Bengaluru, July 24 -- Lodha Developers Ltd has reported a two-fold rise in net profit to Rs.1,373 crore for the June-ended quarter, fuelled by strong growth in revenue and cashflows. Revenue from operations saw a 43% year-on-year jump to Rs.4,996.7 crore compared to the year-ago quarter.

"On the back of strong structural housing demand and accelerating consolidation in favor of tier-1 brands like Lodha, the company is confident of growing its profit at 20% CAGR over the long term. Our market share in the target segment is at 3.5% and thereby a long runway to grow over medium to long term," Abhishek Lodha, managing director of Lodha Developers, said in a media release.

Despite no fresh launches, the Mumbai-based firm saw a 4% rise in pre...