Kirloskar Industries' second-quarter profit grew by 5% to 105 crore rupees, revenue increased by 17%

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.

Indian Overseas Bank (IOB), based in Chennai, reported a 56% increase in net profit during the second quarter of the fiscal year 27, reaching 1963 crore rupees. This growth compared to 1259 crore rupees in the quarter from July to September of fiscal year 26, and is attributed to increased interest income and improved asset quality.

The bank's total income for the reporting period increased by 13%, amounting to 10,428 crore rupees. IOB's interest income in Q2 FY27 rose by 17% to 9,201 crore rupees, compared to 7,851 crore rupees in the same period last year.

Ajay Kumar Srivastava, Managing Director and CEO of IOB, noted that net interest income grew by 26% during the quarter. He also highlighted the good asset quality and low write-off levels in the system.

Net Interest Income (NII) for the quarter increased by 26.4% to 3,867 crore rupees, compared to 3,059.3 crore rupees a year earlier. Srivastava added that write-offs remained under control at 240 crore rupees, and the provisioning ratio was only 0.07%, which is one of the lowest in the banking system, and the bank consistently maintains this figure.

The Non-Performing Asset (NPA) ratio decreased by 64 basis points (bps) year-on-year (Y-o-Y) to 1.19%, while the Net NPA ratio fell by 12 bps year-on-year to 0.16%. Credit costs also decreased by 1 bp year-on-year to 0.17%. During the quarter, 647 crore rupees were recovered against NPAs, which is 2.95 times higher than quarterly write-offs. The Capital to Risk-Weighted Assets Ratio (CRAR) increased by 66 bps year-on-year to 18.60%. Return on Assets (RoA) improved to 1.53% from 1.20% last year, which is 33 bps higher. Return on Equity (RoE) grew to 24.58% from 19.95% last year, an increase of 463 bps.

The bank's total deposits increased by 20.16% to 4.07 trillion rupees from 3.39 trillion rupees. Current Account Savings Account (CASA) deposits also grew by 20.73% year-on-year to 1.65 trillion rupees, and the internal CASA ratio improved by 13 bps year-on-year to 41.14%. The volume of loans disbursed in Q2 FY27 reached 3.45 trillion rupees, showing a growth of 24.35% compared to 2.77 trillion rupees last year.

Srivastava stated that, according to preliminary estimates, IOB will require additional provisioning of about 2,600–2,800 crore rupees under Expected Credit Losses (ECL). He clarified that the bank has already created ECL provisions of about 2,700 crore rupees, meaning that 100% of the required amount is already secured in the balance sheet as projected ECL reserves.

Furthermore, he mentioned the successful performance of the gold loan portfolio and the development of several programs to meet the needs of various segments of society with competitive interest rates. Srivastava added that the jewelry loan portfolio is very sound, with outstanding loans amounting to nearly 1.36 trillion rupees, and shows no signs of stress. The bank maintains a Loan-to-Value (LTV) ratio of about 60–62%, which adequately accounts for price fluctuations.