Lodha Developers (LODHA) investor relations material

Executive summary

• Q1 FY27 delivered record consolidated revenue of INR 50 billion, up 43% YoY, with adjusted EBITDA of INR 21.5 billion (+79%) and PAT of INR 13.7 billion, more than doubling YoY at a 26.9% margin, representing 33% of full-year guidance.

• Residential pre-sales reached INR 46.3 billion, up 4% YoY, despite launch postponements due to Middle East conflict, and collections were INR 42.1 billion (+46% YoY).

• Net debt reduced by INR 4.5 billion to INR 49.3 billion, with net debt/equity at 0.2x, and net worth just under INR 250 billion.

• Continued focus on brand, ESG leadership, and operational excellence, including the launch of India's first privately funded theoretical physics institute.

• Unaudited consolidated and standalone financial results for Q1 FY27 were approved by the Board and reviewed by statutory auditors, who issued unmodified conclusions.

Financial highlights

• Consolidated revenue for Q1 FY27 was INR 50 billion, a 43% increase YoY.

• Adjusted EBITDA rose 79% YoY to INR 21.5 billion, with margin expanding to 43% from 34.4% YoY.

• PAT more than doubled YoY to INR 13.7 billion, with PAT margin at 26.9%.

• Collections reached INR 42.1 billion (+46% YoY), and operating cash flow was INR 18.9 billion.

• Net debt reduced to INR 49.3 billion; average cost of debt stable at 7.8%.

Outlook and guidance

• Annual PAT growth guidance of 20% (targeting INR 41 billion for FY27), with Q1 already delivering 33% of this.

• Pre-sales guidance reaffirmed at INR 240 billion for FY27, with 40%-42% expected in H1.

• Launch calendar includes 20+ projects/phases totaling INR 250 billion GDV, with new launches in NCR, Bangalore, and Pune.

• DevCo aims to be net debt-free in 2-3 years; medium-term PAT target of INR 85 billion by FY31.

• Company continues to operate in the Indian real estate development segment.