Lodha Developers shares continue recovery from 52-week low; Jefferies sees 54% upside

Shares of Lodha Developers Ltd. gained as much as 6% on Friday, April 10, as brokerage firm Jefferies reiterated its positive stance on the stock post its site visit to the company’s Palava Data Center.Jefferies maintained its “buy” rating on Lodha Developers with a price target of ₹1,215 per share, implying an upside potential of 53.9% from its previous closing price.

Lodha’s data center business may scale up significantly in the financial year 2027, according to Jefferies, who added that the cash flows received from land sales — ₹12,000 crore over the next three to five years — are planned to be reinvested in developing the built-to-suit powered shell data center business.
The brokerage said it is building in an initial 200 MW of data center powered-shell to be constructed over financial year 2027-2029. This should yield ₹500 crore per annum of lease income, it said.The brokerage added that it values the data center business at ₹140 per share.

Shares of Lodha Developers gained 6.6% to hit an intraday high of ₹842 apiece on Friday. The stock is up for the seventh straight session. From the 52-week low of ₹625 seen on April 2, the stock has recovered over 27% in the five subsequent sessions.

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