Lodha Developers Q4 FY26 profit rises 9% on sales pre-sales

Key Q4 FY26 takeaway for investors

Lodha Developers reported a year-on-year rise in profit for Q4 FY26, supported by higher revenue and stronger pre-sales. Profit attributable to owners of the company rose 9.35% to Rs 1,007.9 crore. The quarterly profit also beat an estimate of Rs 837 crore cited in the report. The company’s adjusted EBITDA for the quarter stood at Rs 1,650 crore, up 13% year-on-year. Sequentially, revenue increased by 87 basis points, while profit rose 5.32%. The update matters because it links profitability to execution metrics such as pre-sales and collections, which are watched closely in residential real estate.

What Lodha reported for Q4 FY26

The company attributed the quarter’s performance to higher revenues and pre-sales. Pre-sales in Q4 FY26 increased 23% year-on-year to Rs 5,890 crore. Lodha described it as its “best ever quarterly pre-sales” at Rs 5,890 crore for Q4 FY26. However, it also flagged a March deferral of some sales due to the Iran war. The company said this deferral meant pre-sales were Rs 470 crore below guidance for the period. The commentary linked the annual miss to the broader West Asia conflict.

FY26: revenue up 21%, profit up 24%

For the full FY26 fiscal year, Lodha’s revenue rose 21.02% to Rs 16,676.2 crore. Profit for FY26 increased 24.01% to Rs 3,428.2 crore, with the company pointing to pre-sales as a driver. Full-year pre-sales grew 16% to Rs 20,530 crore from Rs 17,630 crore in the preceding year. In rupee terms, that prior-year base of Rs 17,630 crore corresponds to the Rs 176.3 billion figure referenced in the data. The combination of higher revenue and pre-sales growth indicates continued demand in the company’s key markets, even as geopolitical events affected end-quarter decision-making.

Quarterly pre-sales and the impact of West Asia disruption

Lodha said March saw selective deferral of sales due to the Iran war, which weighed on meeting guidance. While Q4 pre-sales still rose to Rs 5,890 crore, the company’s note suggests some bookings shifted beyond the quarter. The company also stated it missed its annual target because of the West Asia conflict. For real estate developers, the timing of customer decisions can influence quarterly numbers, especially when launches and booking campaigns are concentrated at the end of a quarter. Investors typically track whether such deferrals convert into later bookings and collections. The company’s full-year pre-sales growth of 16% provides some context that demand remained intact over the year.

Operating performance: EBITDA growth and sequential movement

Adjusted EBITDA for Q4 FY26 stood at Rs 1,650 crore, reflecting a 13% year-on-year rise. The report also provided sequential indicators, with revenue up 87 basis points and profit up 5.32%. These sequential changes indicate that the quarter built modestly on the immediately preceding quarter on profitability. The beat versus the Rs 837 crore estimate adds an element of surprise on earnings delivery. However, the company’s own disclosure about deferred pre-sales underscores that quarterly earnings can be influenced by timing effects. Market participants may look for follow-through in collections and cash conversion in subsequent updates.

Recent quarters and FY25 context

The company had earlier reported Q3 FY26 revenue of Rs 4,672.50 crore and net profit of Rs 957.70 crore, as stated in the provided text. For FY25, Lodha reported revenue of Rs 13,780 crore and profit after tax (PAT) of Rs 2,770 crore, a 71% rise. Separately, the company reported a dividend of Rs 4.25 declared on 22 Aug, 2025. The company was previously known as Macrotech Developers and rebranded as Lodha Developers in June 2025. These context points matter because they frame FY26 growth against a year that already showed strong profitability expansion.

Construction spend, launches, and land additions

Lodha said it would invest Rs 1,200 crore in the quarter on pure construction activities. It also indicated plans to launch 12 housing projects with an estimated sales value of nearly Rs 13,000 crore, with a launch pipeline of 7 million sq ft across the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The revenue potential for this 7 million sq ft was estimated at Rs 12,820 crore. In the first nine months of the fiscal year, the company invested Rs 2,930 crore on construction. Over the same nine-month period, it launched 9.7 million sq ft across 20 projects with an estimated revenue potential of Rs 22,880 crore. The company also acquired 11 land parcels in MMR, Delhi-NCR, Pune, and Bengaluru, with an estimated saleable area of 20.6 million sq ft and expected sales value of Rs 58,800 crore.

Pre-sales and collections: nine-month snapshot

On a nine-month basis, Lodha’s pre-sales rose 14% year-on-year to Rs 14,640 crore. Collections declined 1% to Rs 9,930 crore in 9M FY26 compared with 9M FY25. Pre-sales indicate booking momentum, while collections point to cash inflows, which can be influenced by construction milestones and customer payment schedules. The divergence in the nine-month numbers highlights why markets track both metrics together. Updates on construction progress and handovers can be relevant for future collection trends. The company’s disclosed construction investments and launch pipeline provide additional context around execution intensity.

Summary table: reported metrics from the update

Market impact and why the numbers matter

The Q4 profit beat versus the cited estimate can influence near-term sentiment around earnings delivery, especially when backed by year-on-year EBITDA growth. Full-year revenue and profit growth of 21.02% and 24.01% respectively show that FY26 was not only a booking story but also reflected in reported financials. Pre-sales growth of 16% to Rs 20,530 crore provides an operating indicator of demand, while the company’s note on geopolitical disruption helps explain the miss versus guidance. The launch pipeline and construction spend indicate the company is preparing supply to meet demand across key markets like MMR, Pune, and Bengaluru. At the same time, the nine-month collection decline of 1% to Rs 9,930 crore is a reminder that cash conversion can behave differently from booking momentum.

Conclusion

Lodha Developers closed Q4 FY26 with profit rising 9.35% year-on-year to Rs 1,007.9 crore, supported by higher revenue, improved EBITDA, and stronger pre-sales. For FY26, the company reported revenue of Rs 16,676.2 crore and profit of Rs 3,428.2 crore, alongside pre-sales of Rs 20,530 crore. The company also highlighted deferred sales in March due to the Iran war, which it said left pre-sales Rs 470 crore below guidance and contributed to missing its annual target amid the West Asia conflict. Next, investors are likely to track how deferred bookings translate into subsequent pre-sales and collections, along with progress on the planned construction spend and the 12-project launch pipeline.