Lodha achieved their best ever quarterly pre-sales of INR 42.9bn, showing growth of 21% on YoY despite the inauspicious ‘Shradhh’ period falling in September this FY (vs October in FY24). Thus, have achieved pre-sales of INR ~83bn in H1FY25. Having achieved 21% YoY pre-sales growth in first half and with the festive season commencing, the company is on target to meet its full year guidance of 20% pre-sales growth
Collections were INR 30.7bn for Q2FY25 showing a growth of 11% YoY
The company has added four projects in Pune and Bengaluru, having INR 55bn of GDV. Business development for the 1st half of the fiscal stands at INR 166bn, which is >75% of full year guidance of INR 210bn.
Additionally, Lodha has acquired 45 acres of land for our Digital Infrastructure (warehousing and industrial) business in Chennai, as well as entered into agreement to increase our stake in the rental income (PropCo) from our Digital Infrastructure platform to 66.7% (from earlier ~33%).
The net debt is INR 49.2bn, well below our ceiling of 0.5x Net Debt/Equity.
