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Lodha Developers net debt up ₹800 cr in Q3 to ₹6,170 cr due to land purchases
Lodha Developers net debt up ₹800 cr in Q3 to ₹6,170 cr due to land purchases
New Delhi, Jan 18 (PTI) Realty firm Lodha Developers Ltd's net debt rose 15 per cent during October-December period to ₹6,170 crore because of aggressive land acquisitions for business expansion.
Lodha Developers, which sells properties under Lodha brand, is one of the leading real estate developers in the country.
In its operational update, the company informed that its net debt stood at ₹6,170 crore at the end of the third quarter of 2025-26 fiscal year. The net debt was ₹5,370 crore as on September 30, 2025.
"Despite the significant investment in business development in the first nine months of this fiscal, our net debt stood at ₹61.7 billion, well below our ceiling of 0.5x net debt/equity," Lodha Developers said.
During the latest December quarter, the company acquired 5 land parcels in Mumbai Metropolitan Region (MMR), Delhi-NCR and Bengaluru to develop projects.
It acquires land parcels through outright purchases and partnerships with landowners to create strong pipeline of future projects.
Mumbai-based Lodha Developers would build real estate projects, primarily housing, on these five land parcels. The total revenue potential is estimated at ₹33,800 crore.
Last month, the company partnered with MRG Group to develop two projects in Gurugram.
This marked the entry of Lodha Developers in the Delhi-NCR's housing and commercial real estate market. It is already developing a warehousing project.
The company already has a strong presence in the residential markets of MMR, Pune and Bengaluru.
During the last fiscal, the company's sales bookings increased to ₹17,630 crore, as against ₹14,520 crore in the preceding year.
For the current financial year, Lodha has set a sales bookings target of ₹21,000 crore.
Since inception, the company has delivered 110 million square feet of real estate and is developing more than 130 million square feet under its ongoing and planned portfolio.
