Lodha Developers is looking at bookings of more than Rs 46,000 crore in the next two years, over 43% higher than what it did in the previous two years .
The Mumbai-headquartered real estate company did bookings of Rs 17,600 crore in FY25 and Rs 14,500 crore in FY24.
DLF, the country’s largest developer, has set a sales target of Rs 22,000 crore for FY26 as against Lodha’s Rs 21,000 crore.
“Our goal is to deliver 20% year-on-year presales growth, driven by a combination of 5-7% price appreciation and 13-15% volume growth, supported by a strong launch pipeline and superior execution capabilities,” said Sushil Kumar Modi, executive director-finance, Lodha Developers.
The indicated gross development value (GDV) of Rs 18,800 crore for FY26 launches is likely to grow further, as several newly acquired land parcels are expected to be brought to market within the year, he said.
He said the company targets the Bengaluru market to contribute around 15% to overall sales, and it is confident that this can be achieved well within the next decade —potentially even earlier — “driven by our strategic land acquisitions, brand strength, and the city’s growing demand for quality housing”.
“We believe India’s housing market is in the midst of a long-term structural upcycle, likely to sustain over the next 15-20 years. With homeownership among the new-age population steadily rising to around 20-25%, demand is expected to remain robust,” Modi said .
Residential sales of top developers are expected to see a tad lower growth of 10-12% in FY26 compared with 12-14% in FY25, Crisil Ratings said recently.
In the three financial years through FY25, sales of top players clocked a compound annual growth rate (CAGR) of around 26%. Demand clocked around 14% CAGR during the same period, with the balance being contributed by growth in realisations, Crisil said.
Lodha’s bookings are expected to clock a 20% CAGR, led by healthy collections and a comfortable debt level of 0.2x at the end of the fourth quarter of FY25, Motilal Oswal said in a report last week .
The company has entered the Pune market and is scaling up at a healthy pace. Additionally, it has completed its pilot phase in Bengaluru and started scaling up with the acquisition of a 5.6 million square feet project with a GDV of Rs 6,600 crore in FY25, Motilal Oswal said .
Further, Lodha is expanding its commercial and industrial portfolios to garner strong rentals. “We believe the company’s ability to acquire projects at a constant pace is commendable and provides strong growth visibility, along with timely execution,” it said.
Lodha currently has an unsold inventory of 7.5million sq ft of completed projects and 16.8 million sq ft of ongoing ones. Further, it has a planned inventory of around 85 million sq ft that will help it progress toward the targeted FY31 presales guidance of Rs 50,000 crore, it added.