Sri Lotus Developers & Realty Limited has reported the utilization of ₹95.27 crore from its Initial Public Offer (IPO) proceeds during the quarter ended September 30, 2025. The company, which raised ₹792 crore through its IPO conducted from July 30 to August 1, 2025, has provided a detailed breakdown of the funds' deployment in its latest monitoring agency report.

Investment in Subsidiaries

A significant portion of the utilized funds, amounting to ₹143.71 crore, was invested in three of the company's subsidiaries:

• Richfeel Real Estate Private Limited
• Dhyan Projects Private Limited
• Tryksha Real Estate Private Limited

These investments are earmarked for construction and development costs of ongoing projects: Amalfi, The Arcadian, and Varun.

Project-wise Utilization

Other Expenditures

• ₹5.00 crore was allocated for advance tax payments for the assessment year 2026-2027.
• ₹53.33 crore was utilized for issue-related expenses, including professional services, advertisement, travel costs for IPO roadshows, and legal services.

Unutilized Funds

The monitoring agency, CARE Ratings Limited, reported that ₹696.73 crore of the IPO proceeds remain unutilized. These funds have been deployed in fixed deposits and current accounts.

Compliance and Monitoring

The report, submitted in compliance with SEBI regulations, confirms that there has been no deviation from the stated objectives of the IPO. The company's use of funds aligns with its growth strategy and commitment to project development.

Sri Lotus Developers & Realty Limited's focus on residential and commercial real estate projects in Mumbai is evident from the allocation of funds to key ongoing projects. The company's investments in its subsidiaries for project development underscore its commitment to expanding its presence in the luxury and ultra-luxury segments of the real estate market.

As the real estate sector continues to evolve, Sri Lotus Developers' utilization of IPO proceeds positions it for future growth and project completion in line with its stated timelines.

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.