Lodha Developers reports 28% rise in net profit in Q2 and forecasts exceeding annual profit

Lodha Developers Ltd, a Mumbai-based company, announced a significant year-on-year increase of 28.3% in its consolidated net profit, reaching INR 1013 crore. This strong first half allows the company to expect to exceed planned profit targets for the entire financial year, as stated in the report filed with the stock exchange on Friday.

The company's operating revenue also increased by 17.6% in the second quarter of the 2027 financial year, amounting to INR 4468 crore compared to INR 3798 crore in the same quarter last year.

For the first half of the financial year, Profit After Tax (PAT) grew by 63% year-on-year, reaching INR 2386 crore, which is higher than the previous year's figure.

Management Comments

Commenting on the results, Abhishek Lodha, Managing Director of Lodha, noted that this growth demonstrates the resilience and high profitability of the business. Based on the strong first-half performance, he expressed confidence that the company will easily surpass its annual profit forecast.

He also reported that preliminary sales reached INR 5037 crore, accounting for over 40% of the company's initial annual plan for the first half. Furthermore, he mentioned the successful launch of a project in North Bengaluru during this quarter.

Lodha emphasized that this market reaction confirms the high demand for the quality Lodha brand and helps dispel concerns regarding the impact of AI-induced disruptions on segments other than affordable housing.

The company plans to launch a project in the National Capital Region (NCR) during the festive season and has plans for further launches in new locations. Lodha also believes that the rental business can grow exponentially due to the construction of data centers and AI infrastructure. He forecasts a tenfold increase in annuity income, from the current INR 300 crore to INR 3000 crore by the 2032 financial year.

In response to concerns about rising interest rates, Lodha stated that they are unlikely to have a direct impact on housing demand in the segments served by the company, although the company continues to closely monitor secondary risks. Abhishek Lodha added that the company remains concerned about the ongoing conflict in the Middle East and is carefully tracking its geopolitical and macroeconomic consequences.

As of September 30, 2026, the company's net debt stood at INR 5279 crore, and the net debt to equity ratio remained stable at 0.2x, significantly below the set limit of 0.5x.

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Max Healthcare's second-quarter profit grew by 10% to 448 crore rupees due to increased bed occupancy

Max Healthcare Institute Ltd reported a 10.34% increase in net profit after tax for the network to 448 crore rupees for the September quarter of fiscal year 27. Meanwhile, the network's gross revenue increased by 20%, reaching 3,219 crore rupees, driven by higher bed occupancy and demand from international patients.

Previously, during the same period last year, the company reported a net profit after tax of 406 crore rupees. The network's gross revenue was 3,219 crore rupees, reflecting a 20% growth, mainly due to an increase in occupied bed days (OBDs).

Revenue from international patients reached 307 crore rupees, showing a 33% increase and accounting for about 10% of the hospital's total revenue. Free cash flow from operating activities amounted to 500 crore rupees compared to 291 crore rupees in the second quarter of fiscal year 26. Of this amount, 292 crore rupees was allocated to current expansion plans, and 195 crore rupees to dividends.

During the quarter, the company's board of directors approved capital expenditures of 415 crore rupees to add 209 beds as part of modernization projects for existing hospitals to increase capacity. These plans include 85 beds in MSSH, Noida, and 60 beds in MSSH, Vaishali. Additionally, BLK Max will add 64 beds along with a multi-level parking tower to support the increased flow of patients and visitors.

For the half-year ending in September, the total bed capacity reached 6,184, representing a 20% increase compared to the previous year. The network's gross revenue was 6,200 crore rupees, which is 18% more than in the corresponding period last fiscal year, also caused by an increase in OBDs. The network's net profit reached 805 crore rupees compared to 750 crore rupees in the corresponding period last fiscal year.

Abhay Soi, Chairman and Managing Director of Max Healthcare Institute Ltd, noted that the occupancy rate of newly added beds is growing faster, indicating high demand and absorption of additional capacity. He also emphasized that medical tourism is showing strong growth, supported by the price competitiveness of medical services in India, strengthening the country's position as a leading global healthcare destination.

business-standard.comOctober 29, 19:08

Brigade Group's profit rose by 29% in the second quarter to 219 crore rupees, while revenue decreased by 12.6%

Brigade Enterprises Ltd, based in Bangalore, reported a rise in net profit of 28.8% to 219 crore rupees in the second quarter of fiscal year 27 (Q2FY27) compared to the same period last year. This growth is attributed to stable demand that aligns with the launch of new projects.

However, the company's revenue, which focuses on South India, declined by 12.6% year-on-year (Y-o-Y), reaching 1,250 crore rupees compared to 1,430 crore rupees in the corresponding quarter of the previous year. This was reported in the stock exchange filing published on Thursday with results for the September quarter.

Earnings Before Interest, Taxes, Depreciation, and Amortization (Ebitda) increased by 27.5% in Q2FY27, reaching 478 crore rupees, compared to 375 crore rupees in the corresponding quarter of the previous fiscal year.

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Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, noted that residential segments continue to drive growth, supported by sustained demand and a strong project portfolio. She emphasized that customers are increasingly prioritizing quality, location, larger homes, and improved amenities, and the company continues to observe steady demand in both mid-range and premium segments. Furthermore, the festive season boosted customer engagement in the residential and retail businesses.

The group stated that project launch rates are gaining momentum, with property sales for the quarter reaching 1,827 crore rupees across a volume of 1.3 million square feet (msf). Shankar added that the company is prepared to sustain this momentum and ensure stable long-term growth. Brigade Enterprises shares fell by 1.39% and closed at 531 rupees on the BSE on Thursday.

During the quarter, the company launched projects totaling 2.4 msf with a Gross Development Value (GDV) of approximately 3,000 crore rupees. Brigade's portfolio generated revenue of 760 crore rupees, with an Ebitda of 175 crore rupees, which is 59% higher than in Q2FY26, at a margin of 23%.

Revenue from the rental business amounted to 329 crore rupees, with an Ebitda of 242 crore rupees, which is 9% higher than in Q2FY26, with a margin of 74%. As of September 2026, occupancy reached 90%. In the hospitality segment, which includes hotels the company builds for brand management, revenue in Q2FY27 was 161 crore rupees, and Ebitda was 59 crore rupees, which is 41% higher than in Q2FY26, with a margin of 37%.