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.

Sri Lotus Developers & Realty Limited (SLDRL), a prominent player in the Indian real estate sector, has announced the incorporation of two new wholly owned subsidiaries, marking a significant expansion of its operations.

Rise Root Projects: The Latest Addition

SLDRL incorporated Rise Root Projects Private Limited as its wholly owned subsidiary. This new entity, with a Corporate Identification Number U68200MH2025PTC460489, is set to focus on real estate development and redevelopment of residential and commercial projects.

Key Details of Rise Root Projects

Arahan Projects: Another Strategic Move

SLDRL had also incorporated Arahan Projects Private Limited as another wholly owned subsidiary. This entity, with the Corporate Identification Number U68200MH2025PTC460282, shares similar characteristics with Rise Root Projects.

Expansion Strategy

Both subsidiaries are poised to expand SLDRL's presence in the real estate sector, focusing on development and redevelopment of residential and commercial projects. The company's decision to create these subsidiaries suggests a strategic move to diversify and strengthen its market position.

Financial Implications

The incorporation of these subsidiaries involved a cash consideration of Rs. 10.00 lakh each, totaling an investment of Rs. 20.00 lakh by SLDRL. This move does not fall under related party transactions, and no governmental or regulatory approvals were required for these acquisitions.

Future Outlook

While both Rise Root Projects and Arahan Projects are yet to commence business operations, their incorporation signals SLDRL's intent to capitalize on opportunities in the real estate market. The company's expansion through these wholly owned subsidiaries may potentially lead to increased project capacity and market reach.

As the real estate sector continues to evolve, SLDRL's strategic expansion through these new subsidiaries could position the company for growth in various segments of the property market. Investors and industry observers will be keen to watch how these new entities contribute to SLDRL's overall business strategy and performance in the future.