Post the issue, the promoter holding in Sri Lotus Developers will come down to 81.9% from 91.81% currently.
About The Company
The Mumbai-based company is a developer of residential and commercial properties. It primarily focuses on redevelopment projects in the ultra-luxury and luxury segments in the western suburbs of Mumbai.Sri Lotus Developers’ strategy includes aggressive land aggregation via joint development agreements and MD models, and focus on luxury redevelopment in high-value markets in Mumbai. The IPO funds will be used to accelerate this project pipeline over the next 24 months.
The company currently has 13 ongoing or upcoming projects in the western suburbs with a saleable area of 16.9 lakh square feet. It plans to expand its presence in other micro-markets in southern and central regions of Mumbai, such as Nepean Sea Road and Prabhadevi.
As many as 54% of its projects are redevelopment ones, while the remaining 46% are greenfield ones.
Sri Lotus Financials
The company has witnessed continued growth in the last three years. It reported a profit after tax (PAT) of ₹228 crore in financial year 2025, compared to ₹119 crore and ₹17 crore in FY24 and FY23, respectively.
It reported a revenue of ₹550 crore in the previous financial year, in comparison to ₹462 crore in FY24 and ₹167 crore in FY23.
Its EBITDA margin expanded to 52.6% in FY25, compared to 34.2% and 12.8% in the previous two fiscal years.
Should You Subscribe?
Angel One has a “subscribe for long-term” recommendation on Sri Lotus Developers and Realty.
It expects India’s real estate market to reach $1 trillion by 2030, growing at a Compounded Annual Growth Rate (CAGR) of 9.5% during this period, driven by rising incomes, better affordability an infrastructure development.
Key risks here include the high geographic concentration in the Western suburbs of Mumbai, reliance on timely regulatory approval, dependance on commercial revenue and limited brand visibility, along with execution challenges.
Bajaj Broking also has a “subscribe for long-term” rating on Sri Lotus, stating that it enjoys a numero uno status in the ultra-luxury / luxury residential and commercial complexes in and around the western suburbs.
“It structurally defines price ranges for the higher income housing market segment based on strategic research,” the brokerage wrote about the company.
Dependence on real estate micro markets, inability to complete ongoing projects and failure to sell unsold inventory are some of the key risks highlighted.
