Buyers would keep in mind that its operational replace, a pre-cursor to earnings, on 6 January already pointed to a stellar Q3 efficiency. Gross sales reserving at ₹2,608 crore improved 40% year-on-year (y-o-y) and was highest previously 12 quarters.
The inexpensive housing phase contributed 63% to its total gross sales and the steadiness got here from the luxurious phase. In Q3FY22, collections at ₹2,127 crore, up 44% y-o-y.
“The pre-sales numbers launched final week, roughly indicated that precise outcomes shall be sturdy. On the optimistic facet, debt is now not a fear and listed corporations proceed to profit from consolidation. However given the sharp rally within the inventory previously one 12 months, many of those positives are already factored in,” stated an analyst with a home brokerage home requesting anonymity.
Lodha’s internet debt declined to Rs9,896 crore down from Rs12,500 crore in 2QFY22. With that, the corporate has achieved its FY22 debt discount steerage, the administration stated. Additional, the price of debt eased from 12.3% within the March quarter to 11.1% on the finish of the December quarter. One foundation level is one-hundredth of a proportion level. Going forward, the curiosity price will proceed to observe a downward trajectory, the administration added.
Forward of its Q3 earnings announcement on Tuesday night, the inventory rose 5% on the NSE. Within the final 12 months, the Lodha inventory has rallied by 175% considerably beating the Nifty Realty index which rose 51% in the identical span.
“We anticipate Lodha to see respectable gross sales in Q4FY22 as nicely. However how gross sales pan out within the calendar 12 months 2022 stays to be seen as stamp responsibility minimize advantages will not be there anymore and value hikes might occur on elevated enter prices. Additionally, a excessive base of FY22, may make FY23 gross sales development look decrease,” added the analyst.
In the meantime, Lodha signed on six extra joint growth agreements (JDA) for round 4.8 million sq. ft with practically Rs10,000 crores gross growth worth (GDV), throughout the December quarter. “Since our IPO (April 21), we’ve got now added 11 JDA initiatives totalling for round 8.8 million sq. ft with GDV potential of round Rs14,600 crores, which supplies us important visibility of future development,” stated the corporate press launch.
Supply: Live Mint