Lodha Developers' FY26 Results and Bangalore Launches: Notes for Buyers
Big annual numbers from a developer are reassuring, but they do not pick a flat for a buyer. When Lodha Developers announced its FY26 results on 27 April 2026, it also spoke of new launches, Bangalore among them. What follows separates what the results show from what a home buyer still has to find out alone.
What the Results Show
For the twelve months ended March 2026, the company reported the following:
| Item | Amount | Compared with FY25 |
|---|---|---|
| Homes sold (pre-sales) | Rs. 20,530 Crore | 16% higher |
| Cash from customers | Rs. 15,160 Crore | 5% higher |
| Operating revenue | Rs. 16,676 Crore | 21% higher |
| Net profit | Rs. 3,428 Crore | 24% higher |
Its last quarter, January to March 2026, set a record: Rs. 5,890 Crore of pre-sales (23% more year on year) and roughly Rs. 1,008 Crore of profit. Debt after cash was roughly Rs. 5,370 Crore on 31 March, which is 0.23 times shareholders' equity. A final dividend of Rs. 4.25 a share was proposed.
Pre-sales are agreements to buy, collections are payments received, and revenue is booked when a building is complete. Each can move differently in a given year, which is why a rise in one does not guarantee a rise in the others.
Twelve projects joined the pipeline in FY26 with around Rs. 60,000 Crore of potential sales, split between the Mumbai region, Pune, Bangalore and NCR. Five land parcels were bought in the final quarter of calendar 2025. The FY27 pre-sales goal is Rs. 24,000 Crore, roughly one-sixth higher, and the first NCR project is due in the second half.
Lodha's Bangalore Record
Some write-ups treat FY26 as a debut here, but Lodha Developers (called Macrotech Developers earlier, and headquartered in Mumbai) started selling here in 2023. Karnataka RERA shows these registrations:
| Project | Where | Registration | Scale |
|---|---|---|---|
| Lodha Mirabelle | Thanisandra, by Manyata Tech Park | 13 October 2023, then 23 April 2025 | Two phases |
| Lodha Azur | Bannerghatta Road side | Three, from 22 March 2024 to 20 September 2025 | 576 homes, five towers |
| Lodha Haven | Hosa Road | May 2025 (28th) and March 2026 (26th) | 452 homes, six towers |
| Lodha Elanza | Sarjapur Road side | 19 December 2025 | 698 homes, six towers |
| Fiorana in Lodha Beaumont Estate | Sadahalli | 20 July 2026 | 540 homes, five towers |
All five projects are still unfinished. Registered completion dates begin with June 2028 for Mirabelle and end with March 2032 for Beaumont Estate.
Sales So Far at These Sites
Returns for 30 June 2026 report 514 bookings out of 576 homes at Azur. They report 205 of 304 at the first phase of Haven and 297 of 698 at Elanza, six months or so after it registered.
The latest phase has the most choice. Haven's second phase, registered in March 2026, showed only 13 bookings in 148 homes. Buyers wanting more floors and facings to pick from can find them there and must wait longer for possession.
Where Results End and Due Diligence Begins
A seller collecting upwards of Rs. 15,000 Crore each year, with little net debt, can fund construction, and unfinished buildings are the most damaging risk for buyers. Quarterly disclosure as a listed company adds transparency.
Price is a different matter. Bangalore launches here are premium, and most three-bedroom homes cost more than Rs. 2 Crore. Recent registered sales nearby show what a flat is worth, and the company's totals do not.
Delivery history is also local. Mumbai and Pune projects have been handed over in numbers, but towers here are still being built, so buyers depend on the registered schedule and on what they see on site. With completion dates from 2028 to 2032 for homes booked this year, plan the budget for rent and instalments to overlap for longer than expected.
Questions for the Sales Team
Bring a short list to the first meeting. Ask which RERA registration covers the tower, what the latest quarterly update says about construction, and how the price is built up. Request the draft agreement early, since reading it takes time and the delay clauses are easy to skim past.
Keep the answers in writing. If what the sales team says about completion date or carpet area differs from the portal, the portal figure is the one to rely on.
Items to Verify
Treat Lodha like any other developer, and go through these steps:
- Identify the RERA registration and handover date for the particular tower.
- Get the unit's carpet area and divide the price by it.
- Read the most recent progress report filed on the state portal.
- Ask for a cost sheet with each charge named separately: GST, premiums, parking, maintenance.
- Study the possession and delay terms in the sale agreement.
- Look at one of the company's earlier sites in the city.
- Make payments to the RERA project account only.
Availability varies with the tower and floor. Our team can share what is on offer in any of these projects along with the latest prices.
