Sri Lotus Developers and Realty LimitedQ2 FY27 Results & Financial Update
Sri Lotus Developers and Realty Limited: Q2 FY27 consolidated results and company financials – revenue ₹269.00 Cr, PAT ₹89.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Sri Lotus Developers and Realty Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Sri Lotus Developers and Realty Limited reported robust financial and operational performance for the second quarter of fiscal 2027, driven by strong pre-sales momentum and steady revenue recognition across its luxury portfolio.
Total revenue from operations reached INR 269 crore in Q2 FY27, reflecting a 53% year-on-year increase compared to INR 176 crore in Q2 FY26. For the half-year ended September 30, 2027 (H1 FY27), total revenue grew 69% year-on-year to INR 401 crore.
Profitability expanded significantly, with EBITDA more than doubling by 113% year-on-year to INR 107 crore in Q2 FY27 from INR 50 crore in Q2 FY26. The EBITDA margin strengthened to 39.9%, compared to 28.6% in the corresponding quarter of the previous year.
Profit after tax (PAT) for Q2 FY27 stood at INR 89 crore, marking a 91% increase from INR 46 crore reported in Q2 FY26. PAT margin for the quarter was 33.0%, up from 26.3% a year ago.
Pre-sales momentum remained robust during the quarter, with Q2 FY27 pre-sales rising 83% year-on-year to INR 470 crore from INR 257 crore. For H1 FY27, pre-sales reached INR 879 crore, up 176% year-on-year, keeping the company on track to achieve its full-year guidance.
Demand during the quarter was well-distributed across projects rather than relying on a single asset. Lotus Trident, a premium commercial launch in Andheri West, led commercial performance with INR 178 crore in pre-sales during its first full quarter, while residential offerings added INR 280 crore led by Varun in Bandra and Lotus Celestia in Versova.
The company strengthened its business development pipeline during the quarter by securing three new projects—Lotus Supremus (Juhu), Lotus Empressa (Shivaji Park, Dadar West), and Lotus Stellar (Versova)—alongside additional area secured for Lotus Insignia, adding an estimated gross development value (GDV) of INR 2,700 to 2,800 crore.
01 · Business model
What does Sri Lotus Developers and Realty do?
Sri Lotus Developers and Realty Limited (formerly known as AKP Holdings Limited) is a Mumbai-based real estate developer specializing in luxury and ultra-luxury residential and premium commercial projects, with a strong focus on redevelopment and joint development models in the western suburbs of Mumbai.
The company manages end-to-end execution in-house—covering design, construction, sales, and customer engagement—to maintain control over quality and material standards while pursuing an asset-light operating model.
Its portfolio spans prominent western suburban micro-markets such as Juhu, Andheri West, Bandra, Versova, Prabhadevi, and Nepean Sea Road, alongside strategic commercial projects and recent expansion into the GIFT City area.
The firm went public through an initial public offering (IPO) featuring a fresh issue of INR 792 crores, which was heavily oversubscribed, reinforcing its financial position and low indebtedness.
02 · Historical context
What shaped the business before this quarter
Incorporated in 2015 as AKP Holdings Limited before transitioning to its current identity, the company established an early foothold in the luxury and ultra-luxury real estate market of Juhu and Andheri West.
Previously, the company completed 4 projects aggregating over 4.2 lakh sq. ft. of carpet area, establishing a track record of delivering residential developments 18 to 24 months ahead of RERA timelines.
In April 2026, the company launched its first brand campaign unveiling the 'Luxury Coastline Collection', featuring 11 coastal projects across Mumbai which expanded to 12 projects following the Q2 FY27 addition of Lotus Empressa.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹269.00 Cr | ₹132.35 Cr |
| EBITDA | ₹107.00 Cr | — |
| Profit after tax | ₹89.00 Cr | ₹45.72 Cr |
| EBITDA margin | 39.90% | — |
Financial interpretation
What the reported numbers mean
Profit after tax represented 33.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Q2 FY27 pre-sales rose 83% year-on-year to INR 470 crore, supported by contributions across six projects showcasing portfolio breadth.
Lotus Trident in Andheri West contributed INR 178 crore (approximately 38% of pre-sales) in its first full quarter, while residential projects contributed INR 280 crore (~60%), led by Varun in Bandra (INR 88 crore) and Lotus Celestia in Versova (INR 100 crore).
The Versova micro-market contributed INR 163 crore (~35% of pre-sales) across Celestia and Amalfi projects.
What drove margins
EBITDA margin for Q2 FY27 expanded to 39.9% from 28.6% in Q2 FY26, supported by favorable project mix and operational efficiencies.
Profit after tax margin stood at 33.0% for Q2 FY27 compared to 26.3% in Q2 FY26, reflecting strong operating leverage and stable cost structures.
05 · Demand, customers & order book
Where demand is coming from
H1 FY27 cumulative pre-sales stood at INR 879 crore, up 176% year-on-year. Collections for Q2 FY27 were recorded at INR 60 crore, bringing H1 FY27 total collections to INR 209 crore.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates across luxury residential and premium commercial segments in Mumbai, leveraging redevelopment and joint development structures for an asset-light model.
Geography and market mix
Core operations are concentrated in Juhu and Andheri West, with ongoing expansion into Bandra, Versova, Prabhadevi, Nepean Sea Road, Shivaji Park (Dadar West), and a flagship mixed-use project adjoining GIFT City.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Out of the fresh issue proceeds of INR 792 crores raised via IPO, INR 550 crores was earmarked for investment in subsidiaries (Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate) to part-fund construction costs for ongoing projects Amalfi, The Arcadian, and Varun. As of September 30, 2026, total deployment across these projects reached INR 305.3 crore.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Secured three new projects in Q2 FY27—Lotus Supremus (Juhu), Lotus Empressa (Shivaji Park, Dadar West), and Lotus Stellar (Versova)—plus additional area for Lotus Insignia, adding INR 2,700-2,800 crore of estimated GDV.
Entered into a joint development agreement with a profit-sharing arrangement for a ~1 million sq. ft. freehold mixed-use project adjoining GIFT City with an estimated GDV of INR 2,000-2,200 crore, expected to commence in Q1 FY28 with completion targeted in FY31.
09 · Reported developments
What changed operationally
Four projects—Lotus Sky Plaza, Lotus Portofino, Lotus Odyssey, and Lotus Aurelia—are lined up for launch in H2 FY27 with a combined estimated GDV of ~INR 3,500-4,000 crore.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
The company maintained a net debt-free balance sheet with a net cash balance of INR 494 crore as of September 30, 2026, comprising total cash and cash equivalents of INR 538 crore (and total cash of INR 646 crore including lien fixed deposits of INR 62 crore) against debt outstanding of INR 152 crore.
Capital allocation & funding
Long-term borrowings stood at INR 27.7 crore and short-term borrowings at INR 103.4 crore as of September 30, 2026.
11 · Management guidance & targets
What management is targeting from here
Management reaffirmed its full-year FY27 guidance of pre-sales between INR 1,800 and 2,000 crore, and revenue and PAT growth of 55-60% over FY26 levels.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Corporate Name Change
The company formally changed its name from AKP Holdings Limited to Sri Lotus Developers and Realty Limited.
13 · Key Q&A
The quarter, answered directly
What does Sri Lotus Developers and Realty do?
Sri Lotus Developers and Realty Limited (formerly known as AKP Holdings Limited) is a Mumbai-based real estate developer specializing in luxury and ultra-luxury residential and premium commercial projects, with a strong focus on redevelopment and joint development models in the western suburbs of Mumbai.
What is the clearest takeaway from Q2 FY27?
Sri Lotus Developers and Realty Limited reported robust financial and operational performance for the second quarter of fiscal 2027, driven by strong pre-sales momentum and steady revenue recognition across its luxury portfolio.
What drove revenue or demand?
Q2 FY27 pre-sales rose 83% year-on-year to INR 470 crore, supported by contributions across six projects showcasing portfolio breadth.
What mattered most for margins or profitability?
EBITDA margin for Q2 FY27 expanded to 39.9% from 28.6% in Q2 FY26, supported by favorable project mix and operational efficiencies.
What changed operationally beyond the headline numbers?
Out of the fresh issue proceeds of INR 792 crores raised via IPO, INR 550 crores was earmarked for investment in subsidiaries (Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate) to part-fund construction costs for ongoing projects Amalfi, The Arcadian, and Varun. As of September 30, 2026, total deployment across these projects reached INR 305.3 crore.
What is management guiding or targeting from here?
Management reaffirmed its full-year FY27 guidance of pre-sales between INR 1,800 and 2,000 crore, and revenue and PAT growth of 55-60% over FY26 levels.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
H2 FY27 Project Launches: Execution and launch progress of scheduled H2 FY27 projects including Lotus Sky Plaza, Lotus Portofino, Lotus Odyssey, and Lotus Aurelia.
- 02
Guidance Tracking: Progress towards achieving full-year FY27 pre-sales guidance of INR 1,800-2,000 crore and 55-60% revenue and PAT growth.
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