Real estate developer Sri Lotus Developers Ltd. delivered robust financial results for the June quarter, with consolidated net profit surging 77.6% year-on-year to ₹45.46 crore compared to ₹25.61 crore in the corresponding quarter last year. According to reports from Business Upturn, the company's revenue from operations more than doubled to ₹132.35 crore from ₹61.32 crore in the same period last year, demonstrating strong top-line growth momentum. The stock responded positively to the results, with Sri Lotus Developers shares rising 1.10% to ₹202.20 following the announcement.
At the operational level, Sri Lotus Developers showed strong performance with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 63.4% year-on-year to ₹48.14 crore from ₹29.46 crore in the previous year. However, as reported by Business Upturn, the EBITDA margin contracted by 1,200 basis points year-on-year to 36.4% in the June quarter, indicating some pressure on profitability despite the absolute EBITDA growth. Profit before tax stood at ₹60.90 crore, up 72% from ₹35.33 crore in Q1 FY26, showing strong operational performance across all profitability metrics.
In a significant development, Sri Lotus Developers has announced a major commercial redevelopment project in Mumbai's Juhu area. As reported by The Economic Times, the company has been appointed as the developer for a commercial-cum-retail redevelopment project with an estimated revenue of ₹1,600 crore. The proposed redevelopment will comprise a premium commercial and retail development with an estimated total carpet area of 3.46 lakh square feet, expected to commence in the third quarter of FY28 and complete within 3-4 years from commencement. This project adds to the company's existing portfolio of 4 completed projects aggregating over 4.2 lakh sq. ft. of carpet area.
The company demonstrated exceptional sales momentum with presales reaching ₹409 crore, up 567% year-on-year, while collections aggregated to ₹150 crore, up 115% year-on-year for Q1 FY27. According to Business Upturn, the company launched two new projects during the quarter - Lotus Trident in Andheri West and Lotus Aquaria in Prabhadevi - with a combined gross development value (GDV) of ₹1,350 crore. For the full fiscal year, Sri Lotus Developers has guided for pre-sales of ₹1,800-2,000 crore and expects revenue and PAT to grow by 55-60% year-on-year.
Looking ahead, Sri Lotus Developers has outlined an ambitious expansion plan with four new projects planned for launch in the remaining part of FY27, carrying an estimated combined GDV of ₹3,500-4,000 crore. As reported by Business Upturn, Chairman & Managing Director Anand K Pandit highlighted the strong business momentum, stating that "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." The company currently has 8 ongoing and 14 upcoming projects covering 44.4 lakh sq ft of carpet area and 35.4 lakh sq ft of saleable area, positioning it well for continued growth in the premium real estate segment.
