Sri Lotus Developers & Realty , a prominent luxury real estate developer in Mumbai, has announced robust growth projections and significant project launches. The company's recent financial results and strategic initiatives highlight its strong position in the premium real estate market.

Strong Financial Performance and Growth Projections

Sri Lotus Developers reported impressive financial results for the recent quarter:

• Pre-sales surged to ₹257.00 crore, marking a substantial 126% year-on-year growth.
• Revenue stood at ₹176.10 crore, up 44% from the previous year.
• Profit After Tax (PAT) reached ₹46.40 crore.

For the first half of the fiscal year, the company achieved:

• Pre-sales of ₹319.00 crore, a 50% year-on-year increase.
• Revenue of ₹237.40 crore.
• PAT of ₹72.20 crore.

Looking ahead, Sri Lotus Developers has provided ambitious guidance:

Strategic Project Launches and Expansion

The company launched two key projects in September:

1. The Arcadian (Juhu): Received bookings of ₹92.00 crore within the first week.
2. Amalfi (Versova): Secured bookings of ₹38.00 crore in its initial week.

These projects, with a combined saleable carpet area of approximately 1.8 lakh sq. ft., have an estimated Gross Development Value (GDV) of about ₹1,000.00 crore.

Sri Lotus Developers plans to launch four new projects in the second half of the fiscal year:

1. Project Varun (Bandra)
2. Lotus Aquaria (Prabhadevi)
3. Lotus Celestial (Versova)
4. Lotus Trident (Andheri West)

Expanding Project Pipeline

The company has significantly expanded its project portfolio in the first half, adding six new projects:

• Development Agreements executed for:

  1. Lotus Portofino (Versova)
  2. Lotus Sky Plaza (Oshiwara)
  3. Lotus Odyssey (Bandra)

• Appointed as preferred developer for:

  1. Lotus Avalon (Juhu)
  2. Lotus Imperial (Bandra)
  3. Lotus Upper Crest (Bandra)

Strong Financial Position

As of September, Sri Lotus Developers maintains a robust financial position with a net cash balance of ₹851.00 crore. This solid financial foundation supports the company's aggressive growth and expansion plans.

Market Outlook and Strategy

Anand Pandit, Chairman & Managing Director, commented on the company's performance and outlook: "We continue to strengthen our presence across our core micro-markets, while simultaneously expanding in newer precincts such as Bandra and Prabhadevi. The brand acceptance of Lotus Developers is clearly visible in our growing Business Development pipeline."

The company's combined GDV for ongoing and upcoming projects stands at approximately ₹13,000.00 to 14,000.00 crore, indicating a substantial pipeline for future growth.

Sri Lotus Developers remains confident in achieving its targets, citing sustained demand for premium redevelopment in its key markets and a strong balance sheet position.

As the company continues to capitalize on the growing demand for luxury real estate in Mumbai's prime locations, it appears well-positioned to maintain its growth trajectory in the coming quarters.

Sri Lotus Developers & Realty , a prominent luxury and ultra-luxury real estate developer in Mumbai, has reported a robust financial performance for the second quarter, marked by significant growth in profit and pre-sales.

Financial Highlights

• Pre-sales reached INR 257.00 crores, growing 126% year-on-year
• Collections for the quarter stood at INR 106.00 crores
• Revenue was INR 176.00 crores, up 44% YoY
• Profit for the period was INR 46.00 crores

New Project Launches

The quarter was marked by two significant project launches:

1. The Arcadian (Juhu): Received bookings of INR 92.00 crores within the first week of launch
2. Amalfi (Versova): Garnered bookings of INR 38.00 crores in its initial week

These successful launches contributed to the company's strong pre-sales performance and demonstrate the market's positive response to Sri Lotus Developers' projects.

Future Outlook

Sri Lotus Developers plans to launch four new projects in the second half:

1. Project Varun
2. Lotus Aquaria
3. Lotus Celestial
4. Lotus Trident

The company maintains its annual guidance of:

• INR 1,100.00-1,300.00 crores in pre-sales
• 75-85% YoY revenue growth
• 30-35% YoY profit growth

Additional Corporate Developments

• Sri Lotus added six new projects during the current year
• The company holds a net cash position of INR 851.00 crores

Sri Lotus Developers' quarterly results reflect the company's strong position in the luxury real estate segment of Mumbai, with significant growth in financials and pre-sales, successful new project launches, and an optimistic outlook for future expansion.