LODHA · Realty
Lodha Developers Ltd. reported revenue of ₹2,931 cr for October to December 2023, — on the year and +67.5% on the quarter.
Operating profit (EBITDA) was ₹876 cr, a margin of 29.9%, — on the year and +634 bps on the quarter.
Net profit was ₹505 cr, — on the year and +148.8% on the quarter, with earnings per share of ₹5.22.
Real estate revenue is booked when projects complete, so the quarterly statements lag the business; pre-sales and collections show where it actually is. The quarterly statements do not carry pre-sales, collections and launches; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,931 cr | ₹4,018 cr | ₹2,846 cr | ₹2,626 cr | ₹4,083 cr | ₹4,224 cr | ₹3,492 cr | ₹3,799 cr | ₹4,672 cr | ₹4,714 cr | ₹4,997 cr | ₹4,467 cr |
| YoY | — | — | +76% | +50% | +39% | +5% | +23% | +45% | +14% | +12% | +43% | +18% |
| EBITDA margin | 29.9% | 26.0% | 26.6% | 26.8% | 32.0% | 28.9% | 28.2% | 29.2% | 30.3% | 30.0% | 38.5% | 33.3% |
| Other income, % of PBT | −12% | 7% | 11% | 11% | 6% | 17% | 15% | 8% | 9% | 10% | 6% | 9% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 22% | 24% | 27% | 24% | 18% | 22% | 25% | 18% | 23% | 20% | 23% | 24% |
| Net profit | ₹505 cr | ₹667 cr | ₹476 cr | ₹423 cr | ₹945 cr | ₹923 cr | ₹675 cr | ₹790 cr | ₹958 cr | ₹1,008 cr | ₹1,373 cr | ₹1,014 cr |
| YoY | — | — | +166% | +108% | +87% | +38% | +42% | +87% | +1% | +9% | +103% | +28% |
| Core profit YoY | — | — | +220% | +93% | +51% | +22% | +33% | +76% | +4% | +15% | +117% | +39% |
| EPS | ₹5.22 | ₹6.69 | ₹4.78 | ₹4.25 | ₹9.47 | ₹9.24 | ₹6.76 | ₹7.90 | ₹9.58 | ₹10.09 | ₹13.73 | ₹10.14 |
| Flags | · | · | ✓ | ✓ | 1 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Lodha Developers Ltd. reported revenue of ₹2,931 cr (— on the year) and net profit of ₹505 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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