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Today's prices ask more of Asian Paints than of Lodha Developers.
At current prices, buyers of Asian Paints are assuming about 25% growth against 4% in its own record; for Lodha Developers it is 24% against 19%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: Asian Paints on estimate withheld; Lodha Developers on discounted cash flow.
- Size: Asian Paints is worth about 2.0 times Lodha Developers on the stock market.
- Record: Lodha Developers has grown revenue faster: Asian Paints compounded at about 9% a year (FY2018–FY2026) and Lodha Developers at about 25% (FY2021–FY2026).
- What to watch: volume growth at Asian Paints; pre-sales growth at Lodha Developers.
| Asian Paints | Lodha Developers | |
|---|---|---|
| Price | ₹2,550 | ₹1,220 |
| Market cap | ₹2.45L Cr | ₹1.22L Cr |
| P/E | 50.5 | 28.0 |
| P/B | 11.44 | 5.24 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Estimate withheld | Discounted cash flow |
01Two businesses
India's paint leader, under attack
Asian Paints, founded in 1942, is India's largest paint company and has led the decorative-paints market for decades. Its strength is distribution: a network of dealers across the country and a supply chain that can restock them quickly.
From Macrotech to Lodha Developers
Lodha Developers, renamed from Macrotech Developers in 2025, is a Mumbai-based developer controlled by the Lodha family and listed in 2021. It builds homes across price points in the Mumbai region and Pune, from luxury towers to mid-income projects.
02The records side by side
Lodha Developers has grown revenue faster: Asian Paints compounded at about 9% a year (FY2018–FY2026) and Lodha Developers at about 25% (FY2021–FY2026). By revenue, Asian Paints is about 2.1 times the size of Lodha Developers. Asian Paints kept 12.4% of revenue as net profit in FY2026; Lodha Developers kept 20.6% of revenue as net profit in FY2026.
Full ten-year tables and charts are on each company's page: Asian Paints · Lodha Developers.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- Volume growthRepainting cycles and new housing drive demand.
- Market shareHow much share new entrants take decides whether Asian Paints can keep its margins.
- Pre-sales growthBookings drive future revenue and cash.
- Debt reductionLower debt has cut interest costs and risk.
05What could go wrong
- Price competitionRivals offering bigger dealer incentives could force price cuts.
- Slower housing demandWeak urban demand slows repainting.
- Mumbai concentrationMost sales come from one region.
- Rate cyclesHigher mortgage rates slow buying.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Asian Paints or Lodha Developers better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Asian Paints trades at 50.5 times earnings and 11.44 times book value, and Lodha Developers at 28.0 times earnings and 5.24 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Asian Paints and Lodha Developers?
Asian Paints, founded in 1942, is India's largest paint company and has led the decorative-paints market for decades. Lodha Developers, renamed from Macrotech Developers in 2025, is a Mumbai-based developer controlled by the Lodha family and listed in 2021.
Are Asian Paints and Lodha Developers valued the same way?
No. Asian Paints is valued on estimate withheld and Lodha Developers on discounted cash flow, because forcing one model onto both would misstate at least one of them.
What does today's price assume for Asian Paints and Lodha Developers?
Worked backwards from the share price, Asian Paints needs about 25% growth and Lodha Developers about 24% growth, against 4% and 19% in their own records.