Sri Lotus Developers Appointed as Developer for Shivaji Park Redevelopment Project with ₹550 Cr GDV
Sri Lotus Developers has been appointed as the developer for a residential redevelopment project at Shivaji Park Beach Front, Dadar. The project has an estimated GDV of ₹550 crore. Commencement is expected by end of FY28 or Q1 FY29, with completion in 3-3.5 years.
The project's GDV of ₹550 crore is substantial and is expected to contribute positively to the company's future revenue, indicating a medium impact.
The appointment as a preferred developer for a significant project with a high GDV is a positive development for the company.
Sri Lotus Developers & Realty Limited has been appointed as the preferred developer for a significant residential redevelopment project located at Shivaji Park Beach Front, Dadar, Mumbai.
This prime project, situated along an iconic stretch with unobstructed sea views of the Arabian Sea, has an estimated Gross Development Value (GDV) of ₹550 crore. The project will encompass approximately 44,000 sq. ft. of saleable area.
The commencement of the project is anticipated by the end of FY28 or in Q1 FY29, with an estimated completion timeline of 3 to 3.5 years from its start. This appointment underscores the growing reputation and brand strength of Lotus Developers among housing societies in high-value micro-markets across Mumbai.
Mr. Anand K Pandit, Chairman & Managing Director of Sri Lotus Developers & Realty Limited, expressed delight at the opportunity, highlighting the trust homeowners place in the Lotus brand for modernizing their homes without compromising on location. He noted that redevelopment is a preferred path for aging housing societies in prime neighborhoods, and this project, with its unique sea view, perfectly aligns with their 'Coastline Luxury Collection'. The company is strategically expanding into new micro-markets with distinctive addresses, focusing on creating value and commanding a premium.
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Sri Lotus Developers and Realty Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sri Lotus Developers and Realty Limited. Read the original for the full detail.