Sri Lotus Developers and Realty Limited (LOTUSDEV)
📢 Recent Corporate Announcements
Promoter Mr. Anand Kamalnayan Pandit offloaded 97,70,000 equity shares, representing 2.00% of Sri Lotus Developers and Realty Limited's equity, via an open market transaction on September 10, 2026. The sale was executed to comply with SEBI's Minimum Public Shareholding (MPS) requirement of reaching at least 25% public float. Following this divestment, aggregate promoter group holding declined from 81.87% to 79.87%.
- Promoter Anand Kamalnayan Pandit sold 97,70,000 equity shares in the open market on September 10, 2026
- Divested stake represents 2.00% of the company's total issued and paid-up equity share capital
- Promoter group shareholding decreased from 81.87% to 79.87%
- Transaction conducted in accordance with SEBI Master Circular for minimum public shareholding compliance
Sri Lotus Developers and Realty Limited has communicated the tax deduction at source (TDS) framework for its first interim dividend of ₹0.30 per share (30% on face value of ₹1) declared on September 1, 2026. Resident individuals with valid PAN linked to Aadhaar will face a 10% TDS, while missing or inoperative PANs will attract a 20% deduction. Shareholders seeking lower withholding rates or exemptions must submit valid tax declarations (Form 121, Form 41, or DTAA documentation) by September 11, 2026. The communication is procedural and standard following the board's prior dividend declaration.
- First interim dividend declared at 30% or ₹0.30 per equity share of face value ₹1 for FY27
- TDS rate set at 10% for resident shareholders with valid, Aadhaar-linked PAN
- Higher TDS rate of 20% applies where PAN is unavailable, invalid, or inoperative
- Exemption applies to resident individuals if dividend aggregate does not exceed ₹10,000 or valid Form 121 is submitted
- Deadline for submitting tax exemption forms and DTAA documents to RTA is September 11, 2026
Promoter Mr. Anand Kamalnayan Pandit intends to sell up to 2.00% of the company's equity capital (97,74,474 shares) via open market route. The transaction is aimed at complying with SEBI's minimum public shareholding (MPS) requirements. The sale is scheduled to take place within 7 trading days starting September 9, 2026. Following the divestment, aggregate promoter holding will decline from 81.87% to 79.87%.
- Promoter Anand Kamalnayan Pandit to divest up to 2.00% equity stake
- Divestment involves up to 97,74,474 equity shares in the open market
- Promoter group holding will reduce from 81.87% to 79.87%
- Sale window spans 7 trading days beginning September 9, 2026
Sri Lotus Developers and Realty Limited announced that one of its subsidiaries has been appointed as the developer for a residential redevelopment project in Model Town, Versova, Andheri (West), Mumbai. The project targets the premium luxury residential segment. Key commercial details including estimated Gross Development Value (GDV), carpet area, and capital outlay were not disclosed in the filing, with the company noting that additional information will follow.
- Subsidiary appointed as developer for a residential re-development project at Model Town, Versova, Andheri (W), Mumbai
- Project targets luxury and premium residential spaces
- Specific financial metrics, saleable area, and project costs were marked as not disclosed, to be shared in due course
Sri Lotus Developers and Realty Limited has dispatched intimations to shareholders whose email addresses are not registered, providing the exact web-link and path to access the Annual Report for FY25-26. The company announced that its 12th Annual General Meeting (AGM) will be held on Tuesday, September 29, 2026, at 11:30 a.m. IST via Video Conferencing. The cut-off date for dispatching electronic AGM notices and Annual Reports was August 28, 2026.
- 12th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 11:30 a.m. IST
- Cut-off date for AGM notice and Annual Report dispatch was August 28, 2026
- Dispatched web-link communication under Regulation 36(1)(b) of SEBI LODR Regulations, 2015
- No physical copies of the Annual Report to be dispatched unless specifically requested by members
Sri Lotus Developers and Realty Limited has issued the notice for its 12th Annual General Meeting (AGM) to be held on September 29, 2026 via video conferencing. The company is seeking shareholder approval for a final dividend of ₹0.50 per equity share (50% of ₹1 face value) for FY25-26. Key special business includes the appointment of promoter-group member Mr. Paarth Deepak Chheda as Executive Director for a 5-year term from October 1, 2026, with FY26 remuneration of ₹1.56 Cr (INR 15.58 million). The re-appointment of Ms. Ashka Anand Pandit as Whole Time Director is also on the agenda.
- 12th AGM scheduled for September 29, 2026 at 11:30 AM IST via VC/OAVM
- Final dividend proposed at 50% (₹0.50 per equity share of face value ₹1) for FY25-26
- Proposed appointment of Mr. Paarth Deepak Chheda as Executive Director for 5 years (Oct 1, 2026 to Sep 30, 2031)
- Remuneration of INR 15.58 Million (₹1.56 Cr) disclosed for Executive Director for FY25-26
- Cost auditor remuneration ratified at INR 60,000 for FY 2026-27
Sri Lotus Developers and Realty Limited announced that one of its subsidiaries has been appointed as developer for a premium residential redevelopment project at Lokhandwala back road, Andheri (West), Mumbai. The project targets the luxury residential segment, expanding the company's footprint in core western suburban micro-markets. Detailed commercial metrics including gross development value (GDV), saleable area, and execution timelines were not disclosed in this filing.
- Subsidiary appointed as developer for residential redevelopment at Lokhandwala back road, Andheri (W), Mumbai - 400053.
- Project focuses on premium luxury residential spaces.
- Project financial terms, GDV, and saleable area were not disclosed and will be shared in due course.
Sri Lotus Developers and Realty Limited has approved a 1st Interim Dividend of Rs. 0.30 per equity share (30% on Re. 1 face value) for FY 2026-27, with the record date set for September 11, 2026. The company also fixed September 25, 2026, as the record date for the payment of the FY 2025-26 Final Dividend, subject to shareholder approval. Furthermore, the 12th AGM is scheduled for September 29, 2026, where the appointment of Mr. Paarth Deepak Chheda as Executive Director for a 5-year term will be placed for voting.
- Declared 1st Interim Dividend of Rs. 0.30 per share (30% on face value Re. 1) for FY 2026-27
- Fixed September 11, 2026, as the Record Date for the 1st Interim Dividend
- Fixed September 25, 2026, as the Record Date for the FY 2025-26 Final Dividend
- 12th Annual General Meeting scheduled for September 29, 2026, via Video Conferencing
- Recommended appointment of Mr. Paarth Deepak Chheda as Executive Director for 5 years from October 01, 2026
Sri Lotus Developers and Realty Limited has announced a 1st Interim Dividend of 30% (₹0.30 per equity share of face value ₹1) for FY2026-27, with the record date set for September 11, 2026. Additionally, the company fixed September 25, 2026, as the record date for the FY2025-26 final dividend, subject to shareholder approval at the AGM on September 29, 2026. The board has also recommended the appointment of Mr. Paarth Deepak Chheda as Executive Director for a 5-year term starting October 01, 2026.
- Declared 1st Interim Dividend of ₹0.30 per share (30% on FV of ₹1) for FY2026-27
- Record date for interim dividend set as September 11, 2026
- Record date for FY2025-26 final dividend fixed as September 25, 2026
- 12th Annual General Meeting scheduled for September 29, 2026
- Recommended appointment of Mr. Paarth Deepak Chheda as Executive Director for 5 years from October 01, 2026
Sri Lotus Developers and Realty has declared a 1st Interim Dividend of ₹0.30 per share (30% on face value of ₹1) for FY27, setting the record date as September 11, 2026. The Board also set September 25, 2026, as the record date for the FY26 final dividend, subject to shareholder approval. Additionally, the 12th Annual General Meeting is scheduled for September 29, 2026, where the appointment of Mr. Paarth Deepak Chheda as Executive Director for a 5-year term will be placed for approval.
- Approved 1st Interim Dividend of ₹0.30 per equity share (30% on ₹1 face value) for FY 2026-27.
- Interim dividend record date set for Friday, September 11, 2026.
- FY 2025-26 final dividend record date set for Friday, September 25, 2026.
- 12th AGM scheduled for September 29, 2026, including voting on the 5-year appointment of Paarth Deepak Chheda as Executive Director from October 1, 2026.
Sri Lotus Developers and Realty Limited has declared a 1st Interim Dividend of ₹0.30 per equity share (30% of face value Re. 1) for FY 2026-27. The company has also fixed September 25, 2026 as the record date for determining eligibility for the FY 2025-26 final dividend. Additionally, the board recommended the appointment of Mr. Paarth Deepak Chheda as an Executive Director for 5 years, subject to approval at the 12th AGM on September 29, 2026.
- Declared 1st Interim Dividend of ₹0.30 per share (30% on face value of Re. 1/-) for FY27
- Record date for FY26 Final Dividend fixed as September 25, 2026
- 12th Annual General Meeting scheduled for September 29, 2026 via Video Conferencing
- Recommended appointment of Mr. Paarth Deepak Chheda as Executive Director for 5 years from October 01, 2026
Sri Lotus Developers and Realty Limited issued a revised intimation clarifying a clerical error in its earlier disclosure dated August 14, 2026. The company clarified that it has filed an 'Appeal' before the Deputy Commissioner of State Tax (Appeals - IV), Mumbai, rather than a 'writ petition'. The legal proceeding challenges an order dated June 18, 2026, issued by the Office of the Assistant Commissioner of State Tax, Investigation - B, Mumbai.
- Clarified filing of an Appeal before Deputy Commissioner of State Tax (Appeals - IV), Mumbai.
- Replaces inadvertent mention of 'writ petition' in the previous intimation dated August 14, 2026.
- Challenges the State Tax order dated June 18, 2026, received from Assistant Commissioner of State Tax, Investigation – B.
- All other contents and disclosures from the August 14, 2026 filing remain unchanged.
Sri Lotus Developers has been appointed as the preferred developer by a housing society for a beachfront residential redevelopment project at Shivaji Park, Dadar. The project has an estimated Gross Development Value (GDV) of ₹550 crore with approximately 44,000 sq. ft. of saleable area. The project's GDV represents ~82.8% of the company's TTM revenue of ₹664 crore. Execution is slated to commence by the end of FY28 or Q1 FY29, with completion targeted within 3 to 3.5 years from commencement.
- Appointed preferred developer for a luxury seafront redevelopment project at Shivaji Park, Dadar.
- Estimated Gross Development Value (GDV) stands at ₹550 crore, equaling ~82.8% of TTM revenue.
- Project encompasses an estimated saleable area of approximately 44,000 sq. ft.
- Commencement expected by end of FY28 or Q1 FY29, with a completion timeline of 3 to 3.5 years.
Sri Lotus Developers and Realty Limited has filed a writ petition/appeal before the Deputy Commissioner of State Tax (Appeals - IV), Mumbai on August 14, 2026. The petition challenges a DRC-07 order issued on June 18, 2026, under Section 74 of the CGST/MGST Act covering FY21, FY22, and FY24. The total demand across tax, interest, and penalties stands at approximately ₹10.0 Cr, primarily driven by FY22 (~₹9.79 Cr). The company had already deposited the tax component under protest and stated there is no material impact on financials.
- Filed appeal/writ petition on August 14, 2026 against the tax order dated June 18, 2026.
- Major liability pertains to FY22 comprising ₹3.58 Cr tax, ₹2.63 Cr interest, and ₹3.58 Cr penalty.
- Tax components across FY21, FY22, and FY24 have already been paid under protest.
- Aggregate disputed demand of ~₹10 Cr represents ~4.6% of TTM PAT (₹217 Cr).
Sri Lotus Developers has announced that its subsidiary has been appointed as the developer for a prestigious residential redevelopment project at Shivaji Park Beach Front, Mumbai. This move aligns with the company's strategy to target high-ASP (Average Selling Price) micro-markets, complementing its existing pipeline of 2.1 million sq. ft. While specific project financials were not disclosed, the location is one of Mumbai's most premium residential zones. The company currently maintains a total estimated Gross Development Value (GDV) of ₹13,000 to ₹14,000 Cr across 18 projects.
- Subsidiary appointed for a premium redevelopment project at Shivaji Park Beach Front, Mumbai.
- Project adds to an existing pipeline of 2.1 million sq. ft. of saleable area across 18 projects.
- Company targets a total pipeline GDV of ₹13,000 to ₹14,000 Cr to be realized by FY30.
- Execution track record remains strong, with projects typically completed 12-18 months ahead of RERA timelines.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations grew 19.1% YoY to INR 549.68 Cr in FY25, driven by luxury redevelopment projects. In Q2 FY26, revenue reached INR 176 Cr, a 44% YoY increase, while H1 FY26 revenue stood at INR 237 Cr.
Geographic Revenue Split
100% of revenue is concentrated in Mumbai micro-markets, specifically Juhu, Bandra, Prabhadevi, Versova, and Andheri West. The company achieves a 20%+ price premium in the Juhu market compared to peers.
Profitability Margins
FY25 PAT margin was 41.46%, up significantly from 25.96% in FY24. However, management has guided for a sustainable long-term PAT margin of 25-30% because FY25 margins were inflated by a one-off low-cost project and price appreciation.
EBITDA Margin
EBITDA margin stood at 52.75% in FY25, an 82.3% YoY increase in absolute EBITDA to INR 288.97 Cr. Q2 FY26 EBITDA margins were lower at 29% due to the initial stages of new project launches where costs are front-loaded; future guidance is 35-40%.
Capital Expenditure
Capital expenditure during FY25 was INR 1.24 Cr (INR 12.39 million). Net value of property, plant, and equipment stood at INR 3.28 Cr as of March 31, 2025.
Credit Rating & Borrowing
The company is net debt-free with a net cash balance of INR 851 Cr as of September 2025, following an IPO that raised INR 792 Cr in fresh issue proceeds.
Operational Drivers
Raw Materials
Construction materials including steel, cement, and labor represent the primary costs. Expenses towards ongoing and upcoming projects surged to INR 228 Cr in Q2 FY26 from INR 38 Cr in Q2 FY25, a 500% increase due to new project starts.
Import Sources
Not disclosed in available documents; however, sourcing is primarily domestic for Mumbai-based redevelopment projects.
Capacity Expansion
Current pipeline includes 2.1 million sq. ft. of saleable area across 18 projects (15 residential, 3 commercial) to be realized by FY30. Total GDV of this pipeline is estimated at INR 13,000 to INR 14,000 Cr.
Raw Material Costs
Project expenses as a percentage of revenue increased in Q2 FY26 due to the launch of 'The Arcadian' and 'Amalfi', leading to a temporary margin dip as revenue recognition lags initial construction spend.
Manufacturing Efficiency
Rapid project execution is a core metric, with the company completing residential developments 12-18 months ahead of RERA timelines, which reduces interest overhead and improves ROE.
Strategic Growth
Expected Growth Rate
75-85%
Growth Strategy
Growth will be driven by four major H2 FY26 launches: Project Varun (Bandra), Lotus Aquaria (Prabhadevi), Lotus Celestial (Versova), and Lotus Trident (Andheri West), with a combined revenue potential of INR 3,500-3,700 Cr. The company is also expanding its pipeline, having added 6 new projects in H1 FY26.
Products & Services
Luxury and ultra-luxury residential apartments and commercial premises, primarily through the redevelopment of existing housing societies.
Brand Portfolio
Lotus Developers, Sri Lotus Developers and Realty.
New Products/Services
Recent launches include 'The Arcadian' in Juhu (INR 92 Cr bookings in week 1) and 'Amalfi' in Versova (INR 38 Cr bookings in week 1).
Market Expansion
Expanding from core micro-markets into newer premium precincts such as Bandra and Prabhadevi to capture higher Average Selling Prices (ASP).
Market Share & Ranking
Not disclosed in available documents, but the company claims an industry-leading ROE of 41% for FY25.
Strategic Alliances
Joint Development Agreements (JDA) and redevelopment agreements with housing societies; 14 of 18 current projects are redevelopment-based.
External Factors
Industry Trends
The Mumbai real estate market is shifting toward organized redevelopment specialists. Lotus is positioning itself to benefit from this by maintaining an asset-light model and focusing on high-velocity micro-markets.
Competitive Landscape
Competes with other Mumbai-based luxury developers; differentiates through faster delivery and a focus on redevelopment over greenfield land banking.
Competitive Moat
The moat is built on 'Rapid Execution' (12-18 months ahead of RERA) and 'Brand Premium' (20% above peers). This is sustainable because it creates a virtuous cycle of society appointments and faster capital turnover.
Macro Economic Sensitivity
Highly sensitive to Mumbai luxury real estate demand and interest rate cycles which affect home loan affordability for premium buyers.
Consumer Behavior
Strong shift toward luxury and ultra-luxury segments in Mumbai, evidenced by INR 130 Cr in bookings within the first week of two new project launches.
Geopolitical Risks
Minimal direct impact as operations are localized to Mumbai, though global economic shifts can affect the investment capacity of ultra-high-net-worth individuals.
Regulatory & Governance
Industry Regulations
Operations are governed by RERA (Real Estate Regulatory Authority) timelines and Mumbai municipal redevelopment policies. The company maintains compliance to ensure projects remain 12-18 months ahead of legal deadlines.
Taxation Policy Impact
Tax expenses for FY25 were INR 78.94 Cr on a consolidated basis, representing an effective tax rate of approximately 25.7%.
Legal Contingencies
During FY25, there were no material and significant orders passed by regulators, courts, or tribunals impacting the company's going concern status.
Risk Analysis
Key Uncertainties
Margin compression risk (potential 5-10% fluctuation) depending on the mix of projects and the stage of execution. FY25's high margins are not expected to be the baseline for future years.
Geographic Concentration Risk
100% of revenue and the INR 14,000 Cr GDV pipeline are concentrated in Mumbai, making the company vulnerable to regional regulatory changes or local economic downturns.
Third Party Dependencies
High dependency on housing societies for redevelopment appointments; currently, 3 projects (Avalon, Imperial, Upper Crest) have appointed Lotus as the 'preferred developer' but await final execution.
Technology Obsolescence Risk
Low risk, but the company is focusing on 'homogenous products' to ensure uniformity between existing society members and new buyers.
Credit & Counterparty Risk
Receivables are generally secured against property allotments; collections grew 16% YoY to INR 106 Cr in Q2 FY26.
