Lodha Developers Shares Plunge 7% After Rs 1,379-Crore Block Deal

Shares of real estate company, Lodha Developers tanked nearly 7% in July 23 after a block deal worth Rs 1,379 crore hit the counter.

As many as 99.51 lakh shares, representing a 1% stake in the real estate developed changed hands in the block deal. The transaction was executed at an average price of ₹1,386 per share, implying a near 4% discount to the last closing price.

The parties involved in the trade could not be immediately identified, however, CNBC-TV18 had reported that an early investor in the company was looking to offload a 1% stake.  The total size of the transaction was estimated at $165 million in a trade that marked a complete exit for the investor, the report stated.

The block deal also tipped off a spike in trading volumes in the counter. As many as two crore shares of Lodha Developers already changed hands, sharply higher than the one-month daily traded average of nine lakh shares.

As for Q1, Macrotech Developers kicked off the quarter with steady momentum, clocking a 10% year-on-year rise in pre-sales to ₹4,450 crore, while collections grew 7% to ₹2,880 crore.

Real estate stocks took a hit in Tuesday’s trade, with all constituents of the Nifty Realty index slipping 2% in the red. The worst hit was Lodha Developers and Oberoi Realty, followed by Brigade Enterprises, Prestige Estates, Raymond Realty, and Godrej Properties, each shed over 2%.

Despite the market pressure, Lodha remains confident in its growth story. The company posted ₹4,450 crore in pre-sales for the quarter, a 10% year-on-year increase, marking its fifth straight quarter of clocking ₹4,000 crore or more in sales. Collections rose 7% to ₹2,880 crore. “This consistency underscores the predictability of our diversified business model,” MD & CEO Abhishek Lodha had noted earlier. The Mumbai-based real estate major is expanding its footprint, adding five new projects across Mumbai, Pune, and Bengaluru. Looking ahead, the developer is targeting ₹21,000 crore in pre-sales for FY26, a 20% jump over the previous year, with Mumbai expected to do the heavy lifting.

It’s also eyeing a fresh gross development value (GDV) of ₹25,000 crore, on top of the ₹22,700 crore added this quarter via five new projects across Mumbai, Pune, and Bengaluru. Even with stepped-up investments in land and projects, net debt remained under control at ₹5,080 crore, staying comfortably below the internal ceiling of 0.5x net debt-to-equity.