Curation Team
Realty developer Lodha Developers has reported a 7% on-year rise in pre-sales at Rs 4,570 crore for the quarter ended September. The company’s collections for the quarter grew 13% from a year ago to Rs 3,480 crore.
With this, the company’s pre-sales for the first half of the financial year stood at Rs 9,020 crore, up 8% from a year ago. The collections for the half year period rose 10% to Rs 6,360 crore, Lodha said in a regulatory filing.
During the quarter, the developer added one project with gross development value (GDV) of Rs 2,300 crore in the Mumbai Metropolitan Region. With this, according to the company, it has achieved its full year guidance of Rs 25,000 in the first half of the year with a robust pipeline
According to the company, it has several launches planned in the second half of the year and is on track to meet the 2025-26 pre-sales guidance of Rs 21,000 crore.
Despite the significant investment in business development in the first half of the financial year, the company’s net debt stood at Rs 5,370 crore, below its stated ceiling of 0.5 times net debt-equity.
