Synopsis: Lodha’s Rs 1.3 lakh crore, 2.5 GW data centre push marks a strategic pivot from cyclical real estate to long-term digital infrastructure, backed by hyperscaler demand and policy support.
The shares of this company, which is engaged in the business of real estate development and is among the largest real estate developers in terms of presales and development pipeline in India, with a presence in MMR, Pune and Bengaluru, had its shares in focus after dedicating another Rs 1 lakh crore to its data centre park project.
With the market cap of Rs 1,01,386 crore, the shares of Lodha Developers Ltd are trading at Rs 1,015 per share and are trading at a PE of 30.5, whereas its industry PE is at 33.1. The shares have given a return of more than 280% since their listing in April 2021.
2.5-gigawatt data centre park
The aggressive move by Lodha Developers to dedicate another Rs 1 lakh crore to its data centre project in Maharashtra is the company’s biggest move to develop its digital infrastructure. This comes after the initial commitment of the company through its MOU announcement of Rs 30,000 crores, and the company is set to dedicate a total of Rs 1.3 lakh crores, which is set to host the biggest data centre in the country, which is expected to be 2.5 gigawatts. This alone is enough to indicate the company’s move from the cyclical nature of the real estate sector to growth through infrastructure.
From a demand standpoint, there is already significant validation attained by the project from the global and domestic hyperscalers. This is because Amazon has secured land and power contracts for the long term, and STT Global Data Centres has also taken up space, which indicates that it is not a notional interest in leasing the space but is based on their demands.
The policy and geographical context further enhance the attractiveness of this investment. This project supports Maharashtra’s Green Integrated Data Centre Park policy, focusing on power availability, sustainability, and rapid processing of approvals, which remain prominent factors for big data centre managers. With rapid data usage, cloud deployment, and AI processing emerging in India, Maharashtra’s data hub state status ensures definite macro support for Lodha Group.
Strategically, the fact that Lodha is a developer-partner rather than a pure play will allow it to play on its development strengths while keeping its cost structure under control. Job creation is expected to be above 16,000 direct and indirect employment opportunities, increasing its relevance in the economic and political arenas. It could create a more stable annuity stream in the long term compared to real estate cycles for a digital infrastructure platform like this.
Financials
The revenue from operations for the company stood at Rs 3,798 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 2,626 crores, up by about 45 per cent YoY. Similarly, the net profit stood at Rs 790 crore in Q2 FY26, up compared to the Rs 423 crore in Q2 FY25.
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