Lodha Developers

July 3 (Reuters) - Lodha Developers Ltd LODH.NS:

• LODHA DEVELOPERS - SAYS 30 ACRES LAND DEAL IS ROUTINE BUSINESS ACTIVITY

Source text: ID:nBSE5nqTjX

Further company coverage: LODH.NS

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** Shares of India's Lodha Developers LODH.NS rise 1.55% to 854.1 rupees

** Real estate developer posted a net profit of 10.08 billion rupees ($107.00 million) in Q4 vs 9.217 billion rupees a year ago

** Jefferies ("buy"; TP:1,215 rupees) says steady execution and 16% pre-sales growth were key revenue drivers, adding that lease income buildout will depend on upcoming data centre announcements, which could act as a positive trigger

** JPMorgan ("neutral"; TP:1,000 rupees) says results are largely in line, flags downside risks from a prolonged Middle East conflict due to cost pressures, expects the stock to remain range-bound

** LODH rated "buy" on avg by 18 analysts; median TP 1,325 rupees- LSEG data

** YTD stock down 20.79%

($1 = 94.2050 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

April 24 (Reuters) - Lodha Developers Ltd LODH.NS:

• LODHA DEVELOPERS MARCH-QUARTER CONSOL NET PROFIT 10.08 BILLION RUPEES

• LODHA DEVELOPERS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 47.14 BILLION RUPEES

• LODHA DEVELOPERS LTD - DIVIDEND OF 4.25 RUPEES PER SHARE

Source text: ID:nBSE9y2WHq

Further company coverage: LODH.NS

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April 7 (Reuters) - Lodha Developers Ltd LODH.NS:

• Q4 PRE-SALES UP 23% YOY

• Q4 COLLECTIONS UP 18% YOY

Source text: ID:nNSE9MVhf0

Further company coverage: LODH.NS

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Jan 20 (Reuters) - Lodha Developers Ltd LODH.NS:

• LODHA DEVELOPERS LTD - SIGNS MOU FOR 1 TRLN RUPEES INVESTMENT IN DATA CENTRE

• LODHA DEVELOPERS - SIGNS MOU WITH MAHARASHTRA GOVERNMENT FOR ADDITIONAL 1 TRLN RUPEES INVESTMENT IN DATA CENTRE

Source text: ID:nBSE6K6Brh

Further company coverage: LODH.NS

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** Shares of Lodha Developers LODH.NS rise as much as 2.3% to 1,120 rupees; currently up 0.9%

** Real estate developer says its Q3 pre-sales rise 25% to 56.2 billion rupees ($624.9 million) compared to last year

** Jefferies ("Buy", PT: 1,120 rupees) says Lodha has achieved 70% of FY26E pre-sales guidance of 210 billion rupees; implies need for acceleration to 32% sales growth in Q4

** Co's collections fall 17% to 35.6 billion rupees in Q3, capping gains

** Nomura ("Buy"; PT: 1,450 rupees) says annual operating cash flow may be lower than co's guidance; not cause for concern as net debt/equity remains below 0.5x

** Stock rated "Buy" on average by 17 analysts; median PT 1,473 rupees - data compiled by LSEG

** Stock fell 23.6% in 2025

($1 = 89.9350 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

Jan 6 (Reuters) - Lodha Developers Ltd LODH.NS:

• Q3 PRE-SALES OF 56.2 BILLION RUPEES; UP 25% YOY

Source text: ID:nNSE7g3tbD

Further company coverage: LODH.NS

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Sept 17 (Reuters) - Lodha Developers Ltd LODH.NS:

• LODHA DEVELOPERS - TO REFER RAJENDRA LODHA MATTER TO APPROPRIATE AUTHORITIES FOR INVESTIGATION

Source text: ID:nnAZN4JC79N

Further company coverage: LODH.NS

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** India's Lodha Developers LODH.NS slumps as much as 6.6% to a two-month low of 1,346.5 rupees; last down 5.8%

** Set for biggest daily pct drop in more than three months

** A block deal involving 9.95 million shares, representing a 1% stake in the real estate company, is executed at the price of 1,384.4 rupees per share, as per LSEG data

** CNBC-TV18 reported on Tuesday that an existing investor is likely to sell 1% stake in a $165 million block deal

** More than 14 million shares change hands, ~15x its 30-day avg daily volume

** Stock erases YTD gains, down ~3%

(Reporting by Vivek Kumar M)

(([email protected];))

July 2 (Reuters) - Lodha Developers Ltd MACE.NS:

• LODHA DEVELOPERS LTD - SUPREME COURT ORDERS LODHA DEVELOPERS TO DEPOSIT 5.21 BILLION RUPEES

• LODHA DEVELOPERS LTD - NO OTHER CLAIM ON V HOTELS' PROPERTIES AFTER DEPOSIT

Source text: ID:nNSE2h4M5g

Further company coverage: MACE.NS

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April 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - DIVIDEND 4.25 RUPEES PER SHARE

• MACROTECH DEVELOPERS MARCH-QUARTER CONSOL NET PROFIT 9.22 BILLION RUPEES

• MACROTECH DEVELOPERS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 42.24 BILLION RUPEES

Source text: ID:nBSEbSKSNq

Further company coverage: MACE.NS

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April 2 (Reuters) - Macrotech Developers Ltd MACE.NS:

• CERTAIN HOABL ENTITIES HAVE USED PURPORTED BOARD RESOLUTIONS OF COMPANY

• COMPANY DENIES APPROVAL OF FABRICATED BOARD RESOLUTIONS

• HOABL ENTITIES USED FABRICATED BOARD RESOLUTIONS FOR TRADEMARK USE

• INDEPENDENT DIRECTOR'S SIGNATURE ON FABRICATED BOARD RESOLUTIONS IS FORGED

• FORGED PAN CARD USED TO SUPPORT FABRICATED BOARD RESOLUTIONS

• INDEPENDENT DIRECTOR CONFIRMS FORGED SIGNATURE AND PAN CARD

• SPECIAL COMMITTEE FORMED TO INVESTIGATE AND TAKE LEGAL ACTION

Source text: ID:nBSE7Q0pW4

Further company coverage: MACE.NS

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March 11 (Reuters) - Macrotech Developers Ltd MACE.NS:

• CLARIFIES ON REPORT ABOUT LAND PARCEL ACQUISITION IN MUMBAI

• LAND PARCEL ACQUISITION IN MUMBAI ONE AMONG MANY UNDER DISCUSSION

Source text: ID:nnAZN3JFXJZ

Further company coverage: MACE.NS

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Jan 6 (Reuters) - Macrotech Developers Ltd MACE.NS:

• Q3FY25 PRE-SALES AT 45.10 BILLION RUPEES, UP 32% YOY

• Q3FY25 COLLECTIONS AT 42.90 BILLION RUPEES, UP 66% YOY

Source text: ID:nBSE876PSX

Further company coverage: MACE.NS

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Dec 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - UNIT DIRECTED TO PAY 400 MILLION RUPEES TO A VENDOR OVER TERMINATED CONTRACT

Source text: ID:nBSE4WNXBr

Further company coverage: MACE.NS

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Nov 29 (Reuters) - Macrotech Developers Ltd MACE.NS:

• EXECUTED AGREEMENT FOR ACQUISITION OF JANUS LOGISTICS AND INDUSTRIAL PARKS

• COST OF ACQUISITION 479.4 MILLION RUPEES

Source text: ID:nBSE4Sx5VV

Further company coverage: MACE.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to add information regarding Bajaj Housing Finance IPO in fourth paragraph.

By Ujjaini Dutta

BENGALURU, Sept 12 (Reuters Breakingviews) - India’s diaspora is fuelling a property boom in the world's fifth-largest economy. New launches of luxury homes by saleable area in the top seven cities hit 231 million square feet in the year through March, up 48% year-on-year, according to ICRA ICRA.NS, a credit ratings agency. Average prices of luxury homes in places including New Delhi, Bengaluru, and Chennai jumped 18% in the three months to end June. It's a helpful tailwind for GDP growth.

After a decade-long slump in the housing market through 2019, real estate is hotting up again as an investment choice including for ultra-high net worth individuals. Since the pandemic, consumers also prefer bigger homes. Plus landmark regulation introduced by Prime Minister Narendra Modi's government calls for timely project delivery and is restoring the confidence of everyday buyers.

Non-resident Indians are emerging as an especially strong source of demand; they will be the source of 20% of overall primary sales by 2025, up from 10% in 2019, according to NoBroker. The appetite of these buyers looks robust: they have a strong emotional connection to their motherland and plan to use the properties in the future, notes the technology-led real estate services firm.

The frenzy has put stocks of top developers in India into overdrive. Shares of $24 billion DLF DLF.NS, the largest listed real estate company in India, soared 57% in the past one year and those of Macrotech Developers MACE.NS - part of the Lodha group – jumped 53%. Over that period, the Nifty Realty Index .NIFTYREAL has outperformed the broader Nifty 50 benchmark .NSEI by 47 percentage points. Investors this week placed bids worth $39 bln for the initial public offering of Bajaj Housing Finance BAJO.NS, a mortgage lender focusing on well-heeled borrowers. By contrast, new launches of affordable property are stagnating as overall consumption in the economy remains subdued.

The luxury boom, and non-resident Indian purchases, matter because property is an important source of overall investment - which accounts for about a third of GDP. Private real estate demand, including for dwellings, was leading the uptick in investment, more than public capital expenditure, HSBC economist Pranjul Bhandari pointed out in a research note in March.

India’s blistering economic expansion is starting to moderate; GDP growth slowed to 6.7% in the April to June quarter. Demand for luxury housing is easing to a less frothy pace too: new launches will rise about 27% year-on-year in the current financial year, per ICRA. Overseas Indians will remain important buyers, however. They send remittances to the country and answer official calls to purchase diaspora bonds, issued by the government at times of crisis. Now they are flattering investment too.

Follow @ujjainidutta_

CONTEXT NEWS

New launches of luxury homes in India by saleable area hit 231 million square feet, up 48% year-on-year in financial year 2024, according to ICRA, a ratings agency majority-owned by Moody's.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on DUTTA/
[email protected]))

Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - UNIT ACQUIRED REMAINING 50% STAKE OF SIDDHIVINAYAK REALTIES

• MACROTECH DEVELOPERS - TOTAL COST OF ACQUISITION 4.16 BILLION RUPEES

• MACROTECH DEVELOPERS - SIDDHIVINAYAK REALTIES HAS BECOME WHOLLY OWNED SUBSIDIARY OF CO

Source text for Eikon: ID:nBSE87gXhp

Further company coverage: MACE.NS

April 26 (Reuters) - Macrotech Developers Ltd MACE.NS:

• TRIBUNAL APPROVED RESOLUTION PLAN OF CO IN RELATION TO INSOLVENCY RESOLUTION OF V HOTELS

• UNDER RESOLUTION PLAN, CO WILL PAY 9 BILLION RUPEES OVER A PERIOD OF 270 DAYS

Source text for Eikon: ID:nNSE5WYmLz

Further company coverage: MACE.NS

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April 24 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MARCH-QTR CONSOL NET PROFIT 6.66 BLN RUPEES VS 7.44 BLN RUPEES YR AGO

• MARCH-QTR CONSOL REV FROM OPS 40.19 BLN RUPEES VS 32.55 BLN RUPEES YR AGO

• FINAL DIVIDEND OF 2.25 RUPEES PER SHARE

Source text for Eikon: ID:nNSERr1yr

Further company coverage: MACE.NS

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April 5 (Reuters) - Macrotech Developers Ltd MACE.NS:

• WE HAD Q4FY24 PRE-SALES OF 42.3 BN RUPEES

• COLLECTIONS FOR 4QFY24 SHOWING GROWTH OF 20% YOY

• NET DEBT REDUCED TO 30.1 BILLION RUPEES AT Q4 END

Source text for Eikon: ID:nBSE7HzFMf

Further company coverage: MACE.NS

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March 28 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS - ACQUIRES 50% OF PAID-UP EQUITY CAPITAL OF SIDDHIVINAYAK REALTIES

• MACROTECH DEVELOPERS - TOTAL COST OF ACQUISITION 2.51 BILLION RUPEES

Source text for Eikon: ID:nBSE13ndRy

Further company coverage: MACE.NS

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March 7 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - LODHA SUCCESSFULLY RAISES 33 BILLION RUPEES EQUITY THROUGH QIP

Source text for Eikon: ID:nBSE7352wc

Further company coverage: MACE.NS

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March 4 (Reuters) - Macrotech Developers Ltd MACE.NS:

• APPROVED FLOOR PRICE FOR ISSUE AT 1129.48 RUPEES PER SHARE

Source text for Eikon: ID:nBSE88W65j

Further company coverage: MACE.NS

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Changes headline, recasts paragraph 1, and adds chart of historic weightage data of India and China in MSCI Global Standard index

By Bharath Rajeswaran

BENGALURU, Feb 13 (Reuters) - India has narrowed the gap with China in MSCI's Global Standard index, which tracks emerging market stocks for investors, after the latest revision.

Index provider MSCI raised India's weightage in the index to an all-time high of 18.2% on Tuesday, which could lead to inflows of about $1.2 billion, analysts said.

In comparison, China's weight in the index fell to 25.4% after the February revision, from 26.6% a year ago.

The convergence of weights between Indian and Chinese stocks has intensified since August 2020, when China's weightage was five times that of India's.

MSCI's revisions will come into effect after market close on Feb. 29. Indian shares had a 17.9% weight on the index ahead of the February review.

The gain for India can be attributed to a sustained rally in equities and relative underperformance of other emerging markets, especially China, Nuvama Alternative & Quantitative Research said in a note on Tuesday.

India could surpass a 20% weight on the MSCI index by early 2024, on consistent flows from domestic institutional investors and steady foreign portfolio investor participation, Nuvama said.

MSCI added five Indian stocks to its Global Standard index and did not move any out. In contrast, the index provider removed 66 Chinese stocks while adding five.

India's state-owned lenders Punjab National Bank PNBK.NS and Union Bank of India UNBK.NS were added to the large-cap category, while Bharat Heavy Electricals BHEL.NS and NMDC NMDC.NS were included in the mid-cap category. GMR Airports Infrastructure GMRI.NS was moved to the mid-cap category from small-caps.

India could witness up to $1.2 billion of passive foreign flows after the February review, Nuvama said.

About 27 small-cap stocks were added to the MSCI Domestic index, while six were either moved to other categories or removed.

Tata Motors TAMO.NS and Macrotech Developers MACE.NS were added to the domestic index under the large-cap category while Punjab National Bank, Canara Bank CNBK.NS and Embassy Office Park REIT EMBA.NS to the mid-caps.

Bharat Heavy Electricals BHEL.NS, Persistent Systems PERS.NS, MRF MRF.NS, Suzlon Energy SUZL.NS and Cummins India CUMM.NS were moved to the mid-cap index from small-caps.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)

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Jan 5 (Reuters) - Macrotech Developers Ltd MACE.NS:

• MACROTECH DEVELOPERS LTD - COLLECTIONS WERE 25.9 BILLION RUPEES FOR 3QFY24

• MACROTECH DEVELOPERS - LODHA Q3 PRE-SALES 34.1 BILLION RUPEES, UP C.12% Y/Y

• MACROTECH DEVELOPERS - BUSINESS DEVELOPMENT FOR 9M SURPASSED FY GUIDANCE OF 175 BILLION RUPEES FOR YEAR

• MACROTECH DEVELOPERS LTD - COLLECTIONS DOWN 3% Y/Y FOR 3QFY24

• MACROTECH DEVELOPERS - NET DEBT IN QUARTER AT 67.5 BILLION RUPEES

Source text for Eikon: ID:nBSEbttghw

Further company coverage: MACE.NS

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Jan 4 (Reuters) - Macrotech Developers Ltd MACE.NS:

• EXECUTED AGREEMENTS FOR ACQUISITION OF 100% EQUITY STAKE IN GOEL GANGA VENTURES INDIA

Source text for Eikon: ID:nBSE7StSbf

Further company coverage: MACE.NS

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Dec 29 (Reuters) - Macrotech Developers Ltd MACE.NS:

• GOT GST ORDER FOR 916 MILLION RUPEES

• THERE IS NO MATERIAL IMPACT OF SAME ON OPERATIONS OF COMPANY

Further company coverage: MACE.NS

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