Sri Lotus Developers & Realty , a prominent player in the real estate sector, has announced its appointment as the developer for a prestigious re-development project in one of Mumbai's most sought-after locations. The project, situated in the heart of Bandra West near the iconic Bandstand Promenade, aims to redefine luxury living in the bustling metropolis.

Project Highlights

• Location: Heart of Bandra West, near Bandstand Promenade
• Vision: Ultra-luxury development with world-class design
• Features: Premium amenities and an exclusive address

Company's Ambition

Sri Lotus Developers & Realty has set its sights on creating a landmark property that will stand out in Mumbai's competitive real estate market. The company's goal is to offer a living experience that embodies exclusivity and sophistication, catering to the discerning tastes of high-end property buyers.

Project Details

While specific details about the project are yet to be disclosed, the company has emphasized its commitment to delivering:

1. World-class design
2. Unmatched amenities
3. An address that epitomizes premium living

The strategic location near the Bandstand Promenade, known for its scenic beauty and celebrity residences, adds significant value to the project's appeal.

Market Implications

This appointment marks a significant milestone for Sri Lotus Developers & Realty, potentially strengthening its position in the ultra-luxury real estate segment. The Bandra West area, known for its upscale neighborhoods and proximity to the sea, continues to be one of Mumbai's most desirable residential locations.

Future Disclosures

In compliance with regulatory requirements, Sri Lotus Developers & Realty has informed the stock exchanges about this development. The company has stated that additional project details will be disclosed in due course, maintaining transparency with its investors and the market at large.

As Mumbai's real estate market continues to evolve, particularly in the luxury segment, this project by Sri Lotus Developers & Realty is poised to attract significant attention from both potential buyers and industry observers. Stakeholders will be keenly awaiting further details on this ultra-luxury development that promises to set new benchmarks in premium living.

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

Corporate Developments

During their recent board meeting, Sri Lotus Developers approved several key matters:

1. The Board reviewed and approved the unaudited financial results for Q1.
2. 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:

1. The Arcadian (Juhu)
2. Amalfi (Versova)
3. 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.