Real estate major Lodha Developers Ltd has acquired a land parcel in the Mumbai Metropolitan Region (MMR) during the July–September quarter to develop a housing project with a gross development value (GDV) of Rs 23 billion, strengthening its expansion drive in key urban markets.

With this acquisition, Lodha Developers has achieved its FY26 land acquisition target, having secured multiple projects with a combined revenue potential of Rs 250 billion.

In its Q2 FY26 operational update, the company stated: “In Q2 of FY26, we added one project with a GDV of Rs 23 billion in MMR.” Lodha did not specify whether the transaction was an outright purchase or a joint development with the landowner.

Lodha Developers, which sells properties under the ‘Lodha’ brand, said it has already met its full-year guidance for land acquisitions in the first half of the fiscal year and continues to maintain a robust project pipeline.

In the first quarter of FY26, the company had acquired five land parcels in Mumbai, Pune and Bengaluru for residential developments with a total revenue potential of Rs 227 billion. During the previous fiscal year, Lodha secured 10 land parcels valued at Rs 237 billion in total sales potential.

On the sales front, pre-sales rose by 7 per cent year-on-year to Rs 45.7 billion in Q2 FY26, up from Rs 42.9 billion a year earlier, supported by healthy housing demand.

For the first half of FY26, Lodha reported pre-sales of Rs 90.2 billion, an 8 per cent increase from Rs 83.2 billion during the same period last year. The company said that with the Supreme Court clearing the Environmental Clearance (EC) process in August, several major project launches are planned for the second half of the year, putting it on track to achieve its FY26 pre-sales target of Rs 210 billion.

In FY25, Lodha’s pre-sales rose to Rs 176.3 billion, compared to Rs 145.2 billion in the prior year. The company recorded a net profit of Rs 27.7 billion on a total income of Rs 141.7 billion during FY25.

Lodha Developers, among India’s largest real estate firms, has delivered 110 million sq. ft of completed projects and is currently developing over 130 million sq. ft across its ongoing and planned portfolio in MMR, Pune and Bengaluru.

As of Friday’s closing, Lodha’s shares stood at Rs 1,154.70 on the BSE, giving it a market capitalisation exceeding Rs 1.15 trillion.