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Lodha Developers Ltd

| Audited Consolidated Financial Results for Q4 and Year Ended March 31, 2026

Report Source

⬤24th Apr 26

Summary : Lodha Developers reported strong FY26 financial results with an unmodified audit opinion, declared a dividend, and strengthened its board.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total Expenses (FY26): ₹127,574 million.
  2. Standalone Total Expenses (FY26): ₹117,453 million.
  3. Consolidated Revenue from Operations (FY26): ₹166,762 million.
  4. Consolidated Other Income (FY26): ₹4,433 million.
  5. Standalone Revenue from Operations (FY26): ₹145,417 million.
  6. Standalone Other Income (FY26): ₹8,768 million.
  7. Consolidated Net Cash from Operating Activities (FY26): ₹9,593 million.
  8. Consolidated Net Cash from Investing Activities (FY26): (₹7,802) million.
  9. Consolidated Net Cash from Financing Activities (FY26): ₹15,892 million.
  10. Standalone Net Cash from Operating Activities (FY26): ₹14,858 million.
  11. Standalone Net Cash from Investing Activities (FY26): (₹15,322) million.
  12. Standalone Net Cash from Financing Activities (FY26): ₹14,355 million.
  13. Consolidated Total Assets (FY26): ₹589,366 million.
  14. Consolidated Total Equity (FY26): ₹234,292 million.
  15. Standalone Total Assets (FY26): ₹575,665 million.
  16. Standalone Total Equity (FY26): ₹222,114 million.
  17. Newly appointed/re-appointed directors are not related to other directors.
  18. Both standalone and consolidated financial results are presented and audited.

Corporate Overview

  1. Operations are confined to India.
  2. Real estate development is the sole reportable segment.
  3. Real estate development

Risk Factors

  1. Reliance on other auditors for subsidiaries.
  2. Ongoing NCLT approval for mergers.
  3. Future events could impact going concern.
  4. Maintaining security cover for debentures.

Key Drivers

  1. Strong financial performance and growth.
  2. Final dividend declared for shareholders.
  3. Unmodified audit opinion received.
  4. Strategic board appointments strengthen leadership.

Auditor’s Report

  1. Unmodified opinion on consolidated annual financial results.
  2. Unmodified opinion on standalone annual financial results.
  3. Reliance on other auditors for financial statements of two subsidiaries.

Board Commentary

  1. Re-appointment of Mr Lee Polisano as Independent Director for a second term (5 years) from July 30, 2026.
  2. Appointment of Mr Akhil Gupta as Additional (Non-Executive, Independent) Director for a term (5 years) from April 24, 2026.
  3. Designation of Mr Satish Shenoy as Chief Operating Officer - Construction Management (SMP) from April 24, 2026.
  4. Recommended final dividend of ₹4.25 (42.5%) per equity share for FY26.
  5. Dividend subject to approval at the 31st Annual General Meeting.
  6. NCLT, Mumbai Bench approved merger of One Place Commercials Private Limited and Palava City Management Private Limited, effective May 15, 2025.
  7. Ongoing NCLT filing for merger of National Standard (India) Limited and Roselabs Finance Limited.

Corporate Governance

  1. Auditors comply with Code of Ethics issued by ICAI.
  2. Re-appointment of Independent Director Mr Lee Polisano.
  3. Appointment of Additional (Non-Executive, Independent) Director Mr Akhil Gupta.
  4. Auditors confirm compliance with Code of Ethics.
  5. Audit Committee reviewed and Board of Directors approved results.