Sri Lotus Developers and Realty Ltd

Sri Lotus Developers and Realty Ltd has issued a revised intimation to correct an inadvertent error in a previous filing dated August 14, 2026. The company clarifies that it has filed an 'Appeal' before the Deputy Commissioner of State Tax (Appeals - IV), Mumbai, Maharashtra, challenging an order from the Assistant Commissioner of State Tax. This correction replaces the term 'writ petition' with 'Appeal' wherever it appeared in the prior intimation. The company is pursuing legal recourse against the tax order and will provide further updates as necessary.

Sri Lotus Developers & Realty Limited has been appointed as the preferred developer for a significant residential redevelopment project at Shivaji Park Beach Front, Dadar. The project boasts an estimated Gross Development Value (GDV) of INR 550 Crores and a saleable area of approximately 44,000 sq. ft. Located in a prime area with unobstructed sea views, the project is expected to commence by the end of FY28 or Q1 FY29 and will take approximately 3 to 3.5 years to complete. This appointment highlights the company's growing brand strength and acceptance among housing societies in high-value Mumbai micro-markets, aligning with their strategy to expand their 'Coastline Luxury Collection'.

Sri Lotus Developers and Realty Ltd has filed a writ petition before the Deputy Commissioner of State Tax, (Appeals - IV), Mumbai, challenging an order received from the Office of the Assistant Commissioner of State Tax, Investigation – B, Mumbai. This order pertains to alleged tax liabilities, interest, and penalties for FY 2020-21, 2021-22, and 2023-24, amounting to significant sums for CGST, SGST, and penalties. The company disputes the tenability of the demand and is pursuing legal recourse. This action follows previous intimations regarding a Show Cause Notice and the subsequent order received.

Sri Lotus Developers and Realty Ltd announced that one of its subsidiaries has been appointed as the developer for a significant residential re-development project located at Shivaji Park Beach Front. The project will feature premium residential spaces with high-end design and amenities, aiming to enhance the company's standing in the luxury real estate market and boost stakeholder value. Further details about the project will be disclosed in due course.

Sri Lotus Developers and Realty Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited. The report confirms that the utilization of proceeds from the company's Initial Public Offer (IPO), which raised Rs. 792 crore, has been in line with the stated objects. The monitoring agency reviewed various documents including CA certificates, management certificates, invoices, and bank statements to ascertain the proper utilization of funds. There were no deviations reported from the objects of the issue during the specified quarter.

Sri Lotus Developers & Realty Ltd, through its subsidiary, has been appointed as the Developer for a significant commercial-cum-retail redevelopment project in Juhu, Mumbai. The project involves transforming a prominent shopping complex into a premium development with an estimated carpet area of 3.46 lakh sq. ft. and a Gross Development Value (GDV) of ₹1,600 crore. Construction is slated to begin in Q3 FY28, with completion expected within 3-4 years. This appointment is expected to bolster the company's redevelopment portfolio and strengthen its position in Mumbai's premium commercial real estate market. The company's CMD highlighted the growing momentum in commercial redevelopment and Juhu's potential due to limited supply.

Sri Lotus Developers and Realty Ltd announced that one of its subsidiaries has been appointed as the developer for a significant commercial re-development project in Juhu. The project aims to create world-class commercial spaces with premium amenities, targeting exclusivity and sophistication. This strategic development is anticipated to boost long-term stakeholder value. Further details regarding the project will be disclosed in due course.

Sri Lotus Developers & Realty Limited reported a strong first quarter for FY27, with pre-sales soaring 567% year-on-year to INR 409 Crores. The company launched two projects, Lotus Trident and Lotus Aquaria, with a combined GDV of INR 1,350 Crores, both showing good initial traction. Collections increased by 115% YoY to INR 150 Crores, and total revenue grew 116% YoY to INR 132 Crores. EBITDA stood at INR 48 Crores (up 63% YoY) with a healthy EBITDA margin of 36.4%. Profit After Tax (PAT) rose 77% YoY to INR 46 Crores. The company reaffirmed its FY27 pre-sales guidance of INR 1,800–2,000 Crores and plans to launch four more projects with an estimated GDV of INR 3,500–4,000 Crores. The company highlighted its net debt-free balance sheet and capital-efficient platform.

Sri Lotus Developers and Realty Ltd announced the outcome of its Board meeting held on August 03, 2026. The Board approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The financial results, along with the Limited Review Report from the Statutory Auditors, have been submitted and will be made available on the company's website. The meeting commenced at 09:50 A.M. (IST) and concluded at 10:30 A.M. (IST). The company was formerly known as AKP Holdings Limited.

Sri Lotus Developers opened FY27 with consolidated revenue of ₹132.35 Cr, up 115.8% year-on-year from the ₹61.32 Cr Q1 FY26 base, and consolidated PAT of ₹45.72 Cr, up 77.3% YoY from ₹25.79 Cr. Both lines ran ahead of the 55–60% revenue/PAT growth the company guided for FY27 on its Q4 concall, and comfortably beat the only public preview on record (Univest's trailing-growth projection of ₹95–109 Cr revenue / ₹27–34 Cr PAT) — so the print confirms rather than contradicts management's bullish stance. As a project-completion-basis luxury developer, revenue and profit are lumpy: the sharp ~57% revenue and ~55% PAT drop versus the seasonally heavy Q4 FY26 (₹307.50 Cr revenue, ₹100.92 Cr PAT) is a sequencing artifact of recognition timing, not deterioration — YoY is the right lens here. The one soft spot is margin mix: net margin (PAT/total income) held flat sequentially at 31.3% but compressed from 37.9% a year ago, so profit grew slower than revenue — the drag sits on cost of construction and lower operating leverage on a smaller recognition quarter rather than any one-off. There are no exceptional items on either side, so reported and underlying growth are the same. Corporate activity in the quarter was portfolio housekeeping consistent with the growth plan — completion of a wholly-owned subsidiary share acquisition, a ₹2.97 Cr rights-issue investment into subsidiaries, and the April-2026 ESOP grant of ~48.9 lakh options at ₹75 — while a ₹4.1 Cr GST demand order sits outside the P&L as a contingent item. Standalone numbers (₹10 Cr operating revenue, ₹6.62 Cr PAT) reflect only the holding entity and materially understate the group; consolidated is the correct basis and readers should anchor on it.