Target: ₹ 250

CMP: ₹ 194.95

Sri Lotus Developers and Realty (Lotus), A Public Limited Company Incorporated Infebrury 2015 under the name akp holdings private ltd, have estimated itself as a kee player in the Societ redeveloopment space. The company’s pre-mills have cloasted a Cagr of 39 per cent over fy22-25.

Currently, Lotus has Four Completed and Five Ongoing Residential Projects with a Combined Potential Value of ₹ 1,900-2,000 Crore, AlongSide EIGHT Upcoming Residential Projects with a GDV of a GDV of ₹ 7,500 Crore. Additionally, it is developing three commercial assets with an Estimated sales potential of 0.2 msf, translating to a value of ₹ 3,000-3,500 Crore. Looking ahead, we estimate lotus’s presales to post a notable 129 per cent Cagr over fy25-28, guided by its strong project pipeline.

With Roe/ROCE Above 26 per cent and a net cash status, lotus stands out as the best proxy for mmr’s redevelopment growth story

We value the ongoing and upcoming projects based on a DCF approach, applying a wachc of 13 per cent and terminal growth of 2 per cent, to arrive at an Nav of ₹ 12,100 Crore OR ₹ 250/Share. Accordingly, we initiate coverage on the stock with a boy rating.

Published on September 24, 2025