Sri Lotus Developers shares rise 4% as it enters Gujarat with GIFT City project
Sri Lotus Developers & Realty shares gained over 4% after announcing a large-scale development project in GIFT City, Gujarat, in partnership with Abhishek Bachchan. The project spans over 1 million square feet and includes premium retail, Grade-A commercial offices, and high-end residential units, marking the company's first venture outside Mumbai.
*this image is generated using AI for illustrative purposes only.
Sri Lotus Developers & Realty shares gained over 4% on Wednesday following the announcement of a significant partnership with Bollywood actor Abhishek Bachchan for a large-scale development project in GIFT City, Gujarat. This collaboration marks the Mumbai-based developer's strategic expansion outside its home market.
Stock Performance and Market Response
Shares of the company settled at ₹167.42 apiece on the NSE, representing a 4.20% gain from the day's opening. The positive market response reflects investor confidence in the company's expansion strategy into Gujarat's premier business district.
| Market Data: | Details |
|---|---|
| Closing Price: | ₹167.42 |
| Daily Gain: | 4.20% |
| Market Cap: | ₹8,251.61 crore |
| Sector: | Realty |
Project Details and Strategic Partnership
The company has signed a Development Agreement with Abhishek Bachchan for the redevelopment project, which will be executed through its subsidiary, Rise Root Projects Pvt. Ltd. The project spans a built-up area of over 1 million square feet in GIFT City, Gandhinagar.
| Project Overview: | Specifications |
|---|---|
| Location: | GIFT City, Gandhinagar |
| Built-up Area: | Over 1 million sq. ft. |
| Celebrity Partner: | Abhishek Bachchan |
| Execution Entity: | Rise Root Projects Pvt. Ltd. |
| Business Model: | Profit-sharing arrangement |
Development Components and Market Strategy
The project will include premium retail spaces, Grade-A commercial office spaces, and high-end residential units. This mixed-use development is designed to meet rising demand from financial institutions, fintech companies, and IT/ITeS firms operating in GIFT City, which is positioning itself as a global financial and business hub.
The agreement follows a profit-sharing model, allowing Sri Lotus to adopt an asset-light strategy while leveraging its expertise in design, planning, development, and execution. This approach is expected to improve capital efficiency as the company expands into the high-growth Gujarat real estate market.
Leadership Commentary and Recent Developments
Anand K Pandit, Chairman and Managing Director of Sri Lotus Developers & Realty Ltd, commented that the company has expanded to the GIFT City area to meet rising demand for premium and ultra-luxury residential and commercial spaces.
Earlier this week, the company also signed a redevelopment project in Lokhandwala, Andheri (West), further strengthening its presence in the luxury real estate segment. The company listed on BSE and NSE in August, raising ₹792 crore via a heavily oversubscribed initial public offering (IPO).
