Macrotech Developers Limited (LODHA) Fair Value & Analysis
Real Estate · IN · Market cap ₹1.2T (≈ $12.6B) · ISIN INE670K01029
What is Macrotech Developers Limited really worth?
A solid business, but trading 109% above our fair value of ₹583.43.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 15 valuation models · updated 2 days ago
Share price −2.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹729.28). The favourable scenario is already priced in.
- The model range is unusually wide (₹257.94 to ₹729.28). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range ₹305.52 – ₹1,587 · fair‑value band ₹257.94 – ₹729.28 · the ₹1,222 price screens above the ₹583.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Analysis
Macrotech Developers Limited (LODHA) currently trades at ₹1,222, while our model-based Fair Value estimate is ₹583.43, implying the stock looks roughly 109.5% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of ₹669.10 per share, and 0 of the 15 models we run sit above the ₹1,222 price. Bear case: the Dividend Discount group reads lowest at ₹73.07, and 15 of the 15 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Macrotech Developers Limited generated revenue of ₹167B at a net margin of 20.6%. Revenue grew 7.6% year over year. It earns a return on equity of 15.7%. Net debt stands at ₹63.1B. Fundamentals as of Sep 3, 2026
Our scenario range runs from ₹257.94 (bear case) to ₹729.28 (bull case); at ₹1,222, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 88% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −9% fair-value upside, at −52%, LODHA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹12.98 per share, which is 2.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 15 models by family
Widest divergence: DCF Models (₹669.10) versus Growth DCF (₹14.58). Highest evidence: FCF DCF (73).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 67
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Lodha Developers Limited, through its subsidiaries, engages in the development of real estate properties in India. The company is involved in the construction and development of residential, office, and retail properties, as well as leasing of retail and office spaces.
Full company description
Lodha Developers Limited, through its subsidiaries, engages in the development of real estate properties in India. The company is involved in the construction and development of residential, office, and retail properties, as well as leasing of retail and office spaces. It also develops warehousing, logistics, light industrial facilities, and digital infrastructure parks. It develops properties under the LODHA, LODHA LUXURY, and PALAVA brand names. The company was formerly known as Macrotech Developers Limited and changed its name to Lodha Developers Limited in June 2025. Lodha Developers Limited was founded in 1980 and is headquartered in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Macrotech Developers Limited reported revenue of ₹167B in FY2026 versus ₹92.3B in FY2022, a compound +15.9%/yr. Reported net income was ₹34.3B in FY2026, compounding +29.9%/yr from FY2022.
of which total revenue +7.0 % · buybacks/dilution −2.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LODHA screens 109% overvalued. Compare with Sun Hung Kai Properties Limited →
Peer Group
Real Estate - Development · 567 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Sun Hung Kai Properties Limited 80016 | HK$109.70 | HK$88.93 | −19% |
| China Resources Land Limited 1109 | HK$35.24 | HK$72.16 | +105% |
| Vinhomes Joint Stock Company VHM | 71,700 VND | 109,431 VND | +53% |
| CK Asset Holdings 1113 | HK$47.34 | HK$68.85 | +45% |
| Hongkong Land Holdings H78 | $8.20 | $1.52 | −81% |
| DLF Limited DLF | ₹667.10 | ₹170.24 | −74% |
| China Overseas Land & Investment Limited 0688 | HK$13.76 | HK$22.92 | +67% |
| Sino Land Company 0083 | HK$10.33 | HK$6.99 | −32% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 5,925 IDR | 1,325 IDR | −78% |
| CTP N.V CTPNV | €14.36 | €13.00 | −9% |
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