Lodha Developers is strengthening its growth roadmap with the acquisition of a majority stake in Solidrise Realty, marking a focused push to scale up its presence in the Pune real estate market.
The company has entered into a share purchase agreement on February 14, 2026, to acquire an 80% equity stake in Solidrise Realty for a cash consideration of ₹294 crore. Following the transaction, Solidrise Realty, incorporated on March 21, 2025, will become a subsidiary of Lodha Developers. The acquisition aligns with Lodha’s stated strategy of expanding selectively in high-growth urban markets through a mix of capital deployment and disciplined execution.
The move comes against the backdrop of a landmark operating performance. Management recently highlighted that the company has, for the first time, crossed ₹5,000 crore in quarterly pre-sales. Moreover, Q1, Q2 and Q3 each delivered their best-ever performances for the respective quarters, underscoring the strength of the Lodha brand and the robustness of the markets in which it operates.
Profitability has remained resilient alongside growth. The embedded EBITDA margin for the quarter stood at approximately 32%, achieved despite a very modest contribution from land sales. According to management, this reflects the strong underlying economics and operating leverage of the core development business.
Lodha Developers’ development pipeline for the next five years is now approaching ₹2 lakh crore in gross development value (GDV), providing significant medium-term visibility. This is incremental to the company’s substantial land bank earmarked for development beyond five years in large-format townships such as Palava and Upper Thane, reinforcing its long-term growth runway.
Beyond Pune, the company continues to execute its two-step market entry strategy across India’s major residential markets. The approach begins with a pilot phase, typically involving a limited number of capital-light, joint development projects, to understand local demand dynamics, build on-ground teams and demonstrate Lodha’s product and service differentiation. Once brand acceptance and profitability thresholds are met, the company transitions into a growth phase.
This strategy has already played out successfully in Bengaluru. After around 2.5 years in the pilot phase, Lodha entered the growth phase, with full-year sales from Bengaluru now expected to exceed ₹2,500 crore in the first year itself, illustrating how rapidly scale can be achieved once the groundwork is laid.
With Bengaluru now in growth mode, Lodha has initiated the pilot phase in the National Capital Region (NCR), covering Delhi, Gurgaon, Noida and surrounding areas. The company has signed two locations in NCR with a combined GDV of around ₹33 billion and expects to commence sales over the next 12 months.