Realty firm Lodha Developers Ltd remains bullish on growth potential in housing market as it plans to launch Rs 17,000 crore worth residential projects by March next to meet consumers demand.
In an interview with PTI, the company's Executive Director ( Finance) Sushil Kumar Modi noted that the high demand for residential properties, being seen post-Covid pandemic, would not only sustain but grow further, driven by the country's economic growth, income tax relief in the Budget and reduction in interest rates on home loans.
He sounded confident of achieving the target of selling Rs 21,000 crore worth of properties in the current fiscal year, a 19 per cent increase from the preceding year.
"We remain in track and are thereby remain confident of achieving Rs 21,000 crore of pre-sales guidance for the current fiscal year," Modi said.
He said the company has a huge launch pipeline to meet the target.
"At the beginning of this fiscal, we had estimated launch of Rs 18,000 crore worth projects but with an acquisition of five land parcels in June quarter, we now have clear visibility of launches at about Rs 25,000 crore for the entire 2025-26," Modi said.
The company has already launched Rs 8,000 crore worth of housing projects in the first quarter, which means that Rs 17,000 crore worth of homes will be offered for sales in the remaining three quarters of this fiscal.
"Strong launch pipeline combined with interest rate reduction on home loans and income tax relief will provide significant amount of tailwainds for our business and help achieve the pre-sales target," Modi said.
Already, Lodha Developers clocked a 10 per cent growth in its sales bookings during April-June period of this fiscal year to Rs 4,450 crore.
In Indian real estate, Modi mentioned that the launches and sales are skewed towards the second half of the fiscal year because of festival season, which generates an additional demand.
Meanwhile on the financial front, Lodha Developers on Saturday reported a 42 per cent increase in consolidated net profit to Rs 675.1 crore for the first quarter of this fiscal year.
Its net profit stood at Rs 475.9 crore in the year-ago period.
Total income rose to Rs 3,624.7 crore in the April-June period of the 2025-26 fiscal year from Rs 2,918.3 crore in the corresponding period of the preceding year.
Lodha Developers is one of the leading real estate companies in the country.
During the 2024-25 fiscal year, the company posted a net profit of Rs 2,766.6 crore on a total income of Rs 1,4169.8 crore.
Lodha Developers has a strong presence in the residential markets of Mumbai Metropolitan Region (MMR), Pune and Bengaluru.
The company has delivered 110 million sq ft of real estate and is developing more than 130 million sq ft under its ongoing and planned portfolio.
