Sri Lotus Developers Reports Q1 Results, Provides Strong Growth Guidance
Sri Lotus Developers & Realty reported Q1 consolidated revenue of ₹61.00 crores and profit after tax of ₹26.00 crores. The company achieved pre-sales of ₹61.00 crores and collections of ₹70.00 crores. Three new projects are set to launch by September with an estimated gross development value of ₹1,400.00-1,500.00 crores. The company maintains a net debt-free status with a net cash balance of ₹905.00 crores. Management provided guidance for strong growth in pre-sales, revenue, and profit after tax for the financial year.
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Sri Lotus Developers & Realty , a prominent player in the real estate sector, has released its financial results for the first quarter, revealing a strong performance and optimistic future outlook.
Financial Highlights
The company reported a consolidated revenue of ₹61.00 crores for Q1, with a profit after tax of ₹26.00 crores. Sri Lotus Developers achieved pre-sales of ₹61.00 crores and collections of ₹70.00 crores during the quarter.
Key Financial Metrics
| Particulars (in crores) | Q1 |
|---|---|
| Revenue | 61.00 |
| Profit After Tax | 26.00 |
| Pre-sales | 61.00 |
| Collections | 70.00 |
Corporate Developments
During their recent board meeting, Sri Lotus Developers approved several key matters:
- The Board reviewed and approved the unaudited financial results for Q1.
- M/s Vishal N Manseta, a Peer Reviewed Practicing Company Secretary firm, was appointed as the Secretarial Auditors for a term of five consecutive years.
Future Projects and Growth Strategy
Sri Lotus Developers has announced three significant project launches lined up by September:
- The Arcadian (Juhu)
- Amalfi (Versova)
- Varun (Bandra)
These projects have a total saleable carpet area of 2.2 lakh sq. ft. and an estimated gross development value of ₹1,400.00-1,500.00 crores.
During the financial year, the company added four new projects through development agreements and developer appointments, further strengthening its project pipeline.
Management Guidance
The management has provided robust growth guidance:
- Pre-sales between ₹1,100.00-1,300.00 crores (125-165% year-on-year growth)
- Revenue growth of 75-85%
- Profit after tax growth of 30-35%
Financial Position
Sri Lotus Developers maintains a net debt-free status with a net cash balance of ₹905.00 crores, indicating a strong financial position.
Management Commentary
Chairman Anand K Pandit highlighted the company's recent milestone of being listed on the stock exchange on August 6. He expressed confidence in achieving the company's targets through their redevelopment-focused business model in Mumbai's luxury real estate segment.
Market Context
Sri Lotus Developers' strong Q1 performance and optimistic guidance suggest a positive outlook for the company in the luxury real estate market of Mumbai. The company's focus on redevelopment projects and its robust project pipeline indicate potential for sustained growth.
As Sri Lotus Developers continues to expand its presence in the premium real estate segment, investors and market watchers will be keen to see how the company executes its growth strategy and capitalizes on the opportunities in Mumbai's luxury real estate market.
Historical Stock Returns for Sri Lotus Developers & Realty
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.23% | +1.22% | -3.68% | -3.68% | -3.68% | -3.68% |
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