Lodha announced its key operations updates with Q4FY24 pre-sales of INR 42.3 bn their best quarterly performance ever, up 40% on YoY basis. For FY24, pre-sales were INR 145.2 bn - once again our best ever annual pre-sales performance, thus meeting our guidance of delivering consistent and predictable 20% growth.
The collections were INR 35.1 bn for 4QFY24 showing a growth of 20% YoY. FY24 collections were 112.6 bn. The business development during FY24, we added new projects having cumulative GDV of INR 203 bn across various micro-markets of MMR, Pune and Bengaluru, exceeding our guidance of INR 175 bn.
On the back of strong operating cash flow generation and recently concluded equity raise, our net debt further reduced to INR 30.1 bn which is <0.2x of equity, thus achieving our goal of net debt:equity <= 0.5x. Continuing robustness in business fundamentals and strengthening of balance sheet has led to further credit rating upgrade to ‘AA- (Stable)’ by ICRA.
