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 filed an appeal 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. The company issued a revised intimation to stock exchanges on August 17, 2026, to correct a procedural error in its previous disclosure dated August 14, 2026.

The initial filing had incorrectly stated that the company had filed a writ petition. The revised intimation clarifies that the legal recourse taken is an appeal. All other details regarding the proceedings remain unchanged from the earlier disclosure.

Legal Proceedings Update

The appeal was filed in response to the order dated June 18, 2026, issued by the Assistant Commissioner of State Tax, Investigation – B, Mumbai. The company had previously informed the stock exchanges about receiving this order on April 28, 2026, and June 18, 2026.

The company stated it will continue to take appropriate legal recourse in the matter and remain committed to ensuring compliance with applicable laws and regulations. Further material developments will be intimated to the stock exchanges in due course.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.