Sri Lotus FY26 PAT Rises 6.8%; Pre-sales Surge 137% YoY
Sri Lotus Developers & Realty Limited reported a 6.8% rise in FY26 PAT to INR 243 Crs and a 137% surge in pre-sales to INR 1,157 Crs. Q4 revenue grew 62% YoY to INR 308 Crs. The Board recommended a 50% dividend, which promoters waived. Management guided for FY27 pre-sales of INR 1,800-2,000 Crs and revenue growth of 55-60%.
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Sri Lotus Developers & Realty Limited reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors convened a meeting on Tuesday, May 12, 2026, to approve the results. The statutory auditors, M/s. T. P. Ostwal & Associates LLP, issued an audit report with an unmodified opinion on both standalone and consolidated financial statements. Subsequently, the company also made available the audio recording of its Q4FY26 earnings call, held on May 13, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Consolidated Financial Performance
The company delivered a strong consolidated performance for the fiscal year 2026. Revenue from operations for FY26 stood at ₹7,689.51 Mn, a significant increase from ₹5,496.82 Mn in the previous year. Profit after tax (PAT) for the year rose to ₹2,433.03 Mn compared to ₹2,278.86 Mn in FY25. For the quarter ended March 31, 2026, the company reported consolidated net profit of ₹955.8M against ₹858M in the same quarter of the prior year, while Q4 revenue came in at ₹3.07B versus ₹1.9B year-on-year.
The following table summarises the consolidated financial results:
| Metric | Q4 FY26 (Audited) | FY26 (Audited) | Q4 FY25 (Unaudited) | FY25 (Audited) |
|---|---|---|---|---|
| Revenue from Operations (₹ Mn) | 3,074.98 | 7,689.51 | 1,900.30 | 5,496.82 |
| Total Income (₹ Mn) | 3,220.33 | 8,187.17 | 1,981.34 | 5,692.77 |
| Total Expenses (₹ Mn) | 1,871.31 | 4,919.71 | 815.83 | 2,624.55 |
| Profit Before Tax (₹ Mn) | 1,349.02 | 3,267.46 | 1,165.51 | 3,068.22 |
| Profit After Tax (₹ Mn) | 1,009.22 | 2,433.03 | 858.98 | 2,278.86 |
| Basic EPS (₹) | 1.96 | 5.04 | 1.97 | 5.51 |
Net profit attributable to owners of the parent for FY26 was ₹2,370.85 Mn. Paid-up equity share capital as of March 31, 2026, was ₹488.72 Mn, with other equity at ₹18,622.07 Mn.
EBITDA Performance
On an operational profitability basis, the company's Q4 EBITDA stood at ₹1.2B compared to ₹1.09B in the same quarter of the previous year, reflecting year-on-year growth. However, the Q4 EBITDA margin contracted to 39.44% from 57.42% year-on-year, indicating that while absolute profitability improved, higher revenue scale and cost base led to margin compression during the quarter.
| Metric | Q4 FY26 | Q4 FY25 (YoY) |
|---|---|---|
| EBITDA (₹) | 1.2B | 1.09B |
| EBITDA Margin (%) | 39.44% | 57.42% |
| Consolidated Net Profit (₹) | 955.8M | 858M |
| Revenue (₹) | 3.07B | 1.9B |
Key Business Metrics
The company's newspaper advertisement published on May 14, 2026, highlighted strong pre-sales and revenue performance for both Q4 and the full fiscal year. The following table captures the key advertised business metrics:
| Metric | Q4 FY26 | YoY Growth | FY26 | YoY Growth |
|---|---|---|---|---|
| Pre-sales | INR 462 Crs. | 117% | INR 1,157 Crs. | 137% |
| Revenue | INR 308 Crs. | 62% | INR 769 Crs. | 40% |
| PAT | INR 101 Crs. | 17% | INR 243 Crs. | 7% |
Standalone Financial Performance
On a standalone basis, revenue from operations for FY26 was ₹1,427.60 Mn, down from ₹3,872.22 Mn in the prior year. Standalone PAT for FY26 was ₹1,004.85 Mn compared to ₹1,961.38 Mn in FY25. For the quarter ended March 31, 2026, standalone PAT was ₹278.56 Mn.
| Metric | Q4 FY26 (Audited) | FY26 (Audited) | Q4 FY25 (Unaudited) | FY25 (Audited) |
|---|---|---|---|---|
| Revenue from Operations (₹ Mn) | 375.00 | 1,427.60 | 1,424.26 | 3,872.22 |
| Total Income (₹ Mn) | 496.37 | 1,845.46 | 1,496.94 | 4,024.94 |
| Total Expenses (₹ Mn) | 120.35 | 494.24 | 480.01 | 1,383.17 |
| Profit After Tax (₹ Mn) | 278.56 | 1,004.85 | 748.96 | 1,961.38 |
| Basic EPS (₹) | 0.57 | 2.14 | 1.72 | 4.75 |
Dividend Recommendation
The Board of Directors recommended a final dividend of 50%, or ₹0.50 per equity share of face value ₹1 each, for the financial year 2025-26. This dividend is subject to shareholder approval at the ensuing Annual General Meeting. Notably, Promoter and Promoter Group shareholders, holding 81.87% of the total equity shares, voluntarily waived their right to receive the dividend.
Corporate Developments
During the quarter, the company incorporated five wholly owned subsidiaries: Sri Lotus Elegancia Realty Private Limited, Sri Lotus Legacy Realty Private Limited, Sri Lotus Marquee Projects Private Limited, Sri Lotus Imperial Projects Private Limited, and Sri Lotus Grand Abodes Private Limited. These entities will be engaged in real estate development.
Management Commentary and Outlook
During the Q4FY26 earnings call, management highlighted strong demand in the luxury and ultra-luxury segments, supported by robust end-user demand and interest from HNIs and NRIs. The company launched its "Luxury Coastline Collection" brand campaign, covering 11 marquee projects across Mumbai's coastal locations. For FY26, the company added nine new projects with a cumulative GDV of approximately INR8,500 crores to INR9,000 crores.
Management provided guidance for FY27, targeting pre-sales in the range of INR1,800 crores to INR2,000 crores, along with revenue growth of 55% to 60% and PAT growth of 55% to 60%. The company plans to launch six projects in FY27 with an estimated GDV of INR5,000 crores to INR5,500 crores. Regarding costs, management noted a moderate increase in input and labor costs, approximately 7% and 5% respectively, which may translate to a 1% to 2.5% increase in overall project costs. Net cash as of March 31, 2026, stood at INR697 crores.
How will Sri Lotus Developers sustain its targeted 55-60% revenue and PAT growth in FY27 given the EBITDA margin compression from 57.42% to 39.44% in Q4 FY26?
With five new wholly owned subsidiaries incorporated and six project launches planned for FY27, how might Sri Lotus manage execution risk and capital allocation across its expanding project pipeline?
Given that promoters voluntarily waived their dividend rights while holding 81.87% equity, what does this signal about the company's capital reinvestment strategy and future fundraising plans?
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