Lodha Developers misses FY26 pre-sales guidance due to Iran war

Bengaluru: Despite 16% YoY increase in pre-sales, Lodha Developers Ltd falls short of meeting 2025-26 pre-sales target ₹21,000 crore due to the impact of the ongoing Iran war.

Sales bookings of the Mumbai-based company increased ₹20,530 crore in FY26 ₹17,630 crore in the previous year, the company said in its regulatory filing on Tuesday.

There was a certain delay in sales in March. Iran war caused pre-sales to increase ₹470 crore below guidance, the company said in its January-March quarter (Q4FY26) update.

Lodha Developers reported a 23% year-on-year increase in pre-sales. ₹5,890 crore in Q26, which was a seasonally strong quarter for real estate companies.

Customer collections for Q4FY26: ₹5,230 crore, up 18% year-on-year, driven by increased construction activities. The company’s collections for Fiscal Year 26 were: ₹15,160 crore, up 5% year on year.

The company said it has added a project with gross development value (GDV) in the Mumbai Metropolitan Region (MMR). ₹1,300 crore in the fourth quarter.

In FY26, Lodha Developers added 12 projects in key markets including MMR, Pune, Bengaluru and National Capital Region (NCR) with a total GDV of approx. ₹60,000 crore. Net debt decreased ₹ 800 crore ₹5370 crore was achieved in the quarter, driven by strong collections, the company said.

Lodha Developers is among India’s top four best-selling real estate developers Godrej Properties Ltd, DLF Ltd and Prestige Estates Projects Ltd.

While the overall housing sector is showing some signs of stalling, the top four developers continue to report good sales.

According to sales guides, they targeted crosses in bulk ₹1 trillion home sales in FY26, the strongest year ever for branded players. However, the Iran war may cause a softening in developers’ sales in March.

Crisil Ratings in March said the residential real estate sector appears to have entered a calibrated growth phase after a strong post-pandemic upswing where it achieved a compound annual growth rate (CAGR) of 26% in FY22-25.

However, the rating agency noted that stable operating performance supported by healthy collections translated into controlled debt levels and supported developers’ credit profiles.

To be sure, home sales in India’s top cities fell 13% year-on-year to 98,761 units in the January-March quarter 2026, falling below the 100,000 level for the first time in 18 quarters. According to a report prepared by real estate analysis platform PropEquity, the industry reported sales of 113,602 units in the corresponding period of 2025.