Lodha Developers (Macrotech Developers) has delivered a robust operational performance for FY26, achieving record quarterly pre-sales of ₹58.9bn in Q4. Despite a slight impact from external geopolitical events in March, the company concluded the fiscal year with ₹205.3bn in total pre-sales, representing a 16% YoY growth. With a massive ₹2 trillion GDV pipeline and a strengthened balance sheet, the company is pivoting toward enhanced free cash flow generation in the coming years.
Financial and Operational Milestones
The company recorded its best-ever quarterly performance in the fourth quarter of FY26, with pre-sales touching ₹58.9bn, a significant 23% YoY increase. Collections also saw strong momentum, reaching ₹52.3bn in Q4—an 18% YoY rise—driven by accelerated construction activity. For the full fiscal year, the company secured ₹205.3bn in total pre-sales and ₹151.6bn in collections.
Strategic Business Expansion
During FY26, Lodha significantly expanded its footprint by adding twelve new projects across Mumbai Metropolitan Region (MMR), Pune, Bengaluru, and NCR. These additions represent a Gross Development Value (GDV) of ₹~600bn, which is 2.4 times the company’s initial annual guidance. As of April 1, 2026, the firm maintains a total GDV of ₹~2 trillion available for sale, providing a substantial pipeline for future growth.
Debt Management and Future Outlook
The company’s focus on operational efficiency led to a net debt reduction of ₹8.0bn during the final quarter, bringing the total net debt down to ₹53.7bn. The company remains in a strong liquidity position, with a Net debt/Equity ratio of 0.23x, well within its 0.5x ceiling. Moving forward, the firm plans to moderate business development investments over the next 24 months to prioritize the generation of free cash flow.
Source: BSE
