NSE/LODHA

LODHAMacrotech Developers (Lodha)

Real Estate · NSE

₹872.55-0.11%

52-wk low52-WEEK RANGE52-wk high

₹677+28.9% from low ·-42.4% from high₹1,516

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

LODHA-21.48% · 1Y

Range high ₹1,531Range low ₹650.8Latest ₹872.55252 bars · daily-close · NSE bhavcopy + 10Y history

Real EstateReal Estate - DevelopmentLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -32.5% — underperformer
· Below 200-DMA (-21.5%) — downtrend

Valuation

Medium

Valuation close to the sector median.

· P/E 25.6 vs sector median 33.4 — 23% cheaper
· P/B 4.02 above sector median

Growth

Medium

Steady but not standout growth.

· Revenue YoY +14.4%
· 3Y revenue CAGR +14.3%

Profitability

High

Showing good signs of profitability & efficiency.

· ROE 16.9%
· Net margin 20.1% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(54/100)

Durability

72/100

Reasonable financial health; watch the weaker inputs.

Show 4 drivers

Piotroski F-score7/9 (78pt)
Altman Z" score1.68 (57pt)
Debt/Equity0.45 (89pt)
ROE16.9% (68pt)

Valuation

59/100

Fairly priced — not a bargain, not stretched.

Show 4 drivers

P/E vs sector (25.6 / 33.4)77% (91pt)
P/B4.02 (40pt)
Dividend yield0.49% (12pt)
EV/EBITDA19.2 (40pt)

Momentum

32/100

Negative momentum — trend and technicals stacked bearish.

Show 5 drivers

52w change-32.5% (0pt)
DMA-trend alignmentdown (25pt)
RSI (14)59.5 (96pt)
Price vs 200-DMA-21.8% (18pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)25.63

UNDERVALUED

CheapestP/E 25.6 at 27th %ile of sector — cheaper than 73% of peers.Most expensive

P/B4.02

OVERVALUED

CheapestP/B 4.02 at 91th %ile of sector.Most expensive

EV/EBITDA19.20

OVERVALUED

Monthly seasonality

Avg monthly return over 5 years · historical — not a forecast

Best: Jun +9.91% · Worst: Feb -5.63%

Jan

-3.7%

40% win

Feb

-5.6%

40% win

Mar

-3.0%

40% win

Apr

+7.7%

60% win

May

+7.6%

80% win

Jun

+9.9%

Monthly return distribution

Distribution of 60 monthly returns

Mean

+2.53%

Median

+2.81%

Std dev

12.02%

Best

+33.2%

Worst

-31.5%

% positive

53%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 3

Strong net margin (20.1%)
High margin indicates pricing power + operating efficiency
Financial quality score 7/9
Piotroski ≥7 historically associated with outperformance
Top quartile ROE in Real Estate
Rank 1 of 11 peers

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 1

45% upside to consensus target (₹1238)
18 analysts see fair value materially higher

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

-0.1%

+5.6%

+0.7%

-20.0%

-23.4%

-23.0%

+26.3%

+30.3%

10Y

—

Fundamentals

VALUATION

Market cap

₹85,562 Cr

P/E (TTM)

25.6

P/E (fwd)

20.8

next 12m

P/B

4.02

EV/EBITDA

19.2

Book value

₹213.10

per share

PROFITABILITY · QUALITY

ROE

16.9%

ROCE

—

Net margin

20.1%

Op margin

28.2%

Gross margin

41.2%

D/E

0.45

GROWTH · MARKET

Rev YoY

+14.4%

Profit YoY

+1.2%

Div yield

0.49%

Payout

12.7%

52w change

-32.5%

Beta

0.38

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Trading at -23.2% vs sector median P/EP/E 25.6 vs Real Estate median 33.4 — relative value on earnings
+Forward P/E materially below trailing (20.8x vs 25.6x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Strong operating margin (28.2%)Meaningful pricing power or cost discipline — above many Indian companies
+3-year profit CAGR of 32.0%Consistently compounding earnings — the Buffett playbook
++45% upside to analyst consensus target18 analysts average target of ₹1238 vs current ₹857

CONS · 1

−Down -32.5% over the last yearSignificant underperformance — could be opportunity or warning depending on fundamentals

Sector-relative context

Real Estate · 11 peers

P/E (TTM)

This stock

25.63

Sector median

33.37

Rank 3/11 (82th %ile)

ROE

This stock

16.9%

Sector median

9.5%

Rank 11/11 (9th %ile)

P/B

This stock

4.02

Sector median

3.06

Rank 10/11 (18th %ile)

Quality score · Piotroski F-score

7 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✗Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.68

Z″ = 1.68 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.087	×6.56	0.573
Retained Earnings / Total Assets (B)	0.120	×3.26	0.390
EBIT / Total Assets (C)	0.083	×6.72	0.557
Book Equity / Total Liabilities (D)	0.152	×1.05	0.160

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

18 analysts · STRONG_BUY

Target mean

₹1238.06

Target high

₹1500.00

Target low

₹915.00

Upside vs today

+44.5%

Street consensus target is +44.5% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Real Estate - Development

Employees

5,359

Shares out

99.9

Revenue (TTM)

₹16,345 Cr

EBITDA

₹4,866 Cr

Total debt

₹9,628 Cr

Cash

₹3,360 Cr

Net debt

₹6,269 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	2,626	4,083	4,115	3,492	4,673
Operating profit	638	1,239	1,259	919	1,318
OPM %	24.3%	30.3%	30.6%	26.3%	28.2%
Interest	137

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	9,147	9,335	10,198	13,670
Operating profit	3,191	1,985	4,174	3,832
OPM %	34.9%	21.3%	40.9%	28.0%
Interest	1,935	1,328	998	637

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
LODHATHIS Lodha Developers Limited	₹872.55	-32.5%	85,562	25.6	4.02	16.9%	0.45	+14.4%
DLF DLF Limited	₹601.75	-11.0%	1,47,628	33.4	3.43	10.3%	0.04	+32.2%
PHOENIXLTD The Phoenix Mills Limited	₹1,792.2	+11.4%	63,262	58.1	5.86	—	0.34	-4.1%
OBEROIRLTY Oberoi Realty Limited	₹1,710.6	+3.3%	61,761	27.6	3.69	—	0.18	+17.6%
PRESTIGE Prestige Estates Projects Limited	₹1,356.8	+7.0%	58,398	60.6	3.69	6.3%	0.89	-6.7%
GODREJPROP Godrej Properties Limited	₹1,758.8	-14.0%	52,582	33.2	2.87	8.7%	0.88	+62.2%
BRIGADE Brigade Enterprises Limited	₹762.25	-24.4%	18,428	24.6	2.84	11.5%	0.76	+3.6%
SOBHA Sobha Limited	₹1,332.2	+7.2%	14,104	99.0	3.06	—	0.23	+102.7%
MAHLIFE Mahindra Lifespace Developers Limited	₹325.15	-0.3%	6,800	20.7	1.81	—	0.10	+75.5%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	12.60	9.56	-24.1%
-2q	5.80	7.67	+32.2%
-3q	8.40	6.74	-19.8%
-4q	10.60	9.22	-13.0%

Date	Amount
2025-08-22	₹4.25
2024-08-16	₹2.25
2023-09-08	₹1.00

Date	Ratio
2023-05-31	2:1
2023-05-26	2:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	482	482	995	998
Reserves	4,608	5,153	6,606	9,160
Borrowings	11,537	9,060	7,698	7,094
Other liabilities	93	—	—	—
Total liabilities	38,479	39,155	47,225	49,841
Fixed assets	1,119	1,143	571	617
Investments	133	189	213	355
Other assets	0	0	72	0
Total assets	38,479	39,155	47,225	49,841

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	1,998	2,750	2,512	1,566
CF Investing	1,139	1,778	-2,947	-90
CF Financing	-2,888	-3,706	951	-2,506
Net cash flow	250	834	516	-893
Free cash flow	1,954	2,660	2,343	1,091

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	28.0%	40.9%	21.3%	34.9%
Net margin %	20.2%	15.2%	5.2%	13.1%
ROE %	31.1%	23.4%	9.1%	23.6%
ROCE %	25.8%	20.2%	11.4%	22.0%
Debt / Equity	0.70	1.01	1.61	2.27
Dividend payout %	8%	6%	—	—
Interest coverage	6.6×	3.0×	1.3×	1.9×
Revenue growth YoY	+34.1%	+9.2%	+2.1%	—
Profit growth YoY	+78.4%	+218.3%	-59.5%	—

LODHAMacrotech Developers (Lodha)

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Real Estate

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Peer comparison · Real Estate

Ratios