Lodha Developers shares rise as Q3 profit comes in line with estimates

Motilal Oswal said Lodha Developers witnessed accelerated business development activity in the first nine months, with project launches expected to pick up pace in Q4FY26

Shares of Lodha Developers Ltd. rose 2 per cent on Thursday after the company reported in-line earnings for the December quarter of the financial year 2026 (Q3-FY26). 

 

The company's stock rose as much as 2.38 per cent during the day to ₹951.2 per share, a day after it rose nearly 3 per cent on Wednesday. The stock pared gains to trade 0.6 per cent higher at ₹934 apiece, compared to a 0.40 per cent decline in Nifty 50 as of 11:00 AM. 

 

Shares of the company rose for the third straight session and currently trade at 5 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 11.7 per cent this year, compared to a 3.6 per cent decline in the benchmark Nifty 50. Lodha Developers has a total market capitalisation of ₹93,099.89 crore. 

 

Lodha Developers Q3 results

Lodha Developers reported a 14.4 per cent year-on-year (Y-o-Y) increase in consolidated revenue to ₹4,673 crore in the third quarter of financial year 2026, compared with ₹4,083 crore a year earlier.

 

Ebitda rose 8.4 per cent to ₹1,415 crore from ₹1,306 crore, while the Ebitda margin moderated to 30.3 per cent from 32 per cent. Net profit for the quarter increased 1.3 per cent to ₹957 crore, against ₹944 crore in the corresponding period last year.

Analysts on Lodha Developers earnings 

Nomura said the company’s December quarter revenue and Ebitda rose 14 per cent and 8 per cent Y-o-Y, respectively, broadly in line with consensus estimates. The brokerage noted that margins declined Y-o-Y due to a lower contribution from land sales, although embedded margins on reported pre-sales remained strong at around 33 per cent.

 

Nomura maintained a 'Buy' rating on the stock with a sum-of-the-parts-based target price of ₹1,450. It added that the stock has corrected about 20 per cent over the past year, compared with an 11 per cent rise in the Nifty 50, and currently trades at an estimated 15 per cent discount to net asset value, with most negatives already priced in.

 

Motilal Oswal said the company witnessed accelerated business development activity in the first nine months, with project launches expected to pick up pace in Q4FY26.

 

The brokerage has a 'Buy' rating on the stock. It noted that the company has initiated a pilot entry into the National Capital Region through two joint development agreement projects in Gurugram, with a combined gross development value of ₹3,600 crore. 

 

Motilal Oswal said the risk-calibrated capital deployment marks the company’s entry into India’s second-largest housing market, which remains fragmented with limited presence of trusted developers, and enables Lodha to address nearly 80 per cent of housing demand across the top seven cities.

 

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