Nomura has maintained a Buy rating on Macrotech Developers (Lodha) with a target price of ₹1,450, implying a potential upside of approximately 14% from the current market price of ₹1,277.00.
The brokerage called the Q1FY26 performance a strong set, with revenue, EBITDA, and PAT rising 23%, 30%, and 41% year-on-year, respectively — all broadly in line with estimates.
Nomura highlighted strong pre-sales performance in Bengaluru and noted significant business development activity, including five new projects, one of which is a 7 million sq. ft. development in North Bangalore with a gross development value (GDV) of ₹8,400 crore. Launches during the quarter were also robust at ₹8,400 crore.
Disclaimer: This article is based on Nomura’s brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
