Robust financial growth and strategic developments mark a landmark quarter for Lodha as it continues to expand its footprint and lead in sustainability.

Unprecedented Pre-Sales Despite Market Challenges

Mumbai, 25th October 2024 — Lodha, a leader in India’s real estate sector, announced a record-breaking quarterly pre-sales performance of INR 42.9 billion for the quarter ending September 30, 2024. This achievement reflects a 21% year-on-year increase, showcasing the company’s resilience even during the traditionally slower monsoon period.

The robust pre-sales figures came despite the impact of the “Shradhh” period in September, which generally dampens market activity. Lodha’s consistency in achieving INR 40 billion+ pre-sales for the third consecutive quarter is a testament to its strong business model, catering to a rising demand for quality housing driven by affordability and a positive consumer outlook.

Expanding Project Portfolio in Pune and Bengaluru

During Q2FY25, Lodha expanded its project portfolio with four new developments, adding a Gross Development Value (GDV) of INR 55 billion across Pune and Bengaluru. These additions include two projects each in Pune (GDV of INR 17 billion) and Bengaluru (GDV of INR 38 billion). With these additions, Lodha’s pipeline for business development remains strong, as it seeks to surpass its annual target of INR 210 billion in GDV by the fiscal year-end.

Financial Performance Highlights

Lodha reported solid growth across key financial metrics in Q2FY25:

Pre-sales: INR 42.9 billion (+21% YoY)

Collection: INR 30.7 billion (+11% YoY)

Revenue from Operations: INR 26.3 billion (+50% YoY)

Adjusted EBITDA: INR 9.6 billion (+74% YoY)

Profit After Tax (PAT): INR 4.2 billion (+98% YoY)

The company’s EBITDA margin remains robust at 37%, signaling sustained profitability and operational efficiency.

Strategic Moves in Digital Infrastructure and Data Centers

Lodha completed a landmark deal in its digital infrastructure segment, selling land in Palava to a global data center operator at INR 120 million per acre. This transaction positions Palava as an emerging data center hub, capitalizing on India’s growing demand for data-driven infrastructure, fueled by the digital and AI revolutions.

Further, Lodha has acquired 45 acres in Chennai for its Digital Infrastructure business, aimed at expanding its warehousing and industrial offerings. The company also increased its stake in the digital infrastructure platform to 67%, reinforcing its commitment to achieving an annuity income of INR 15 billion by FY31.

Commitment to Sustainability: Recognition and Initiatives

In line with its sustainable development goals, Lodha has made significant strides in renewable energy and carbon footprint reduction:

Renewable Power: Lodha awarded a 6MW renewable power tender under the Open Access Solar Scheme.

Innovative Building Materials: Collaborating with IIT Delhi, Lodha piloted the use of LC3 concrete at Palava, which can reduce embodied carbon by up to 40%.

Social Impact: Lodha’s Unnati upskilling program recently reached 1,000 women beneficiaries, demonstrating its dedication to social empowerment.

Lodha’s sustainability efforts have earned it a score of 80 out of 100 in the S&P Global Corporate Sustainability Assessment, ranking it 5th among approximately 500 global real estate companies. Additionally, the company has retained its position in the Dow Jones Sustainability Index (DJSI) and the Global Real Estate Sustainability Benchmark (GRESB), underscoring its commitment to environmental and social governance.

Outlook for the Year Ahead

Lodha remains optimistic about achieving its FY25 pre-sales target of INR 175 billion, with the festive season boosting demand. With a favorable interest rate outlook and growing competition among mortgage providers, the company expects further support for mid-income housing demand.

This quarter reflects Lodha’s strength in navigating seasonal and economic challenges while actively pursuing growth and sustainability. As the company looks toward a transformative year, it continues to set a benchmark in India’s real estate sector.