Lodha Developers Q2 profit up 28 pc to Rs 1 013 cr revenue rises to Rs 4 585 cr

    New Delhi, Oct 30 (PTI) Realty firm Lodha Developers Ltd on Friday reported a 28 per cent increase in consolidated net profit at Rs 1,013.5 crore for the September quarter on higher income.

     Its net profit stood at Rs 789.8 crore in the year-ago period.

     Total income rose to Rs 4,584.9 crore in the second quarter of this fiscal from Rs 3,878.9 crore a year ago, according to a regulatory filing.

     Managing Director Abhishek Lodha said the company has delivered continued strong operating and financial performance in September quarter of FY27, building on the momentum that it has sustained since initial public offering in 2021.

     He said the PAT margins were 22.1 per cent in the September quarter.

     "Basis the strong performance in H1, we expect to easily exceed our profit guidance for the year, " said Lodha.

     He highlighted that the company's Bengaluru expansion continues to gather pace, with another successful launch in North Bengaluru during the September quarter.

     "The strength of this response reaffirms robust underlying demand for a quality brand like Lodha and helps allay concerns around AI-led disruption impacting segments beyond affordable housing," he said.

     The first pilot project in Delhi-NCR would be launched this festive season.

     "We remain concerned about the continuing conflict in the Middle East and are tracking its geopolitical and macro-economic implications carefully. The recent rise in interest rates in India is unlikely to have a direct impact on housing demand for the segments we serve. However, we will be watching the second order impacts," Lodha said.

     Mumbai-based Lodha Developers is one of the leading real estate companies in the country.

     It has a strong presence in Mumbai Metropolitan Region, Pune and Bengaluru. The company has entered Delhi-NCR market recently.

(This story has not been edited by THE WEEK and is auto-generated from PTI)