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Sri Lotus Developers and Realty Ltd reported an 8% drop in consolidated net profit to INR 46.36 crore for the September quarter, compared with INR 50.47 crore a year earlier, even as total income rose to INR 188.81 crore from INR 125.08 crore. The Mumbai-based developer has completed four projects covering over 4.2 lakh sq ft and is executing six more, with 12 new developments planned across nearly 27.6 lakh sq ft of carpet area. While profit declined, the rise in income and active project pipeline signal continued operational strength and growth momentum, supported by steady demand in Mumbai's real estate market.
Sri Lotus Developers and Realty Ltd reported an 8 per cent decline in its consolidated net profit to INR 46.36 crore during the September quarter, as against INR 50.47 crore during the same period in the previous year. However, the Mumbai-based company witnessed an improvement in total income, which increased to INR 188.81 crore during the July-September period, up from INR 125.08 crore recorded in the corresponding period last year, according to details shared in a recent regulatory filing. Advertisement
The developer has completed four projects aggregating over 4.2 lakh sq ft of carpet area. In addition, it is currently executing six projects and has 12 upcoming developments planned, collectively spanning nearly 27.6 lakh sq ft of carpet area and around 20.5 lakh sq ft of saleable space.
While Sri Lotus Developers faced a contraction in profit during the September quarter, the rise in total income and expansion of its project portfolio indicate sustained operational momentum. With several projects under development and more in the pipeline, the company appears to be positioning itself for continued growth in the coming quarters, supported by the ongoing demand in Mumbai's real estate market.
Source - PTI
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