Sri Lotus Developers and Realty Limited – Investor Presentation Summary

Key Operational Highlights

  • Q1 FY27 pre-sales increased 567% YoY to INR 409 Cr, driven by sustained success of recently launched projects.
  • Two new residential projects launched in Q1 FY27: Lotus Trident in Andheri West (GDV INR 800 Cr) and Lotus Aquaria in Prabhadevi (GDV INR 550 Cr).
  • Construction has commenced on both new projects, with strong initial customer interest and healthy enquiry pipelines.
  • The company plans to launch four new projects in the remainder of FY27: Lotus Aurelia, Lotus Sky Plaza, Lotus Portofino, and Lotus Odyssey with combined GDV of INR 3,500-4,000 Cr.

Segment-wise Performance

  • The company operates exclusively in the real estate development sector, focusing on luxury and ultra-luxury residential and commercial properties in Mumbai.
  • Performance is driven by project launches in premium micro-markets including Juhu, Versova, Andheri West, Prabhadevi, and Bandra West.

Financial Highlights

Revenue: Rs. 132 Cr (Q1 FY27)

EBITDA: Rs. 48 Cr (Q1 FY27)

PAT: Rs. 46 Cr (Q1 FY27)

EBITDA Margin: 36.4% (Q1 FY27)

PAT Margin: 34.5% (Q1 FY27)

YoY comparison: Revenue increased 116% from INR 61 Cr in Q1 FY26, EBITDA increased 63% from INR 29 Cr, PAT increased 77% from INR 26 Cr.

Drivers of financial performance: Higher revenue growth from project launches and sales, operational efficiencies.

Geographical Revenue Split

  • All operations and projects are concentrated in Mumbai metropolitan region, specifically in western suburbs and premium locations including Juhu, Versova, Andheri West, Prabhadevi, Bandra West, and Nepean Sea Road.
  • No export revenue; 100% domestic operations.

Balance Sheet Snapshot (as of March 31, 2026)

Total Equity: INR 1,918.7 Cr

Total Liabilities: INR 432.8 Cr

Total Assets: INR 2,351.5 Cr

Cash and Cash Equivalents: INR 748.8 Cr

Other Bank Balances: INR 99.8 Cr

Inventories: INR 823.9 Cr

Trade Receivables: INR 329.3 Cr

Financial Health Insights: Strong cash position post-IPO, healthy equity base, manageable debt levels.

Capex & Cash Flow Health

Capital Expenditure: Funds allocated from IPO proceeds for ongoing projects Amalfi (INR 140 Cr), The Arcadian (INR 247 Cr), and Varun (INR 136 Cr).

As of June 30, 2026, INR 271.3 Cr of the INR 550 Cr allocated had been utilized across these three projects.

Operating Cash Flow (FY26): Net cash used in operating activities was INR -325.8 Cr.

Investment Rationale: Focus on capacity expansion and completion of ongoing luxury residential projects.

Strategic & R&D Initiatives

  • Expansion into GIFT City area with flagship mixed-use project on Sabarmati river bank adjoining GIFT City, with carpet area of ~1 Mn Sq. Ft. (freehold).
  • Project involves Joint Development Agreement with profit sharing arrangement with Mr. Abhishek Bachchan.
  • Development includes premium retail, Grade-A commercial office spaces, and high-end residential units.
  • Expected commencement: Q1 FY28; Completion Timeline: FY31; Estimated GDV: INR 2,000-2,200 Cr.
  • Strong demand indicators from financial institutions and fintech firms for commercial spaces.
  • Strategic Rationale: Expanding into high-growth markets (GIFT City), leveraging brand for premium mixed-use developments.

Industry Trends & Business Environment

  • Luxury Segment (> ₹2.5 Cr) in India grew from 3% in CY21 to 22% in Q1 CY25 (per Anarock Report).
  • Mumbai Metropolitan Region (MMR) leads in launches (31-35%) and absorption (32-34%) in the real estate market.
  • Impact on Company: Benefiting from strong demand in premium housing segment, particularly in western suburbs of Mumbai.

Management Commentary & Growth Outlook

Strategic Outlook: "The first quarter of FY27 has marked a strong start for Sri Lotus Developers, with robust momentum across our business and continued healthy demand for our luxury and ultra-luxury residential portfolio." - Anand Pandit, Chairman & Managing Director

FY Guidance: ~55-60% YoY Revenue Growth for FY27; Profit After Tax Growth guidance provided but specific percentage not disclosed.

Risks and Opportunities: Focus on disciplined capital allocation, selective project acquisitions, premium micro-market positioning, and timely execution while maintaining strong balance sheet.

Project Portfolio Update

Ongoing Projects (Residential): 8 projects with total estimated GDV of ~INR 4,500-4,700 Cr

  • Includes 5 redevelopment projects, 2 joint development projects, and 1 greenfield project
  • Key projects: Lotus Amara (Juhu, 20% stake), Lotus Athena (Juhu, 9.31% stake), The Arcadian (Juhu, 100% stake, 43% sold), Amalfi (Versova, 100% stake, 62% sold), Varun (Bandra West, 100% stake, 53% sold), Lotus Aquaria (Prabhadevi, 100% stake, 4% sold), Lotus Celestia (Versova, 100% stake, 27% sold), Lotus Trident (Andheri West, 100% stake, 1% sold)

Upcoming Projects (Residential): 9 projects with estimated GDV of ~INR 7,500-7,800 Cr

Upcoming Projects (Commercial): 3 projects with estimated GDV of ~INR 4,700-5,200 Cr including Lotus Sky Plaza (Oshiwara), Lotus Nexus (Juhu), and Gift City Area Mixed Use project

Completed Projects

Residential: Ananya (Juhu, GDV INR 262 Cr, 95% sold), Ayana (Juhu, GDV INR 257 Cr, 70% sold)

Commercial: Signature (Andheri West, GDV INR 739 Cr, 100% sold), ARC ONE (Andheri West, GDV INR 405 Cr, 89% sold)

IPO Details

  • Fresh Issue of INR 792 Cr completed
  • Overall IPO oversubscribed by 74 times, with QIB category oversubscribed by 175 times
  • Use of proceeds: INR 550 Cr allocated to subsidiaries for ongoing projects (Amalfi, The Arcadian, Varun); remaining for general corporate requirements including working capital and capex