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Lodha Developers Ltd reported a 7% rise in sales bookings during the second quarter of the current fiscal, reaching INR 4,570 crore, supported by sustained housing demand. The developer stated that despite limited new launches, sales performance remained strong. With the Supreme Court recently clearing the Environmental Clearance (EC) process, the company plans to ramp up launches in the second half and aims to meet its annual pre-sales target of INR 21,000 crore.
Lodha Developers Ltd witnessed a 7% year-on-year increase in its sales bookings during the second quarter of the ongoing fiscal, totalling INR 4,570 crore, compared to INR 4,290 crore recorded in the same period last year. The firm shared its operational update for the July-September quarter earlier this week, attributing the growth to resilient housing demand despite limited project launches during the period. Advertisement
The company mentioned that with the Supreme Court's approval of the Environmental Clearance (EC) process in late August, it now plans several key project launches in the second half of the fiscal. Lodha Developers indicated that it remains on track to achieve its pre-sales guidance of INR 21,000 crore for the full financial year.
In the first six months of the current fiscal, Lodha's pre-sales rose by 8% to INR 9,020 crore, as compared to INR 8,320 crore during the corresponding period of the previous year. Analysts have noted that listed real estate developers have generally performed well this year, even as property consultants observed signs of mild softness in overall housing demand.
Lodha Developers, among India's largest real estate firms, continues to maintain a dominant presence in the residential markets of the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company has delivered 110 million sq ft of completed real estate and is currently developing more than 130 million sq ft across ongoing and planned projects.
Lodha Developers' performance during the recent quarter reflects the company's steady momentum amid fluctuating housing demand trends. With key environmental clearances in place and several launches lined up for the coming months, the developer remains confident of achieving its annual sales target. Its expanding portfolio and established presence across major urban centres continue to strengthen its position within India's real estate sector.
Source - PTI
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