Lodha Developers Q1 FY27 Results and NCD Security Certificates

Key Quantitative Figures and Details

Board Meeting and Financial Results

• Board meeting held on July 24, 2026, from 5:30 PM to 6:30 PM IST
• Approved unaudited financial results (consolidated and standalone) for quarter ended June 30, 2026
• Results reviewed by Audit Committee and approved by Board of Directors
• Statutory auditors carried out limited review and expressed unmodified conclusion

ESOP Allotment

• During quarter ended June 30, 2026, company allotted 179,303 equity shares
• Face value: ₹10 each
• Allotment upon exercise of options under Lodha Developers Limited - Employee Stock Option Schemes

Subsidiary Merger Scheme

• Scheme of merger by absorption of two listed subsidiaries filed with Hon'ble NCLT, Mumbai bench on June 11, 2026
• Subsidiaries: National Standard (India) Limited and Roselabs Finance Limited
• Standalone financial results prepared without giving effect to the scheme pending NCLT approval

Listed Secured NCDs

• Total listed secured Non-Convertible Debentures outstanding as on June 30, 2026: ₹28,036 million
• Security coverage:
• ₹19,536 million NCDs: Security cover more than requisite 1.5 times
• ₹3,500 million NCDs: 1.5 times of project land & 1.2 times of project receivables
• ₹5,000 million NCDs: 2.25 times of project land

Auditor Security Cover Certificates

Three separate auditor certificates issued for different NCD series:

1. ₹15,000 million NCDs (150,000 debentures of ₹1 lakh each)

• Debenture Trustee: Catalyst Trusteeship Limited
• Security cover ratio: 0.89 (book value), 3.09 (market value)

2. ₹2,500 million NCDs (25,000 debentures of ₹1 lakh each)

• Debenture Trustee: Axis Trustee Services Limited
• Security cover ratio: Not explicitly quantified in available data

3. ₹13,000 million NCDs (130,000 debentures of ₹1 lakh each)

• Debenture Trustee: IDBI Trusteeship Services Limited
• Security cover ratio: Not explicitly quantified in available data

Financial Ratios Definitions Provided

Company provided detailed definitions for 13 financial ratios including:

• Current Ratio, Debt Equity Ratio, Net Debt Equity Ratio
• Debt Service Coverage Ratio, Interest Service Coverage Ratio
• Operating Margin %, Net Profit Margin %
• Various turnover ratios (Debtors, Inventory, Bad Debt to Receivable)

Segment Information

• Company operates in only one reportable segment: Real estate development
• Operations confined to India

Basis of Preparation

• Figures for quarter ended March 31, 2026 are balancing figures between audited full year results and published YTD figures up to Q3 December 2025
• Corresponding previous year figures regrouped/reclassified for comparability

Entities Included in Consolidated Results

Annexure 1 lists 26 entities included in consolidated results:

• 21 subsidiaries
• 2 joint ventures
• 3 other entities