Sri Lotus Developers Plans Rs 792 Crore IPO for Mumbai Luxury Redevelopment

Mumbai-based Sri Lotus Developers and Realty Ltd, backed by high-profile investors including Shah Rukh Khan’s family trust, Amitabh Bachchan, Hrithik Roshan, and ace investor Ashish Kacholia, is all set to launch its Initial Public Offering (IPO) next week. The company aims to raise approximately Rs 792 crore to support the development of three ongoing real estate projects in Mumbai.

 

Specializing in luxury and ultra-luxury real estate, Sri Lotus Developers is focused on redeveloping old buildings in prime city locations and transforming them into high-end residences priced between Rs 10 crore and Rs 50 crore. According to the company, this strategy aligns with the growing demand for premium housing in established neighborhoods across Mumbai.

 

As of June 30, 2025, the company had completed 0.93 million sq. ft. of developable area across residential and commercial projects. It currently has four completed projects, five ongoing, and 11 upcoming developments, located in key areas such as Andheri, Juhu, Bandra, and South Mumbai.

 

Looking ahead, the developer also plans to expand into South and Central Mumbai, including Nepean Sea Road and Prabhadevi, as well as eastern suburbs like Ghatkopar. These locations are known for high demand and limited supply, offering strategic advantages for luxury redevelopment.

 

The company’s existing portfolio spans 2BHK and 3BHK flats priced from Rs 3 crore to Rs 7 crore, along with larger 3BHK, 4BHK, and penthouses priced above Rs 7 crore. The upcoming focus, however, will shift to units in the Rs 10 crore to Rs 50+ crore range, underscoring the company’s ambition to dominate the ultra-luxury segment.

 

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Chairman and Managing Director Anand Pandit said, “We are not raising this IPO due to debt pressure, but to enhance our brand value. A public listing adds credibility, especially when you're focused on luxury redevelopment”.

 

With a strong investor base and premium market focus, Sri Lotus Developers is positioning itself as a major player in Mumbai’s upscale real estate transformation.