Sri Lotus Developers and Realty Limited (LOTUSDEV)
₹225.50 -5.00% last close, 23 Oct
Snapshot
Sri Lotus Developers and Realty Limited closed at ₹225.50 on 23 Oct 2026, 40.4% above its 200-day average, with an RSI(14) of 49.5 and a P/E of 36.09. On the daily chart it is in a strong uptrend, with a technical score of 56/100 (neutral). In the quarter ended September 2026, revenue grew 52.6% and net profit grew 92.4% from a year earlier. Data as of 23 Oct 2026.
Price
- Price
- ₹225.50
- Day change
- -5.00%
- Market Cap
- ₹11,021 Cr
- 52-week range
- ₹102.20 – ₹248.40
- From 52-week high
- -9.22%
Financials23 Oct 2026
- P/E
- 36.09
- P/B
- 5.42
- ROE
- 15.0%
- Debt to Equity
- 0.06
- OPM
- 38.2%
- YoY qtr sales growth
- 52.6%
- YoY qtr profit growth
- 92.4%
Latest quarter Sep 2026 · Consolidated
Technicals23 Oct 2026
- Trend
- Strong Uptrend
- Technical score
- 56/100 · Neutral
- MACD
- Bearish
- RSI (14)
- 49.55
- ADX (14)
- 28.60
- SuperTrend
- Bullish
- vs 20-day SMA
- -2.92%
- vs 50-day SMA
- +8.89%
- vs 200-day SMA
- +40.40%
- RS rating
- 92.00
- Nearest support
- ₹204.82
- Nearest resistance
- ₹248.10
Exchange activity23 Oct 2026
- Price band
- Lower band, 23 Oct
Events
- Latest results
- Q2 FY27, filed 15 Oct 2026
- Board meeting filing
- 15 Oct 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Q2 FY27 results
Sri Lotus Developers and Realty Limited reported Q2 FY27 results on 15 Oct 2026: revenue ₹269 Cr (+52.6% year on year, +102.9% on the previous quarter), and net profit ₹88.5 Cr (+92.4% year on year); the operating margin was 39.9%.
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹269 | +52.6% | +102.9% |
| Operating profit | ₹107 | +114.5% | +122.8% |
| Net profit | ₹88.5 | +92.4% | +93.6% |
| EPS (₹) | 1.68 | +78.7% | +80.6% |
| Operating margin | 39.9% | — | — |
- Profit +31% above its own trend
- Operating margin expanded 1153 bps YoY
- Core business grew faster than reported profit (core profit +120%)
- H1 FY27 operating cash flow was negative despite a profit
- Ahead of management's FY27 revenue growth guidance of 55–60% (H1 FY27 +68.9%)
- Ahead of management's FY27 net profit growth guidance of 55–60% (H1 FY27 +87.0%)
Quality of profit: of pre-tax profit of ₹118 Cr, ₹106 Cr (90%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +120.2% year on year.
Against its own trend: net profit of ₹88.5 Cr was +30.6% against the ₹67.8 Cr its recent growth pointed to (above trend). This is a statistical baseline, not an analyst estimate.
Against management's guidance: FY27 revenue growth was guided at 55–60% (earnings call of 19 Oct 2026); H1 FY27 came in at +68.9%, ahead of it.
Against management's guidance: FY27 EBITDA margin was guided at 35–40% (earnings call of 19 Oct 2026); H1 FY27 came in at 38.8%, on track.
Share price since the results: -6.1% (close before the filing to the latest close).
LOTUSDEV exchange data
NSE end-of-day data for
It closed at its lower price band (circuit) on 23 Oct, one of 3 band closes in about the last 20 sessions.
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Sri Lotus Developers released its Q2 FY27 earnings call transcript, reporting an 83% YoY increase in quarterly pre-sales to ₹470 crore and total H1 FY27 pre-sales of ₹879 crore (up 176% YoY). Q2 revenue rose 53% YoY to ₹269 crore, while EBITDA doubled to ₹107 crore with a 39.9% margin. The company added three new redevelopment projects adding ₹2,700-₹2,800 crore GDV, taking its total pipeline to 24 projects valued at approximately ₹20,000 crore (vs FY26 revenue of ₹769 crore). Management maintained its FY27 guidance of ₹1,800-₹2,000 crore pre-sales and 55-60% revenue growth, backed by four planned launches in H2 FY27.
- Q2 FY27 pre-sales grew 83% YoY to ₹470 crore, taking H1 FY27 pre-sales to ₹879 crore (up 176% YoY)
- Q2 revenue increased 53% YoY to ₹269 crore with EBITDA doubling to ₹107 crore (margin at 39.9%)
- Pipeline expanded to 24 projects with total GDV of approximately ₹20,000 crore after adding 3 new projects with ₹2,700-₹2,800 crore GDV
- Commercial project Lotus Trident contributed ₹178 crore in pre-sales in its first full quarter
- Reaffirmed FY27 pre-sales guidance of ₹1,800 to ₹2,000 crore and 55% to 60% revenue growth over FY26
Sri Lotus Developers released its Q2/H1 FY27 investor presentation, reporting a 53% YoY growth in Q2 revenue to ₹269 Cr and a 91% YoY increase in PAT to ₹89 Cr. Q2 pre-sales grew 83% YoY to ₹470 Cr, bringing H1 FY27 pre-sales to ₹879 Cr (up 176% YoY). The company announced four new project appointments adding ₹2,700-2,800 Cr of GDV, alongside plans for four H2 FY27 launches with estimated GDV of ₹3,500-4,000 Cr (~4.2x to 4.8x TTM revenue of ₹840 Cr). The company remains net debt free with a net cash balance of ₹494 Cr as of September 2026.
- Q2 FY27 pre-sales jumped 83% YoY to ₹470 Cr; H1 FY27 pre-sales reached ₹879 Cr (up 176% YoY)
- Q2 FY27 revenue rose 53% YoY to ₹269 Cr, with EBITDA of ₹107 Cr (39.9% margin) and PAT of ₹89 Cr (up 91% YoY)
- Four upcoming H2 FY27 launches planned with combined estimated GDV of ~₹3,500-4,000 Cr
- Secured three new projects plus additional area adding ₹2,700-2,800 Cr GDV in Q2
- Net debt free status maintained with net cash balance of ₹494 Cr as of September 2026
Sri Lotus Developers reported strong financial results for Q2 FY27, with total revenue rising 53% YoY to ₹269 crore and PAT increasing 91% YoY to ₹89 crore. EBITDA expanded 113% YoY to ₹107 crore with margins reaching 39.9%. Operational momentum was strong, with Q2 pre-sales rising 83% YoY to ₹470 crore, taking H1 FY27 pre-sales to ₹879 crore (up 176% YoY). The company reaffirmed its FY27 guidance of ₹1,800-2,000 crore in pre-sales alongside 55-60% revenue and PAT growth.
- Q2 FY27 net profit rose 91% YoY to ₹89 crore compared to ₹46 crore in Q2 FY26
- Q2 FY27 total revenue grew 53% YoY to ₹269 crore from ₹176 crore
- Pre-sales in Q2 FY27 jumped 83% YoY to ₹470 crore, reaching ₹879 crore for H1 FY27
- Secured three new projects adding ₹2,700-2,800 crore of Gross Development Value (GDV)
- Four launches planned in H2 FY27 with combined GDV of ~₹3,500-4,000 crore
Sri Lotus Developers reported consolidated revenue from operations of ₹268.58 Cr (₹2,685.83 Mn) for Q2 FY27, up 53.4% YoY compared to ₹175.11 Cr in Q2 FY26. Profit before tax (PBT) reached ₹118.32 Cr (₹1,183.24 Mn) versus ₹62.23 Cr in the year-ago period, reflecting strong operational leverage. Standalone operating cash flow stood at ₹742.95 Cr for H1 FY27, heavily aided by working capital movements. The Board previously paid an interim dividend of ₹0.30 per share, with promoter group shareholders (holding 87.87%) waiving their dividend entitlement.
- Consolidated revenue from operations rose 53.4% YoY to ₹268.58 Cr (₹2,685.83 Mn) in Q2 FY27
- Consolidated PBT nearly doubled YoY to ₹118.32 Cr (₹1,183.24 Mn) from ₹62.23 Cr
- Total income for the quarter reached ₹280.76 Cr including other income of ₹12.18 Cr
- Standalone net cash flows generated from operating activities stood at ₹742.95 Cr for H1 FY27
- Promoter group holding 87.87% voluntarily waived their right to the ₹0.30/share interim dividend paid during the quarter
Sri Lotus Developers and Realty has announced changes to its Board effective October 1, 2026. Mr. Paarth Deepak Chheda has been appointed as an Executive Director for a 5-year tenure ending September 30, 2031, following shareholder approval at the AGM held on September 29, 2026. Concurrently, Mrs. Roopa Anand Pandit has resigned from her position as Non-Executive Non-Independent Director citing preoccupation and personal commitments. Both individuals are closely related to Chairman and MD Anand Pandit.
- Appointment of Mr. Paarth Deepak Chheda as Executive Director for a 5-year term from October 1, 2026 to September 30, 2031
- Shareholder approval for the appointment was obtained at the 12th AGM on September 29, 2026
- Resignation of Non-Executive Non-Independent Director Mrs. Roopa Anand Pandit effective October 1, 2026
- Both directors are part of the promoter family (Mr. Chheda is son-in-law, Mrs. Pandit is spouse of MD Anand Pandit)
Sri Lotus Developers and Realty Limited reported the voting results of its 12th Annual General Meeting held on September 29, 2026. All five ordinary resolutions were approved by shareholders with over 95% majority each. Key approvals include the declaration of a 50% final dividend of Rs 0.50 per share for FY26 and the appointment of Mr. Paarth Deepak Chheda as Executive Director with 95.04% votes in favor.
- Final dividend of Rs 0.50 per equity share (50% on face value Re 1) approved with 99.9999% votes in favor
- Appointment of Mr. Paarth Deepak Chheda as Executive Director passed with 95.0445% favorable votes
- Adoption of FY26 Audited Standalone and Consolidated Financial Statements approved with 99.9999% majority
- Total of 44 shareholders attended the AGM via Video Conferencing on September 29, 2026
Sri Lotus Developers has issued a tax deduction at source (TDS) advisory regarding its recommended final dividend of ₹0.50 per share (50% on ₹1 face value) for FY26. Resident individuals with valid PAN linked to Aadhaar will face 10% TDS if dividend payouts exceed ₹10,000, while invalid or unlinked PAN attracts a 20% rate. Non-residents can avail Double Tax Avoidance Treaty benefits upon submitting required documentation. The deadline for submitting tax exemption forms (Form 121/41) to KFin Technologies is October 4, 2026.
- Final dividend recommended at ₹0.50 per equity share of face value ₹1 (50%) for FY26
- TDS rate fixed at 10% for resident individuals with valid linked PAN if dividend exceeds ₹10,000
- Higher TDS rate of 20% applicable for missing, invalid, or unlinked PAN
- Submission deadline for tax exemption forms and declarations is October 4, 2026
Sri Lotus Developers and Realty Limited has announced the closure of its trading window starting Thursday, October 1, 2026. The restriction applies to designated persons and their immediate relatives in compliance with SEBI insider trading regulations. The window will reopen 48 hours after the declaration of the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The date of the board meeting to approve results will be announced separately.
- Trading window closes on Thursday, October 01, 2026
- Closure applies to all designated persons and immediate relatives
- Window to reopen 48 hours post declaration of Q2 and H1 results ended September 30, 2026
- Board meeting date to consider results will be communicated in due course
Sri Lotus Developers and Realty Limited has announced its participation in an investor conference organized by Anand Rathi on September 22, 2026. The meetings will be held in 1x1 and group formats starting at 10:00 AM in Mumbai. The company clarified that discussions will be limited to publicly available information without any unpublished price-sensitive information (UPSI). With a current market capitalization of ₹10,844 Cr and TTM revenue of ₹664 Cr, this represents a standard institutional outreach event.
- Participation scheduled for September 22, 2026, starting at 10:00 AM onwards
- Format involves 1x1 and group meetings at the Anand Rathi Conference in Mumbai
- Company confirmed that no unpublished price sensitive information (UPSI) will be discussed
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
Company profilewritten 13 Nov 2025
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.
