Macrotech Developers Ltd is primarily engaged in the business of real estate development. It is among the **largest real estate developers in terms of presales and development pipeline in India**, with a presence in MMR (Mumbai Metropolitan Region), Pune, and an entry into the Bengaluru market in November 2023. Established in the **1980s**, MDL is among India's largest real estate developers with over **85 million square feet (msf) of developed properties**, mostly within the Mumbai Metropolitan Region (MMR).
The company operates under the renowned **Lodha brand** and has established itself as a market leader in the Indian real estate sector. The name of the Company was subsequently changed from Lodha Developers Limited to Macrotech Developers Limited effective on May 24, 2019. However, in a significant development, Macrotech Developers has officially changed its name back to **Lodha Developers Limited**, effective **June 16, 2025**, following approval from the Ministry of Corporate Affairs.
As of FY24, MDL has about **40 operating projects** across luxury, premium, mid-income, and affordable segments. The company has strategically positioned itself to capture demand across multiple income segments, with roughly **60% of revenue coming from affordable and mid-income segments**.
Macrotech's geographical presence spans key metropolitan markets in India. Lodha Group is among the largest real estate developers in India and has been involved in the real estate business since the 1980s. As an Indian multinational real estate company headquartered in Mumbai, India, the Company has developed residential & commercial properties in Mumbai, Thane, Hyderabad, Pune, and London.
The company delivered exceptional financial performance in FY25. It reported a remarkable **71% year-on-year (YoY) profit growth** and achieved **record pre-sales of ₹176.3 billion**, driven by strong demand and strategic expansion across key markets, including Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.
**Key Financial Metrics FY25:**
* Revenue: **₹137.8 billion** (up from ₹103.2 billion in FY24)
* Net Profit: **₹27.7 billion** (up from ₹16.2 billion in FY24)
* Pre-sales: **₹176 billion**, exceeding guidance.
* Profit Margin: **20%** (up from 15% in FY24).
Macrotech Developers reported a **38.49% jump in consolidated net profit to ₹921.7 Crore** in Q4 FY25 as against ₹665.5 Crore posted in Q4 FY24. The quarterly revenue performance showed steady growth, with revenue jumping **8.24%** since the last year same period to **₹4,420.30 Crore** in Q4 FY2024-2025.
The company maintained strong operational efficiency, with **EBITDA margins increasing to 28.9% from 26.1%**, reflecting improved cost efficiencies and greater realizations per unit.
The market capitalization of Lodha Developers Ltd (LODHA) is **₹1,36,622.22 Crore** as of July 4, 2025. The stock has shown significant performance over the years, with Macrotech Developers Ltd share price moving up by **206.07% on BSE over the last three years**.
**Current Valuation Metrics:**
* PE Ratio: 49.42
* Book Value: ₹202
* 52-week High: ₹1595
* 52-week Low: ₹1035.15
The company has been actively expanding its geographical footprint and market presence. Its micro-market-led super-market strategy enabled it to deliver **₹25 billion of Presales in the Western Suburbs of MMR**, registering 140% growth on a YoY basis. Its new Business Development for FY25 across MMR, Pune, and Bengaluru stands at **₹237 billion of GDV (10 projects)**, thus surpassing its full-year guidance.
In Pune, the company has significantly strengthened its position with two more projects with a **GDV of ₹43 billion**. With this, the company now has nine locations across Pune. Similarly, it has entered FY26 with five locations in Bengaluru, setting the stage for its growth phase.
Macrotech has demonstrated strong financial discipline and debt management capabilities. Despite investments in business development in this quarter, the company further reduced its net debt by **₹3.1 billion to ₹39.9 billion (0.2x net debt/equity)**, which is well below its ceiling of 0.5x net debt/equity.
The company's cash flow generation remains robust, with the strongest ever collections performance of **₹44.4 billion**, showcasing the strong execution capability of the organization.
During the financial year 2020-21, the Company completed an Initial Public Offering (IPO), comprising a fresh issue of 5,14,40,328 equity shares having a face value of ₹10, which got listed on BSE Limited on April 19, 2021. The company maintains active listings on both NSE and BSE under the symbol LODHA.
Looking ahead, Macrotech Developers has set ambitious targets for the coming year. The company plans to invest in land and aims for **₹210 billion in pre-sales for FY26**. The management remains confident about sustained growth, driven by strong brand recognition and strategic market positioning across key urban centers in India.
The company's focus on affordable and mid-income housing, combined with its expansion into new geographies like Bengaluru, positions it well to capitalize on India's growing urbanization and housing demand. With a strong balance sheet, improving profit margins, and consistent execution capabilities, Macrotech Developers continues to be a significant player in India's real estate development landscape.
