Sri Lotus Developers and Realty Limited (LOTUSDEV) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Sri Lotus Developers and Realty Limited builds luxury residential and commercial projects in prime Mumbai micro-markets, with a heavy tilt toward redevelopment. After Q1 FY27 pre-sales of Rs. 409 Cr (up 567% YoY), the Q2 print will speak to whether the Rs. 1,800-2,000 Cr FY27 pre-sales guidance stays on track and whether EBITDA margins hold within the guided 35-40% band amid rising construction costs.

Sri Lotus Developers and Realty Limited Q2 Results Date and Time

Board meeting is scheduled for October 15, 2026, to consider unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2026. The trading window was closed from October 1 and was to reopen 48 hours after results declaration.

What to expect from Sri Lotus Developers and Realty Limited's Q2 FY27 results

The Q2 FY27 print will test whether Sri Lotus Developers' strong Q1 momentum — pre-sales of Rs. 409 Cr, up 567% YoY, covering roughly 21-23% of the Rs. 1,800-2,000 Cr FY27 guidance — carried through the September quarter. Demand backdrop stayed supportive: Mumbai City recorded 12,622 property registrations in September 2026, the highest September total in over 14 years and up 5% YoY, with the Ganesh Chaturthi festive window (Sep 14-25) seeing 5,379 registrations, up 22% YoY. The margin picture is the key watch-point: Q1 FY27 EBITDA margin of 36.37% sat at the low end of the guided 35-40% band, with cost of materials consumed rising to 50.61% of revenue from 35.72% in Q1 FY26, while JLL projects a 3-5% rise in construction costs and steel is up 20%. Collections remain the guidance metric most behind run-rate — Q1 collections of Rs. 150 Cr and Q4 FY26's Rs. 82 Cr both trailed the pace needed to reach the FY27 target of around Rs. 1,000 Cr, with management linking improvement to Arcadian and Varun reaching 90% completion and Amalfi 60-70% by year-end. The repo rate stood at 5.50% as of October 9, 2026, after the MPC's 25 bps hike on October 7 — after the quarter ended — so the July-September rate environment was steady or easing. The upcoming call is likely to cover Q2 pre-sales contribution from the Trident and Aquaria launches (combined GDV Rs. 1,350 Cr), timing of the four planned FY27 launches, and updates on the Juhu (Rs. 1,600 Cr GDV), Shivaji Park (Rs. 550 Cr GDV) and Model Town, Versova redevelopment appointments.

Key Things To Watch

FY27 guidance tracking: Management reiterated its FY27 targets on the Q1 call; the Q2 print is the next checkpoint.

• Pre-sales — Rs. 1,800-2,000 Cr by FY27 — reiterated; CEO said the company was 'very confident' it would 'easily achieve the INR1,800 crores guidance'
• Revenue and PAT growth — 55%-60% YoY by FY27; EBITDA margin — 35%-40%; PAT margin — 25%-30%
• Cash collections — around Rs. 1,000 Cr by FY27 — linked to Arcadian and Varun at 90% completion and Amalfi at 60%-70% completion by year-end
• Four additional launches with estimated combined GDV Rs. 3,500-4,000 Cr during the remainder of FY27

Collections conversion and project completion stages: Collections have lagged pre-sales due to construction-linked billing milestones.

• Q1 FY27 collections were Rs. 150 Cr (up 115% YoY) and Q4 FY26 collections were Rs. 82 Cr against revenue of Rs. 308 Cr; an analyst questioned the shortfall on the Q4 call
• Management attributes the lag to slab-linked billing and expects collections to improve as projects reach superstructure stages
• Updated completion percentages for Arcadian, Varun and Amalfi will indicate the collection pickup trajectory

FY27 launch pipeline execution: Four launches are planned for the remainder of FY27 after the Q1 launches.

• Lotus Trident (Andheri West) and Lotus Aquaria (Prabhadevi) launched in Q1 FY27 with combined GDV of Rs. 1,350 Cr; construction has commenced
• Launch timing and initial sales for Lotus Aurelia, Lotus Sky Plaza, Lotus Portofino and Lotus Odyssey, with estimated combined GDV of Rs. 3,500-4,000 Cr

Redevelopment appointments and GIFT City: Three redevelopment appointments were announced in August and September 2026.

• Juhu commercial-cum-retail redevelopment — estimated GDV Rs. 1,600 Cr, carpet area approximately 3.46 lakh sq. ft., commencement targeted for Q3 FY28
• Shivaji Park Beach Front, Dadar residential redevelopment — estimated GDV Rs. 550 Cr, saleable area approximately 44,000 sq. ft., commencement targeted for end-FY28/Q1 FY29
• Model Town, Versova — financial details, area and timeline not yet disclosed; GIFT City mixed-use project (estimated GDV Rs. 2,000-2,200 Cr) targeted to commence Q1 FY28 and complete in FY31

GST matters, margin clarification and project timelines: Pending corporate and disclosure items the call may address.

• GST appeal on a Section 74 order relating to FY21, FY22 and FY24 of merged entity Veer Savarkar Projects Private Limited — total demand approximately Rs. 8.17 Cr, tax paid under protest, stated as having no material impact; a separate Rs. 100.04 Mn show-cause notice is also pending
• Clarification of the Q2 FY26 EBITDA-margin discrepancy between the 28.6% concall figure and the 33.6% figure in the H1 presentation
• Execution timing for Lotus Monarch, Lotus Avalon and Lotus Solana, which an analyst flagged as delayed on the Q4 FY26 call