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Macrotech Developers (Lodha) has set an ambitious INR 21,000 crore pre-sales target for FY26, a 19% rise over the previous year. The firm plans to launch 18.8 million sq ft of projects, up 37% from FY25. It reported INR 4,810 crore in Q4 pre-sales and INR 17,520 crore for FY25, exceeding its guidance. Backed by strong collections and INR 2,320 crore in Q4 operating cash flow, Lodha reduced net debt to INR 3,990 crore. The developer is also expanding into logistics with new land deals in Navi Mumbai and Palava. Analysts remain bullish, citing growth visibility, efficient cash flow, and prudent debt management.
India's second-largest real estate developer, Macrotech Developers (Lodha), has announced an ambitious sales target of INR 21,000 crore for FY26, signaling a 19% rise over the previous year. The company also plans to launch 18.8 million square feet of new projects in the coming financial year - a 37% increase in launch area compared to FY25. Advertisement
The company reported pre-sales of INR 4,810 crore in the March 2025 quarter, up 14% year-on-year and 17% over the previous quarter, backed by new project launches. For FY25, total pre-sales stood at INR 17,520 crore, beating its earlier guidance of INR 17,000 crore.
The company also recorded strong quarterly collections of INR 4,460 crore, up 22% year-on-year, with full-year collections reaching INR 14,490 crore. It generated INR 2,320 crore in operating cash flow in Q4 alone and INR 6,530 crore for the full year. With this, net debt fell by INR 310 crore to INR 3,990 crore and its net debt-to-equity ratio improved to 0.12x. Macrotech aims to keep this ratio below 0.5x while targeting new business development worth INR 25,000 crore in FY26.
In addition to residential housing, the company is expanding its industrial and logistics portfolio. A 250-acre industrial park and residential land worth INR 520 crore have been acquired in Navi Mumbai and Palava.
In other related real estate news, several listed developers including Godrej Properties and Sunteck Realty have also announced FY25 results with mixed performance. While Godrej saw a 20% drop in quarterly profit despite strong annual growth, Sunteck reported a 50% fall in Q4 profits due to revenue timing but hit a record in annual pre-sales. These trends reflect developers' focus on building healthy pre-sales pipelines while balancing costs and liquidity.
Macrotech's strategy of growing through new launches and maintaining low debt is expected to support sustained growth in the housing market, especially as demand continues in key cities like Mumbai, Pune, and Bengaluru.
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