Develops ultra-luxury residential and commercial real estate in Mumbai's coastal micro-markets, selling premium apartments to high-net-worth individuals, non-resident Indians and end-users. Earnings come from pre-sales of under-construction apartments and commercial space across 11 marquee projects marketed under the 'Luxury Coastline Collection' brand. In FY26, pre-sales reached INR 1,157 crore and the company added nine new projects with a combined gross development value (GDV) of INR 8,500-9,000 crore, including a strategic entry into GIFT City with a mixed-use development. Building work is the dominant cost, with materials and construction accounting for 93.3% of revenue, employee costs 2.0% and other operating expenses 7.0%. The company plans six new project launches in FY27 with combined GDV of INR 5,000-5,500 crore — three in H1 (Aquaria, Trident, Sky Plaza) and three in H2 (Portofino, Odyssey, Aurelia). The balance sheet is net cash, with INR 697 crore in cash and total equity of INR 1,918 crore as of March 2026, and IPO proceeds of INR 792 crore verified by CARE Ratings as being deployed per stated objects. Lotus Celestia at Versova Beach booked INR 155 crore within seven days of launch, illustrating the sales velocity in this segment. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Ultra-luxury residential development, Commercial / mixed-use development. Asset-heavy, cyclical real estate development focused on the ultra-luxury residential segment.
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 769 |
| EBITDA (ex other income) | 281 |
| margin % | 36.5 |
| Owners' profit | 237 |
| EPS, as reported (₹) | 5.04 |
| ROE % · ROCE % | 12.7 · 16.7 |
| Debt / equity (x) | 0.07 |
| Cash from operations | (326) |
| Capex | (0) |
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 61 | 176 | 224 | 307 | 132 |
| Profit before tax | 35 | 62 | 94 | 135 | 61 |
| Net profit | 26 | 46 | 70 | 101 | 46 |
| EPS (₹) | 0.59 | 0.98 | 1.43 | 1.96 | 0.93 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DLF LIMITED | 1,59,533 | 35.9 | 3.51 | 48.1 | 9.7 | 6.0 | 8.6 | 37.1 |
| LODHA DEVELOPERS LIMITED | 1,11,589 | 27.0 | 4.76 | 22.1 | 14.6 | 15.7 | 25.1 | 40.5 |
| THE PHOENIX MILLS LTD | 67,594 | 52.8 | 4.73 | 26.2 | 10.9 | 9.9 | 32.7 | 63.4 |
| PRESTIGE ESTATE LTD | 64,519 | 56.6 | 3.85 | 18.5 | 7.8 | 6.8 | 11.8 | 38.1 |
| OBEROI REALTY LIMITED | 63,306 | 20.8 | 3.53 | 18.2 | 14.0 | 15.5 | 24.0 | 61.1 |
| GODREJ PROPERTIES LTD | 52,653 | 32.9 | 2.72 | 23.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Promoter sells 2% stake to meet minimum public shareholding norms | ownership changes | high | — | — |
| 9 Sept 2026 · TDS intimation on Rs 0.30 per share interim dividend | compliance | minimal | — | — |
| 8 Sept 2026 · Promoter to sell up to 2% stake to meet public shareholding norm | ownership changes | high | — | — |
| 8 Sept 2026 · Promoter to sell up to 2% stake to meet minimum public shareholding norms | ownership changes | high | — | — |
| 8 Sept 2026 · Sri Lotus Developers: 12th AGM notice dispatched, AGM on September 29 | compliance | minimal | — | — |
| 8 Sept 2026 · Subsidiary appointed developer for luxury Versova re-development project | business updates | medium | — | — |
| 7 Sept 2026 · Annual Report 2025-26 web link shared with shareholders ahead of AGM | compliance | minimal | — | — |
| 7 Sept 2026 · AGM on Sep 29, 2026: Final Dividend 50%, Executive Director Appointment | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 12th AGM notice published; meeting on Sep 29, 2026 via video conferencing | compliance | minimal | — | — |
| 1 Sept 2026 · Subsidiary appointed as developer for luxury Andheri project | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 9.5 |
| 11.4 |
| 46.3 |
| 107.7 |
| ANANT RAJ LIMITED | 21,490 | 36.2 | 3.69 | 29.3 | 9.6 | 10.2 | 58.7 | 32.1 |
| BRIGADE ENTER. LTD | 20,941 | 24.4 | 2.78 | 15.7 | 9.6 | 6.8 | 23.9 | 41.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 39.5 | 21.8 | 47 of 57 | 18% |
| P/B | 5.3 | 2.1 | 62 of 64 | 3% |
| ROCE | 16.6 | 6.8 | 10 of 67 | 86% |
| ROE | 12.7 | 8.2 | 19 of 67 | 73% |
| Debt / Equity | 0.1 | 0.4 | 17 of 67 | 76% |
| EBITDA margin | 46.7 | 29.6 | 10 of 66 | 86% |
| Revenue growth | 115.8 | 12.8 | 12 of 67 | 83% |
| Profit growth | 77.3 | 7.5 | 14 of 66 | 80% |
| Market cap | 10239 | 2250 | 12 of 67 | 83% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
