Realty developer Lodha Developers has reported a year-on-year increase of 7% in pre-sales, totaling Rs 4,570 crore for the quarter ending in September. The company’s collections also saw a 13% growth year-on-year, reaching Rs 3,480 crore.
For the first half of the financial year, Lodha’s pre-sales amounted to Rs 9,020 crore, indicating an 8% rise compared to last year. Meanwhile, collections for this period increased by 10%, totaling Rs 6,360 crore, as stated in a regulatory filing.
During this quarter, the developer launched a new project in the Mumbai Metropolitan Region with a gross development value (GDV) of Rs 2,300 crore. This brings Lodha closer to its annual target of Rs 25,000 crore, suggesting a solid project pipeline.
According to the company, several launches are planned for the second half of the year, and they are on track to meet their pre-sales guidance of Rs 21,000 crore for the fiscal year 2025-26.
Despite substantial investments in business development during the first half of the financial year, the company’s net debt remains at Rs 5,370 crore, which is below its stated ceiling of 0.5 times net debt-equity.
