Lodha Developers Ltd.
NSE: LODHALodha Developers Ltd.: A 30-second snapshot
Lodha Developers (LODHA) trades at ₹893, a trailing PE of 26.1x and a forward PE of 18.8x, with ROE of 15.71% — the highest among its six tracked Realty peers. The stock is 41.48% below its 52-week high and has declined 38.36% over the past 12 months, remaining below the 200-DMA of ₹1,048.52 while holding above the 50-DMA of ₹847.52. Debt-to-equity stands at 42.24, which is structurally elevated for a non-bank developer even by sector standards.
P/E
26.1
Forward P/E
18.8
ROE
+15.7%
Debt / Equity
42.24
Profit Margin
+20.6%
Div. Yield
+0.5%
5Y ROE > 15%
0/5
5Y FCF > 0
4/5
Quality
52/100
News
8 headlines · 4 positive · 0 negative
Amazon Data Services buys a 10-acre parcel of land near Mumbai from Lodha Developers for over ₹125 crore - land2capital.com
land2capital.com
Lodha Developers plans INR 21,800 crore residential launches across key cities as it targets higher sales bookings this fiscal - Prop News Time
Prop News Time
Lodha Developers aims 2.5-fold jump in annual net profit to Rs 8,500 cr by FY31: MD Abhishek Lodha - The Economic Times
The Economic Times
Buy Lodha Developers Ltd for the Target Rs. 1,150 by Motilal Oswal Financial Services Ltd - Investment Guru
Investment Guru
Adani, Reliance, Lodha, JSW bid for 206-acre Mumbai redevelopment projects - The Economic Times
The Economic Times
Recent context
- ·Amazon Data Services purchased a 10-acre parcel near Mumbai from Lodha Developers for over ₹125 crore (June 2026), indicating active land monetisation activity with institutional buyers.
- ·Management guided for ₹21,800 crore in residential project launches across key cities this fiscal year and a 2.5x increase in annual net profit to ₹8,500 crore by FY31, as reported by The Economic Times (May 2026).
- ·Lodha is among the bidders for a 206-acre Mumbai redevelopment project alongside Adani, Reliance, and JSW, signalling participation in large-scale city redevelopment opportunities (May 2026).
Strengths
- +ROE of 15.71% leads all six tracked Realty peers — DLF (10.03%), Godrej Properties (9.97%), Oberoi Realty (14.91%), Phoenix Mills (11.06%), and Prestige (8.00%) — representing a material gap in capital return efficiency.
- +Free cash flow has been positive in 4 of the tracked years, suggesting the business generates sufficient operating cash to service obligations in most periods despite high leverage.
- +Forward PE of 18.8x compresses meaningfully from trailing PE of 26.1x, implying that earnings growth expectations embedded in analyst estimates are meaningful for the near-term period.
- +PE of 26.1x sits below sector peers Phoenix Mills (49.8x) and Prestige (48.9x), and is broadly in line with Godrej Properties (27.9x), placing LODHA in the lower half of the peer valuation range despite leading on ROE.
Weaknesses
- −Debt-to-equity of 42.24 is structurally elevated; with a flat debt trend and 5-year revenue CAGR of 7.6%, the balance sheet provides limited buffer if residential demand or credit conditions deteriorate.
- −Stock has declined 38.36% over 12 months and remains 41.48% below its 52-week high, with price below the 200-DMA (₹1,048.52) for an extended period — a pattern consistent with sustained selling pressure.
- −ROE of 15.71% does not reflect a multi-year track record: roeYearsAbove15 = 0 in prior years tracked, meaning the current figure represents a recent data point rather than a demonstrated pattern of capital efficiency.
- −Quality score of 49 ranks 3rd of 6 in the Realty peer group, trailing Oberoi Realty (65) and Phoenix Mills (55) — the composite metric is weighed down by leverage and consistency factors that partially offset the ROE advantage.
Open questions
- ?Does the debt-to-equity of 42.24 reflect structural developer-financing norms for LODHA's project pipeline, or does it represent a level of leverage that introduces material refinancing risk if interest rates remain elevated?
- ?How durable is the current ROE of 15.71% given that no prior year in the tracked period exceeded 15% — and what mix of project completions or accounting timing effects may be influencing the current figure?
- ?If management's FY31 profit target of ₹8,500 crore implies roughly 2.5x growth from current levels, what assumptions about residential volume, realization per square foot, and debt servicing costs underpin that trajectory?
- ?What explains the divergence between net positive news flow (land deal, launch pipeline, institutional interest) and the 38% price decline over 12 months — and does the gap reflect macro rate concerns, sector rotation, or company-specific factors?
Peer comparison: Realty
Ranks 3 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| LODHA | Lodha Developers Ltd.You're viewing | 26.1 | +15.7% | 49 |
| Industry avg | across 5 peers | 36.6 | +10.8% | 44 |
| OBEROIRLTY | Oberoi Realty Ltd. | 23.9 | +14.9% | 65 |
| PHOENIXLTD | Phoenix Mills Ltd. | 49.8 | +11.1% | 55 |
| GODREJPROP | Godrej Properties Ltd. | 27.9 | +10.0% | 44 |
| DLF | DLF Ltd. | 32.5 | +10.0% | 29 |
| PRESTIGE | Prestige Estates Projects Ltd. | 48.9 | +8.0% | 25 |
Technical state
Current price
₹893.00
SMA 50
₹847.52
SMA 200
₹1,048.52
RSI (14)
50.4 (neutral)
From 52w high
-41.5%
1Y return
-38.4%
3M return
-12.7%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highDebt-to-equity of 42.24 is exceptionally elevated for a non-bank real estate developer. With 5-year revenue CAGR of 7.6% and a flat debt trend, a meaningful demand slowdown or sustained rise in borrowing costs would directly compress interest coverage and pressure cash flows.
- highStock is 41.48% below its 52-week high and down 38.36% over the past 12 months. Price of ₹893 remains below the 200-DMA of ₹1,048.52, indicating a sustained long-term trend break. The 50-DMA of ₹847.52 sits approximately 5% below current price.
- mediumROE of 15.71% is the highest among tracked Realty peers, but roeYearsAbove15 = 0 in prior years — the current figure does not yet reflect an established multi-year track record of capital efficiency above that threshold.
- mediumQuality score of 49 ranks 3rd of 6 in the Realty peer group, trailing Oberoi Realty (65) and Phoenix Mills (55), despite LODHA leading all peers on trailing ROE. The composite score appears weighed down by leverage and consistency factors.
Cross-section contradictions
- ROE of 15.71% leads all 6 tracked Realty peers, yet the quality score of 49 ranks only 3rd of 6 — indicating that leverage and consistency factors are offsetting the ROE advantage in the composite metric.
- News sentiment is net positive (4 positive, 0 negative across 8 articles), with management guiding a 2.5x jump in net profit to ₹8,500 crore by FY31 and ₹21,800 crore in residential launches this fiscal, while the stock has declined 38.36% over 12 months — positive operational newsflow has not been reflected in price recovery.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 1 Jun 2026 · rotates through NIFTY 500 every ~5 days