Sri Lotus Developers and Realty Limited (NSE: LOTUSDEV, BSE: 544469) reported strong operating and financial performance for the quarter and nine months ended Dec. 31, 2025, supported by sharp growth in pre-sales, higher revenue and improved profitability, according to the company’s Q3 FY26 investor presentation.
Q3 FY26 performance
Pre-sales for the third quarter rose to ₹376 crore, up more than threefold year on year, driven by strong traction in recently launched projects, including Project Varun in Bandra, which recorded ₹52 crore in bookings with 19% of inventory sold by December 2025. Revenue from operations increased 93% year on year to ₹224 crore in Q3 FY26.
EBITDA for the quarter stood at ₹79 crore, with an EBITDA margin of 35.5%. Profit after tax increased to ₹70 crore, reflecting operating leverage from higher sales velocity. Collections for the quarter were ₹79 crore.
The company said recently launched projects, The Arcadian (Juhu) and Lotus Amalfi (Versova), scaled rapidly, achieving 34% and 45% pre-sales, respectively, within four months of launch.
Nine-month FY26 results
For the nine months ended Dec. 31, 2025, pre-sales totalled ₹695 crore. Revenue from operations reached ₹461 crore. EBITDA was ₹159 crore, with an EBITDA margin of 34.5%. Profit after tax for the period stood at ₹142 crore. Collections over the nine-month period were ₹142 crore.
The company reiterated its FY26 guidance of ₹1,100–1,300 crore in pre-sales, with 75%–85% year-on-year revenue growth and 30%–35% growth in profit after tax.
Project launches and development pipeline
During Q3 FY26, Sri Lotus Developers launched Project Varun (Bandra) with a saleable carpet area of about 0.32 lakh sq. ft. and an estimated gross development value (GDV) of ₹430–450 crore. Two additional residential launches are planned in Q4 FY26: Lotus Aquaria (Prabhadevi) and Lotus Celestia (Versova).
The company added eight new projects during FY26 with an aggregate estimated GDV of ₹7,500–8,500 crore. In January 2026, it signed its largest development agreement in the GIFT City area, covering more than 1 million sq. ft. of carpet area with an estimated GDV of ₹2,000–2,200 crore. The mixed-use project will include premium retail, Grade-A commercial offices and high-end residential units, with expected commencement in Q1 FY28 and completion by FY31.
Portfolio and balance sheet
Sri Lotus Developers follows an asset-light model, with the majority of projects undertaken through redevelopment and joint development agreements. The company reported a net cash balance of about ₹845 crore as of December 2025, and stated that it remains net debt free. The developer focuses on luxury and ultra-luxury residential projects in Mumbai’s western suburbs, where sales velocity and pricing remain strong.
Market positioning
The company’s average selling price in its core micro-markets was cited at around ₹61,000 per sq. ft. in FY25, reflecting a premium positioning. Management highlighted rapid project execution, with several completed developments delivered 12–24 months ahead of RERA timelines, supporting customer confidence and faster monetisation.
Summary
Sri Lotus Developers posted sharp growth in pre-sales and revenue in Q3 FY26, supported by successful new launches and strong demand in Mumbai’s premium residential micro-markets. Profitability improved on higher volumes, while the development pipeline expanded with multiple new projects and a large mixed-use project in GIFT City. The company maintained an asset-light approach and a strong cash position as it targets higher pre-sales and earnings growth for FY26.