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Macrotech Developers Ltd.
(LODHA)
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Rating:70Outperform
Price Target:
₹1,289.00
▲(12.64% Upside)
Action:Upgraded
Date:07/29/26
The score is primarily driven by strong trend strength (price well above major moving averages) and improved reported profitability and leverage. These positives are tempered by a significant deterioration in 2026 cash conversion (weak operating and free cash flow versus net income) and a relatively high P/E with a low dividend yield.
Positive Factors
Revenue and Margin Growth
Consistent revenue growth alongside a substantial improvement in net profit margin indicates stronger profitability and execution across the development portfolio. If sustained, this combination can enhance internal funding capacity and support earnings growth over the next several quarters.
Negative Factors
Weak Cash Conversion
The sharp decline in operating and free cash flow despite much higher net income signals materially weaker cash conversion in the latest year. This reduces near-term financial flexibility and may constrain the company’s ability to fund projects or absorb timing-related cash demands.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Growth
Consistent revenue growth alongside a substantial improvement in net profit margin indicates stronger profitability and execution across the development portfolio. If sustained, this combination can enhance internal funding capacity and support earnings growth over the next several quarters.
Read all positive factors
Macrotech Developers Ltd. (LODHA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.17T
Dividend Yield0.38%
Average Volume (3M)60.05K
Price to Earnings (P/E)27.0
Beta (1Y)2.20
Revenue Growth26.04%
EPS Growth38.93%
CountryIN
Employees5,783
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)41.31
Shares Outstanding999,223,270
10 Day Avg. Volume48,194
30 Day Avg. Volume60,050
Financial Highlights & Ratios
PEG Ratio0.82
Price to Book (P/B)2.90
Price to Sales (P/S)4.05
P/FCF Ratio1.31K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,400.00Price Target Upside22.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)42.19
Revenue Forecast (FY)₹197.22B
Macrotech Developers Ltd. Business Overview & Revenue Model
Company Description
Lodha Developers Limited, through its subsidiaries, engages in the development of real estate properties in India. The company is involved in the construction and development of residential, office, and retail properties, as well as leasing of ret...
How the Company Makes Money
The company primarily makes money from real estate development by selling residential and commercial units in its projects. Revenue is recognized from contracts with customers as construction progresses or upon transfer of control, depending on th...
Macrotech Developers Ltd. Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
74
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 181.81B | 166.76B | 137.79B | 103.16B | 94.70B | 92.33B |
| Gross Profit | 68.97B | 58.76B | 47.15B | 34.38B | 28.90B | 27.41B |
| EBITDA | 61.72B | 53.73B | 43.80B | 27.26B | 10.32B | 24.78B |
| Net Income | 41.26B | 34.28B | 27.64B | 15.49B | 4.87B | 12.02B |
Balance Sheet | ||||||
| Total Assets | 597.00B | 589.37B | 498.41B | 472.25B | 391.55B | 384.79B |
| Cash, Cash Equivalents and Short-Term Investments | 34.30B | 41.16B | 24.98B | 46.42B | 34.30B | 8.82B |
| Total Debt | 102.90B | 98.96B | 70.94B | 76.98B | 90.60B | 115.37B |
| Total Liabilities | 348.80B | 355.07B | 295.96B | 296.91B | 264.33B | 263.17B |
| Stockholders Equity | 246.80B | 232.86B | 201.78B | 174.69B | 126.63B | 121.05B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 517.00M | 10.91B | 23.43B | 26.60B | 19.54B |
| Operating Cash Flow | 0.00 | 3.02B | 15.66B | 25.12B | 27.50B | 19.98B |
| Investing Cash Flow | 0.00 | -9.47B | -904.00M | -29.47B | 17.78B | 11.39B |
| Financing Cash Flow | 0.00 | 24.14B | -25.06B | 9.51B | -37.05B | -28.88B |
Macrotech Developers Ltd. Technical Analysis
Neutral
1144.40
Price Trends
1207.86
Negative
1057.06
Positive
1020.43
Positive
Market Momentum
-10.44
Positive
34.22
Neutral
21.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LODHA, the sentiment is Neutral. The current price of 1144.4 is below the 20-day moving average (MA) of 1221.22, below the 50-day MA of 1207.86, and above the 200-day MA of 1020.43, indicating a neutral trend. The MACD of -10.44 indicates Positive momentum. The RSI at 34.22 is Neutral, neither overbought nor oversold. The STOCH value of 21.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:LODHA.
Macrotech Developers Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹649.03B | 24.07 | ― | 0.46% | 29.10% | 27.52% | |
76 Outperform | ₹1.62T | 35.89 | ― | 1.24% | -27.71% | -0.86% | |
70 Outperform | ₹1.17T | 27.04 | ― | 0.38% | 26.04% | 38.93% | |
64 Neutral | ₹132.32B | 56.44 | ― | 0.49% | 32.15% | 121.84% | |
62 Neutral | ₹562.99B | 32.90 | ― | 0.57% | 18.11% | 5.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹212.51B | 24.22 | ― | 0.31% | 4.81% | -7.86% |
* General Sector Average
IN:LODHA
Macrotech Developers Ltd.
1,113.00
-51.00
-4.38%
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638.90
-67.33
-9.53%
IN:DLF
DLF Limited
643.60
-105.20
-14.05%
IN:GODREJPROP
Godrej Properties Limited
1,745.00
-243.18
-12.23%
IN:OBEROIRLTY
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1,747.40
153.39
9.62%
IN:SOBHA
Sobha Limited
1,217.35
-345.79
-22.12%
Macrotech Developers Ltd. Corporate Events
Lodha Developers Sets NCLT-Directed Meetings on Key Merger Scheme
Sep 4, 2026
Lodha Developers Limited has called separate court-convened meetings of its equity shareholders and secured creditors, including holders of secured non-convertible debentures, for October 9, 2026. These meetings will be conducted via video confere...
Lodha Developers Sets October 9 Creditor and Shareholder Vote on Merger Scheme
Sep 4, 2026
Lodha Developers Limited has called court-convened meetings of its equity shareholders and secured creditors, including holders of secured non-convertible debentures, on October 9, 2026, to vote on a proposed merger by absorption. The meetings, or...
Macrotech Developers Shifts Focus to Audited Metrics in Quarterly Reporting
Jul 4, 2026
Macrotech Developers Ltd., formerly Lodha Developers, is a listed Indian real estate company focused on residential and commercial projects, with debt securities traded on BSE and NSE. The group has sought to differentiate itself through detailed ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.