Lodha Hits Record ₹205 Billion Pre-Sales in FY26; Strategic Pivot Toward Free Cash Flow Announced

Mumbai, April 7, 2026: Real estate giant Lodha (Macrotech Developers) has reported its strongest-ever quarterly performance, achieving record-breaking pre-sales of ₹58.9 billion in the fourth quarter of fiscal year 2026. According to an operational update filed with the BSE and NSE on Tuesday, the company’s quarterly sales surged 23% year-on-year, pushing its full-year pre-sales to a milestone ₹205.3 billion. While the annual figure represents a 16% growth over the previous year, the company noted that March saw “select deferral of sales due to the Iran war leading to pre-sales being ₹4.7 bn below guidance.”

The company’s financial health was further bolstered by a significant ramp-up in collections, which reached ₹52.3 billion for the quarter, marking an 18% increase over Q4 FY25. This sharp recovery from the previous quarter was attributed to intensified construction activity across various project sites. For the full fiscal year 2026, total collections stood at ₹151.6 billion, a 5% increase year-on-year, providing the liquidity necessary to manage debt and reinvest in the company’s massive project pipeline.

On the business development front, Lodha has aggressively expanded its footprint, adding a new project in the Mumbai Metropolitan Region (MMR) with a Gross Development Value (GDV) of ₹13 billion in the final quarter. Over the course of the full year, the firm added twelve projects across MMR, Pune, Bengaluru, and the National Capital Region (NCR). These additions total a GDV of approximately ₹600 billion, which is 2.4 times the company’s original annual guidance. As of April 1, 2026, the company holds a staggering ₹2 trillion in GDV available for sale, excluding long-term land banks.

Reflecting on this robust inventory, the company announced a strategic shift in its capital allocation for the near future. “Consequently, we expect to reduce business development investments over the next 24 months and increase free cash flow,” the disclosure stated. This pivot toward cash flow generation follows a period of heavy investment that has successfully positioned the company as a dominant player in India’s most lucrative property markets.

The surge in collections has also allowed Lodha to strengthen its balance sheet, reducing its net debt by ₹8.0 billion to ₹53.7 billion during the quarter. Despite the high volume of project acquisitions throughout the year, the company maintains a conservative leverage profile. Management highlighted that the “Net debt/Equity stands at 0.23x, well below our ceiling of 0.5x Net debt/Equity,” signaling a high level of fiscal discipline amid its rapid expansion. While these provisional figures are subject to a limited review, they underscore a year of record-scale operations and strategic consolidation for the developer.