Lodha Developers shares fall nearly 2% as quarterly pre-sales slip 7% QoQ

Lodha Developers share price dropped 1.8 per cent, recording an intraday low of ₹1,352.30 on Tuesday after the real estate player reported a 7 per cent quarter-on-quarter (Q-o-Q) drop in pre-sales figure for the June quarter of financial year 2025-2026. Even as Lodha Developers (formerly Macrotech Developers) reported a 10 per cent year-on-year (Y-o-Y) rise in pre-sales to ₹4,450 crore in Q1FY26, the figure marked a 7 per cent sequential decline from the previous quarter.

 

At 11:40 am, the shares of the real estate developer were trading at ₹1,356, down by 1.55 per cent on the National Stock Exchange. In contrast, the Nifty50 was trading flat in the negative zone, well-below the psychological 25,500 level. So far this year, shares of Lodha Developers have remained largely range-bound, albeit in the negative territory, witnessing a drop of 0.79 per cent.  READ STOCK MARKET UPDATES TODAY LIVE

Lodha Developers Q1FY26 updates

Overall collections saw a healthy 7 per cent uptick to ₹2,880 crore in Q1FY26, up from ₹2,690 crore in the same quarter last year. While net debt remained well below the ceiling of 0.5x net debt-to-equity, it rose by ₹1,100 crore sequentially.

"With further strengthening of our launch pipeline for the current FY on the back of significant business development achieved during the quarter, we remain on track to achieve FY26 presales guidance of ₹2,100 crore," Lodha Developers said in an exchange filing. During the quarter under review, the company added 5 new projects across MMR, Pune and Bengaluru, with a combined gross development value (GDV) of ₹22,700 crore. This represents over 90 per cent of the company's full year guidance of ₹25,000 crore.  ALSO READ | This real estate company's shares rose 5% in trade; check all details here

Brokerage View- JM Financials

Analysts at JM Financials continue to take a positive outlook on the stock. While the real estate developer's increasing debt might pose a concern, the brokerage firm said that the sequential rise was primarily driven by business development activity and sustained expenditures on securing approvals for ongoing projects.

 

"Net debt stood at ₹5,080 crore during 1QFY26, up by ₹1,100 crore sequentially due to record business development and continued spending on approvals of ongoing projects. We remain positive on Lodha as it continues to execute well across all parameters and maintain BUY with a target price of ₹1,480," the brokerage firm said in a note.