Sri Lotus Developers and Realty Limited has received an order in Form GST DRC-07 from the Office of the Assistant Commissioner of State Tax, Mumbai, pertaining to FY 2020-21, 2021-22, and 2023-24. The order, issued under Section 74 of the Central Goods and Services Tax (CGST) Act, 2017 and the Maharashtra Goods and Services Tax (MGST) Act, 2017, follows a Show Cause Notice dated April 28, 2026. The company believes the demand is not tenable and is in the process of filing an appeal against the same.

The order relates to Veer Savarkar Projects Private Limited, which merged with Sri Lotus Developers and Realty Limited pursuant to an order dated October 30, 2024. The communication was received on June 18, 2026, and disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The order details an alleged liability involving tax, interest, and penalty. The company has already paid the tax component of the liabilities under protest. The table below outlines the financial implications as per the order.

Company Response

Sri Lotus Developers and Realty Limited stated that there is no material impact on its financials, operations, or other activities due to the said order. The company is preparing to file an appeal with the Appellate Authority within the prescribed timeline. The appeal will include all necessary information, supporting documents, and representations to contest the demand and claims raised by the tax authority.

Sri Lotus Developers and Realty Limited has scheduled meetings with analysts and institutional investors on June 11, June 16, and June 19, 2026, to discuss business performance and outlook. The company officials will attend these sessions to discuss business performance based on publicly available information. No unpublished price sensitive information (UPSI) is intended to be shared during these interactions.

The first meeting is scheduled as a virtual group meeting on June 11, 2026, from 16:00 PM to 17:00 PM IST. This session is organized by Choice Broking. The second engagement is set for June 16, 2026, starting at 10:00 AM onwards, which will be a 1x1 or group meeting held in person in Mumbai. Systematix Group is the organizer for this event. An additional group visit is scheduled for June 19, 2026, starting at 9:00 am onwards in Mumbai.

The disclosure was submitted to the exchanges pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015. The company noted that changes to the schedule may occur due to exigencies on the part of the host or the company.