the Company for the quarter ended June 30, 2026
2026-07-10Shareholder meetingNotice of Annual General Meeting to be held on August 14, 2026
2026-07-09ESOPAllotment of 22798 Shares.
2026-07-04UpdatesCompany Update.
2026-07-03Rumour Verification - RegulaRumour Verification - Regulation 30(11)
2026-06-30Record DateRecord date for the purpose of Dividend is 07-Aug-2026.
2026-06-30General UpdatesAbout 31st Annual General Meeting of the Company scheduled to be held on August 14, 2026
2026-06-30AllotmentAllotment of 30000 securities pursuant to Non Convertible Securities
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.71
Max pain (expiry 2026-10-27)1,100
Largest call open interest at1,100
Largest put open interest at1,100
Implied volatility, at the money35.2%
Underlying at snapshot1,105.60
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3010,843
2026-09-2917,500
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 100perc in previous 6 months

Quick answers

What is the market cap of Lodha Developers Ltd?

Lodha Developers Ltd (LODHA) has a market capitalisation of Rs 1,10,592 Cr. at the 2026-10-01 close.

What is the P/E ratio of Lodha Developers Ltd?

Lodha Developers Ltd trades at a P/E of 26.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Lodha Developers Ltd's latest quarterly results?

In the Jun 2026 quarter, Lodha Developers Ltd sales was Rs 4,997 Cr (+43.1% vs Jun 2025) and net profit was Rs 1,373 Cr.

What is the 52-week high and low of Lodha Developers Ltd?

The 52-week high is Rs 1,344.95 and the 52-week low is Rs 650.80.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03