Lodha records Rs 9,000 cr sales in nine months, continues to prune debt

Company says it is on course to surpass its pre-sales guidance of Rs 11,500 crore for FY23

Real estate developer Lodha Group posted a 16 per cent growth in sales on a year-on-year (YoY) basis with pre-sales worth Rs 3,035 crore in the third quarter of FY23.

Revenue collection stood at Rs 2,682 crore, up a significant 26 per cent YoY. The firm's net debt in India reduced further to Rs 8,042 crore, the company said in its quarterly updates.

The company’s nine-month pre-sales performance of Rs 9,039 crore in FY23 has already exceeded the pre-sales achieved in the whole of FY22.

"This sets us up to surpass our pre-sales guidance of Rs 11,500 crore for FY23,"