LOTUSDEVSri Lotus Developers and Realty Ltd

Sri Lotus Developers and Realty Q2 FY27 Results: Consolidated Net Profit ₹88.53 Crore on Total Income of ₹281 Crore

Earnings
Real Estate

Blacklitt Research15 October 20263 min read

Residential apartment blocks and plots on the edge of Hyderabad — Illustrative image. Photo: ramkich4u, via Wikimedia Commons (CC0)

Sri Lotus Developers and Realty reported consolidated total income of ₹280.76 crore and net profit of ₹88.53 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹9.70 crore and net profit was ₹0.27 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹281 crore, up 48.7% YoY, up 92.3% QoQ
Net profit: ₹88.53 crore, up 91.0% YoY, up 93.6% QoQ
EPS: ₹1.68, against ₹0.98 in Q2 FY26
Net profit margin: 31.53%, up from 24.55% a year earlier and 31.32% in June

Standalone

The company on its own, without its subsidiaries

Total income: ₹9.70 crore, down 80.5% YoY, down 53.7% QoQ
Net profit: ₹0.27 crore, down 98.8% YoY, down 95.9% QoQ
EPS: ₹0.01, against ₹0.49 in Q2 FY26
Revenue from operations: nil, against ₹38.61 crore in Q2 FY26

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	280.76	188.81	+48.7%	145.99	+92.3%
Revenue from operations	268.59	176.11	+52.5%	132.34	+103.0%
Other income	12.17	12.70	-4.2%	13.65	-10.8%
	88.53	46.36	+91.0%	45.72	+93.6%
Finance costs	0.51	0.49	+4.1%	0.51	0.0%
Depreciation	0.60	0.41	+46.3%	0.36	+66.7%
Tax expense	29.80	15.86	+87.9%	15.19	+96.2%
Net profit margin	31.53%	24.55%	+6.98 pp	31.32%	+0.22 pp
Tax as share of profit before tax	25.2%	25.5%	-0.30 pp	24.9%	+0.25 pp
EPS, basic (₹)	1.68	0.98	+71.4%	0.93	+80.6%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit doubled with revenue, so the margin held at a high level instead of widening further. Revenue from operations rose 52.5% to ₹268.59 crore and net profit 91.0% to ₹88.53 crore, a margin of 31.53%. It was 31.32% in June, when profit was ₹45.72 crore on half the revenue, so profit has followed revenue almost one for one across the two quarters. Costs are small: finance costs ₹0.51 crore and depreciation ₹0.60 crore.

Per-share profit grew less than profit. Earnings per share rose 71.4% against profit up 91.0%, which implies about 52.7 crore shares against about 47.3 crore a year ago (derived), so the share count has grown. The tax charge of ₹29.80 crore is about 25% of profit before tax, with a current tax charge of ₹30.17 crore, so deferred tax was a small credit.

For a real estate developer revenue follows project recognition, so a doubling in one quarter says little about the next; the filing reports a single segment, real estate development, and does not name the projects. The board had recommended an interim dividend of 30%, ₹0.30 a share, in September 2026, and the promoters waived their right to it.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	9.70	49.62	-80.5%	20.96	-53.7%
Revenue from operations	0.00	38.61	n/a	10.00	n/a
Other income	9.70	11.01	-11.9%	10.96	-11.5%
	0.27	22.95	-98.8%	6.62	-95.9%
Finance costs	0.01	0.02	-50.0%	0.01	0.0%
Depreciation	0.38	0.40	-5.0%	0.35	+8.6%
Tax expense	0.05	7.68	-99.3%	2.10	-97.6%
Net profit margin	2.78%	46.25%	-43.47 pp	31.58%	-28.80 pp
Tax as share of profit before tax	15.6%	25.1%	-9.44 pp	24.1%	-8.46 pp
EPS, basic (₹)	0.01	0.49	-98.0%	0.14	-92.9%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent holds the group's investments and earns almost no operating revenue this quarter. Standalone revenue from operations was nil against ₹38.61 crore a year ago, total income is ₹9.70 crore, all of it other income, and net profit is ₹0.27 crore against ₹22.95 crore. So essentially all the group's ₹88.53 crore profit arises in the subsidiaries.

Inference

Sri Lotus' profit is rising with project revenue on a very high margin, and the earnings per share grew more slowly than profit because the share count is higher.

The filing does not say which projects were recognised in the quarter, so how much of the revenue repeats is not known.

Reference: Original filing (PDF)

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Sri Lotus Developers and Realty Q2 FY27 Results: Consolidated Net Profit ₹88.53 Crore on Total Income of ₹281 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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