Sri Lotus Developers and Realty Limited has launched its Initial Public Offering (IPO) to raise capital for business growth. The IPO comprises entirely a fresh issue of 5.28 crore equity shares. The total offer size aggregates up to Rs. 792 crore.
The IPO opens on July 30, 2025, and closes on August 1, 2025. The shares will be listed on NSE and BSE on Friday, August 6, 2025. Here’s everything you need to know.
GMP of Sri Lotus Developers and Realty IPO
As of July 29, 2025, the shares of Sri Lotus Developers and Realty Limited in the grey market were trading at a 26.67 percent premium. The shares in the Grey Market traded at Rs. 190. This gives it a premium of Rs. 40 per share over the cap price of Rs. 150. This IPO is a pure fresh issue with no offer-for-sale component.
Overview of Sri Lotus Developers and Realty Limited
Sri Lotus Developers & Realty Limited was established in February 2015 and is a real estate development company based in Mumbai, Maharashtra. The company focuses on building residential and commercial properties, mainly through redevelopment projects in the western suburbs of Mumbai.
As of June 30, 2025, the company has a total developable area of 0.93 million square feet. Its projects include both residential and commercial spaces. In the residential category, Sri Lotus builds 2BHK and 3BHK flats priced between Rs. 3 crore to Rs. 7 crore under its luxury segment. It also develops high-end 3BHK, 4BHK, and 4+ BHK flats and penthouses priced above Rs. 7 crore under the ultra-luxury segment.
The company is also active in constructing premium commercial office spaces. As of June 30, 2025, Sri Lotus has successfully completed four projects, is currently working on five ongoing projects, and has eleven upcoming developments in the pipeline.
Promoters of Sri Lotus Developers & Realty Limited
The promoters are Anand Kamalnayan Pandit, Roopa Anand Pandit, and Ashka Anand Pandit. They bring significant experience in real estate development and business operations. The promoters will continue to hold a significant stake post-issue.
Lead Managers of Sri Lotus Developers & Realty Limited IPO
Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited are lead managers. They are responsible for underwriting and marketing the IPO. KFin Technologies Limited is the registrar for the IPO.
Objectives of the IPO Offer
Sri Lotus Developers and Realty Limited plans to utilize the IPO proceeds for two main purposes. The company will allocate Rs. 550 crore towards investments in its subsidiaries, Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate, for funding the development and construction of ongoing projects, including Amalfi, The Arcadian, and Varun. The remaining funds will be used for general corporate purposes, supporting the company’s overall business operations and strategic growth initiatives.
Financial Analysis of Sri Lotus Developers and Realty
Sri Lotus Developers and Realty Limited’s revenue has increased from Rs. 461.58 crore in FY24 to Rs. 549.68 crore in FY25, which represents a growth of 19.09 percent. The net profit of the company increased by 90.21 percent, from Rs. 119.81 crore in FY24 to Rs. 227.89 crore in FY25. Sri Lotus Developers and Realty Limited’s revenue and net profit have grown at a CAGR of 81.50 percent and 274.04 percent, respectively, over the last two years.
Sri Lotus Developers and Realty vs Peers
Sri Lotus Developers Limited reported revenue of Rs. 549.68 crore in FY2025 with an EPS of Rs. 5.51 and RoNW of 24.39 percent. In comparison, Arkade Developer Limited earned Rs. 683.10 crore with an EPS of Rs. 9.25 and a RoNW of 17.76 percent. Keystone Realtors Limited reported Rs. 2,004.10 crore in revenue, Rs. 13.71 EPS, and a RoNW of 6.20 percent.
The company also has other peers like Suraj Estate Developers Limited, Sunteck Realty Limited, Mahindra Lifespaces Limited, and Hubtown Limited. The company’s net asset value per share is Rs. 21.39, compared to Rs. 219.95 for Keystone Realtor Limited, Rs. 177.60 for Hubtown Limited, and Rs. 222.54 for Sunteck Realty Limited.
Strengths of Sri Lotus Developers and Realty Limited
- Strong presence in Mumbai’s high-value redevelopment and real estate micro-markets.
- Experienced promoter group with deep knowledge and networks in the real estate sector.
- Ongoing projects located in prime areas with high potential for value appreciation.
- Asset-light model through joint development reduces upfront capital investment risks.
- Robust project pipeline ensures revenue visibility over the next few financial years.
Weaknesses of Sri Lotus Developers and Realty Limited
- High dependence on the Maharashtra region limits geographical diversification and scalability.
- The real estate sector faces frequent regulatory and policy changes impacting project timelines.
- The company carries a significant debt burden, affecting financial flexibility and interest coverage.
- Revenue concentrated in a few projects poses a risk in case of execution delays.
- Faces stiff competition from well-established and larger national real estate developers.
Conclusion
Sri Lotus Developers and Realty Limited offers exposure to the evolving, high-margin Mumbai redevelopment space. The IPO does not include an offer-for-sale, so all proceeds will be used to expand the business. The robust financial growth and unique market positioning offer long-term potential, but investors should weigh geographic concentration and project execution risks before subscribing.
Written By – Nikhil Naik
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