Lodha Buys Land for Rs 2,300 Cr Housing Project

New Delhi, Oct 12 (PTI) Realty firm Lodha Developers Ltd has acquired one land parcel in the Mumbai Metropolitan Region (MMR) in the July-September quarter to develop a housing project worth Rs 2,300 crore as it looks to expand its business.

With the acquisition of this land parcel, Lodha Developers has achieved the current fiscal target of acquiring multiple land parcels, which have the potential to generate revenue worth Rs 25,000 crore.

In its latest operational update for the second quarter of 2025-26, Lodha Developers said, "In Q2 of FY26, we added one project with GDV (gross development value) of Rs 2,300 crore in MMR".

It did not mention whether the land acquisition was an outright purchase or a joint development agreement with the landowner.

In business development, Lodha Developers said, "We have achieved our full year guidance of Rs 25,000 crore in H1 itself and have a robust pipeline".

In the first quarter of this fiscal, the company acquired five land parcels in the Mumbai region, Pune and Bengaluru to develop housing projects with a total revenue potential of Rs 22,700 crore.

Lodha Developers, which sells properties under the 'Lodha' brand, acquired 10 land parcels during the last fiscal to develop housing projects with a total sales value of Rs 23,700 crore.

On the sales front, Lodha Developers informed that pre-sales or sales bookings rose 7 per cent to Rs 4,570 crore in the second quarter of this fiscal on better housing demand.

Its sales bookings stood at Rs 4,290 crore in the year-ago period.

"We achieved pre-sales of Rs 4,570 crore in Q2 of FY26, showing 7 per cent YoY (year-on-year) growth, despite limited launches in the quarter," Lodha Developers said.

During the first six months of this fiscal, the company's sales bookings or pre-sales increased by 8 per cent to Rs 9,020 crore from Rs 8,320 crore in the corresponding period of the preceding year.

"With the Supreme Court green-lighting the Environmental Clearance (EC) process in late August, we have significant launches in H2 and are on track to meet our FY26 pre-sales guidance of Rs 21,000 crore," Lodha Developers said.

The company's sales bookings increased to Rs 17,630 crore in FY25 against Rs 14,520 crore in the preceding year.

It has set a pre-sales target of Rs 21,000 crore for this fiscal.

Listed real estate developers have performed well so far this year, despite some sluggishness in the overall housing demand as reported by property consultants.

Lodha Developers, one of the largest real estate developers in the country, has a strong presence in the residential markets of Mumbai Metropolitan Region (MMR), Pune and Bengaluru.

The company has delivered 110 million sq ft of real estate and is developing more than 130 million sq ft under its ongoing and planned portfolio.

During the 2024-25 fiscal year, the company posted a net profit of Rs 2,766.6 crore on a total income of Rs 14,169.8 crore.

On Friday, the company's shares closed at Rs 1,154.70 apiece on the BSE.

The total market capitalisation was over Rs 1.15 lakh crore.