Mumbai developer reports 176% growth in H1 pre-sales, with four residential launches planned for the second half of FY27
Mumbai-based Sri Lotus Developers & Realty reported an 83% year-on-year increase in pre-sales to INR 470 crore in Q2 FY27, taking its first-half pre-sales to INR 879 crore, up 176% from the corresponding period last year. The developer added three projects across Juhu, Dadar West and Versova during the quarter, along with additional area at Lotus Insignia, expanding its development pipeline by an estimated gross development value (GDV) of INR 2,700 crore to INR 2,800 crore.
The new additions strengthen the company’s presence in established Mumbai neighbourhoods where redevelopment and joint development offer opportunities to unlock value from existing urban land. The projects comprise Lotus Supremus in Juhu, Lotus Empressa in Shivaji Park, Dadar West, and Lotus Stellar in Versova. The company said it had been appointed preferred developer for the three projects.
Redevelopment remains central to Sri Lotus Developers’ business model, which focuses on luxury and ultra-luxury residential and commercial properties. In established parts of Mumbai, redevelopment allows developers to create new housing stock within existing urban fabric, although project execution depends on approvals, resident agreements, construction timelines and market demand.
The company has lined up four projects for launch in H2 FY27: Lotus Sky Plaza, Lotus Portofino, Lotus Odyssey and Lotus Aurelia. Together, these projects have an estimated GDV of INR 3,500 crore to INR 4,000 crore. Their planned launches will be important to the company’s target of achieving INR 1,800 crore to INR 2,000 crore in pre-sales for FY27.
Financially, Sri Lotus Developers reported Q2 revenue of INR 269 crore, a 53% increase year on year. EBITDA rose 113% to INR 107 crore, with a margin of 39.9%, while profit after tax increased 91% to INR 89 crore. For H1 FY27, revenue grew 69% to INR 401 crore, EBITDA rose 95% to INR 155 crore and profit after tax increased 86% to INR 134 crore.
The company has set a FY27 revenue and profit after tax growth target of 55% to 60% over FY26. It said its expansion plans would be supported by a pipeline of upcoming launches and a net debt-free balance sheet.
For Mumbai’s built environment, the company’s growing project pipeline highlights the continued role of redevelopment in premium residential development. The next phase will depend on how effectively the developer converts project additions into launches and completed homes while maintaining design quality, construction standards and financial discipline.
