Sri Lotus Developers and Realty Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Sri Lotus Developers and Realty Ltd filed with BSE on 08 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Sri Lotus Developers and Realty reported Q1 FY27 pre-sales of INR409 crores, up 567% year-on-year, and collections of INR150 crores, up 115% year-on-year. Revenue grew 116% to INR132 crores, EBITDA rose 63% to INR48 crores at a 36.4% margin, and profit after tax increased 77% to INR46 crores at a 34.5% margin. Management also discussed two new project launches, a new commercial redevelopment win in Juhu, and reaffirmed its FY27 guidance on pre-sales, revenue and margins.
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Numbers mentioned
Pre-sales: INR409 crores (Q1 FY27)
p. 3
“Pre-sales stood at INR409 crores, up by 567% year-on-year.”
Anand Pandit, page 3 of the filed PDF · View the filing
Collections: INR150 crores (Q1 FY27)
p. 3
“Collections stood at INR150 crores, up by 115% year-on-year.”
Anand Pandit, page 3 of the filed PDF · View the filing
Profit after tax: INR46 crores (Q1 FY27)
p. 3
“Profit after tax grew 77% year-on-year to INR46 crores, at a PAT margin of 34.5%.”
Anand Pandit, page 3 of the filed PDF · View the filing
Average selling price: INR86,000 per square foot (Q1 FY27)
p. 3
“Our average selling price stood at INR86,000 per square foot, underscoring the strength of our product across the micro-markets we operate in.”
Anand Pandit, page 3 of the filed PDF · View the filing
Revenue: INR132 crores (Q1 FY27)
p. 5
“Revenue grew by 116% year-on-year to INR132 crores.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
EBITDA: INR48 crores (Q1 FY27)
p. 5
“EBITDA stood at INR48 crores, growing 63% year-on-year with a healthy EBITDA margin of 36.4%.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
Adjusted ROE: 15.5% (Q1 FY27)
p. 5
“Our adjusted ROE for the quarter stood at 15.5%.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
Cash balance: approximately INR776 crores (as of June 2026)
p. 5
“As of June 2026, we had a total cash balance of approximately INR776 crores against debt of INR153 crores, resulting in a net cash position of INR623 crores.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
Projected total surplus: approximately INR8,485 crores
p. 5
“taking the total projected surplus to approximately INR8,485 crores.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
IPO net proceeds: approximately INR732 crores
p. 5
“we raised approximately INR792 crores through fresh issue, with net proceeds after issue expenses of approximately INR732 crores.”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
IPO proceeds deployed towards subsidiary: INR271 crores (as on 30th June 2026)
p. 5
“Of the INR550 crores earmarked for our subsidiary towards Amalfi, Arcadian, and Varun, we have deployed INR271 crores as on 30th June 2026”
Sanjay Kumar Jain, page 5 of the filed PDF · View the filing
GDV of new launches: INR1,350 crores (Q1 FY27)
p. 4
“we launched two new projects, Lotus Trident in Andheri and Lotus Aquaria in Prabhadevi, together representing a combined GDV of INR1,350 crores.”
Anand Pandit, page 4 of the filed PDF · View the filing
GDV of Juhu commercial redevelopment project: INR1,600 crores
p. 4
“We were also recently appointed developer for a very, very prestigious commercial redevelopment project with an estimated GDV of INR1,600 crores in Juhu.”
Anand Pandit, page 4 of the filed PDF · View the filing
Total pipeline GDV: approximately INR17,500 to 18,000 crores
p. 4
“Our ongoing and upcoming pipeline comprises 22 projects, 17 residential and 5 commercial, with an aggregate GDV of approximately INR17,500 to 18,000 crores.”
Anand Pandit, page 4 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Pre-sales — INR1,800 to 2,000 crores · FY27
stated firmly by Anand Pandit
p. 4
“we remain committed to our FY27 guidance of pre-sales in the range of INR1,800 to 2,000 crores, along with revenue and PAT growth of 55% to 60%.”
Anand Pandit, page 4 of the filed PDF · View the filing
Revenue and PAT growth — 55% to 60% · FY27
stated firmly by Anand Pandit
p. 4
“we remain committed to our FY27 guidance of pre-sales in the range of INR1,800 to 2,000 crores, along with revenue and PAT growth of 55% to 60%.”
Anand Pandit, page 4 of the filed PDF · View the filing
EBITDA margin — 35% to 40% · FY27
stated firmly by Anand Pandit
p. 4
“We remain confident of sustaining strong profitability with EBITDA and PAT margins expected at 35% to 40% and 25% to 30%, respectively.”
Anand Pandit, page 4 of the filed PDF · View the filing
PAT margin — 25% to 30% · FY27
stated firmly by Anand Pandit
p. 4
“We remain confident of sustaining strong profitability with EBITDA and PAT margins expected at 35% to 40% and 25% to 30%, respectively.”
Anand Pandit, page 4 of the filed PDF · View the filing
New project launches — four more projects: Lotus Aurelia, Lotus Sky Plaza, Lotus Portofino, and Lotus Odyssey · remainder of FY27
stated firmly by Anand Pandit
p. 4
“Looking ahead, we plan to launch four more projects over the remainder of FY27: Lotus Aurelia, Lotus Sky Plaza, Lotus Portofino, and Lotus Odyssey, with a combined estimated GDV of INR3,500 to 4,000 crores.”
Anand Pandit, page 4 of the filed PDF · View the filing
Juhu commercial redevelopment project start — next year
stated conditionally by Anand Pandit
p. 6
“And we expect a GDV about INR1,600 crores. And hopefully, we will be starting this project next year, after passing of plans, and other formalities.”
Anand Pandit, page 6 of the filed PDF · View the filing
Cash collections — around INR1,000 crores · this financial year
stated firmly by Sanjay Jain
p. 7
“So, then the cash collection will be improved because the billing will be done and the all the payment will be due. So, this year we are intend to collect around INR1,000 crores.”
Sanjay Jain, page 7 of the filed PDF · View the filing
EBITDA margin — approximately 33% to 36%
stated firmly by Sanjay Jain
p. 7
“Regarding EBITDA margin, we are on the same range whatever we have guided, approximately 33% to 36%.”
Sanjay Jain, page 7 of the filed PDF · View the filing
Lotus Varun construction progress — 90% of the work completed · till March
stated firmly by Sanjay Jain
p. 9
“Now, we have around 20 slabs, so we are confident before January we'll complete the RCC work and 90% of the work will be completed till March.”
Sanjay Jain, page 9 of the filed PDF · View the filing
Promoter equity dilution — to 75% or below · within two years
stated firmly by Anand Pandit
p. 10
“So, we have got total three years. One year has passed, so we have still two years to go. And within that time, I think we'll be able to dilute that.”
Anand Pandit, page 10 of the filed PDF · View the filing
Gift City project approvals — by the end of this year
stated conditionally by Anand Pandit
p. 7
“So, we are expecting that by the end of this year, we'll get all our approvals in place. Immediately after that, we will be starting the project.”
Anand Pandit, page 7 of the filed PDF · View the filing
Sales and marketing expense — about 1% approximately
stated as an aspiration by Anand Pandit
p. 12
“Of course, our expense would be I would say about 1% approximately, but that also will be able to recover because what happens that during this advertising, there would be many clients we will be getting directly, where we will not be spending any money on brokerage.”
Anand Pandit, page 12 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management detailed the timing and estimated GDV for Lotus Sky Plaza, Lotus Odyssey, Lotus Portofino, and Lotus Aurelia.
Answered by Sanjay Kumar Jain
Asked by Harsh Pathak: Timing and GDV of the four upcoming project launches.
p. 6
“So, we are launching the four new project. One is the Lotus Sky Plaza that is in the Oshiwara, and that will be launched either this half-year end or start of the third quarter.”
Sanjay Kumar Jain, page 6 of the filed PDF · View the filing
Management said the tenants would be rehoused and the remaining portion used for the commercial pipeline, with rental annuity not planned for this project.
Answered by Anand Pandit
Asked by Harsh Pathak: Whether the Juhu commercial project would include a rental portfolio component.
p. 7
“Right now, we are not sure that we want to keep it for rental because it's a very high-value ticket size there.”
Anand Pandit, page 7 of the filed PDF · View the filing
Management said prices had risen 5-10% and that Lotus prices 10-15% higher than other developers in its micro-market.
Answered by Anand Pandit
Asked by Manish Ostwal: Price appreciation seen in existing/launched projects and pricing premium versus peers like Lodha and Oberoi.
p. 8
“So, as far as price rise is concerned, it's about 5% to 10% we have seen the price rise.”
Anand Pandit, page 8 of the filed PDF · View the filing
Management clarified that new launches contributed only around INR25 crores while the bulk came from existing FY26 launches.
Answered by Rakesh Gupta
Asked by Prabal Gandhi: Breakdown of Q1 pre-sales between new launch sales and sustenance sales from prior launches.
p. 10
“So, new launch was only two projects in this quarter, which is around INR25 crores, and balance was from existing launch which was done in FY26 and prior.”
Rakesh Gupta, page 10 of the filed PDF · View the filing
Management said two years remain of the three-year window and expects to dilute within that time, with no specific plan yet.
Answered by Anand Pandit
Asked by Praful Gandhi: Timeline for reducing promoter equity stake from 82% to 75% or below.
p. 10
“No, not at all. It is very premature at this point of time, I think.”
Anand Pandit, page 10 of the filed PDF · View the filing
Management said current spend is about 1% of pre-sales and expects it to be offset by savings on brokerage from direct client acquisition.
Answered by Anand Pandit
Asked by Harsh Pathak: Current sales and marketing spend as a percentage of pre-sales and medium-term target.
p. 12
“Of course, our expense would be I would say about 1% approximately, but that also will be able to recover because what happens that during this advertising, there would be many clients we will be getting directly, where we will not be spending any money on brokerage.”
Anand Pandit, page 12 of the filed PDF · View the filing
Risks flagged
Difficulty predicting sales pace in the ultra-luxury segment.
p. 8
“As far as sale is concerned, since we are in ultra-luxury, it's difficult to predict how the sale will happen.”
Anand Pandit, page 8 of the filed PDF · View the filing
Pending government process changes needed for Gift City project's mixed-use approvals.
p. 7
“So, government is right now changing that that process is going on so that we can achieve our mixed use that is commercial, retail, and residential.”
Anand Pandit, page 7 of the filed PDF · View the filing
Ongoing paperwork and multiple stakeholders delaying conclusion of the Lotus Monarch project.
p. 11
“there is some paperwork going on, and there are many stakeholders included in that. So, right now, we are in process of getting it concluded.”
Anand Pandit, page 11 of the filed PDF · View the filing
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