LODHA

Macrotech Developers delivered record pre-sales of ₹4,200 crore in Q1 FY26, up 35% YoY. Strong housing demand in Mumbai and Pune continues to drive performance. The company’s debt reduction and focus on premium launches enhance its balance sheet. Margins remain strong at 28%. At ~25x FY26 EPS, valuations are justified given growth visibility. Lodha remains a strong bet in the real estate upcycle.