Sri Lotus Developers & Realty has appointed one of its subsidiaries as the developer for a premium residential re-development project located at Model Town, Versova, Andheri (W), Mumbai.

Project overview

The selection of the subsidiary marks a significant business development for Sri Lotus Developers & Realty. The project is categorised as a premium residential redevelopment in the Versova area of Mumbai. It aims to offer high-end living spaces featuring world-class design and unmatched amenities.

The redevelopment segment in Mumbai has been an active area for real estate companies, with the city's dense urban fabric creating ongoing demand for such projects. The appointment of the subsidiary reflects the group's continued presence in the Mumbai real estate market.

This development is expected to further strengthen the company's presence in the luxury real estate segment and enhance long-term stakeholder value. Additional information about the project will be disclosed in due course.

Sri Lotus Developers & Realty has recommended a final dividend of ₹0.50 per equity share for the financial year 2025-26. The Board of Directors also fixed the date for the 12th Annual General Meeting (AGM) and recommended the appointment of Mr. Paarth Deepak Chheda as an Executive Director.

The board meeting was held on September 1, 2026. The company also confirmed an interim dividend of ₹0.30 per share for FY27, with shareholders registered as of September 11, 2026, eligible to receive the payout.

Dividend Details

The Board approved the first interim dividend at a rate of 30%, translating to ₹0.30 per share of face value ₹1 each for FY27. The record date for determining eligible equity shareholders is set for Friday, September 11, 2026.

For FY26, the company proposed a final dividend of 50%, or ₹0.50 per equity share of face value ₹1 each. The record date for this final dividend is fixed for Friday, September 25, 2026. This payment is subject to shareholder approval at the upcoming AGM and applicable tax deductions at source.

AGM and Corporate Governance

The 12th Annual General Meeting is scheduled for Tuesday, September 29, 2026, at 11:30 am via Video Conferencing or Other Audio-Visual Means. The notice convening the AGM and the annual report for FY26 will be dispatched electronically to shareholders in due course.

CS Sandhya R. Malhotra, Partner at Manish Ghia & Associates, has been appointed as the scrutinizer for the voting process at the AGM.

Board Appointment Recommendation

The Board recommends the appointment of Mr. Paarth Deepak Chheda (DIN: 06430713) as an Executive Director for a period of five consecutive years, commencing from October 1, 2026. This recommendation follows a shareholder notice under Section 160 of the Companies Act, 2013, and is pending shareholder approval at the AGM.