Sri Lotus Developers expands in GIFT City area with flagship UltraLuxury Project

Sri Lotus Developers & Realty Limited, a developer of luxury and ultra luxury residential and commercial properties in Mumbai, with a focus on redevelopment & joint development projects has announced its expansion into the GIFT City Area, Gandhinagar through a development agreement (DA) with Shri Abhishek Bachchan. The project will have a builtup area of over ~1 million sq. ft.

The Company has made a strategic entry into the GIFT City Area, Gandhinagar with an ultra-luxury, mixed-use development on freehold land, marking Lotus' first project in Gujarat and a key milestone in its growth journey beyond its core Mumbai market. The project will be undertaken through subsidiary of the Company "Rise Root Projects Pvt. Ltd.' which entered into a Development Agreement with Shri Abhishek Bachchan having profitsharing arrangement, enabling the Company to leverage its core strengths in design, planning, development, and execution. This asset-light approach is expected to enhance capital efficiency while allowing Lotus to scale its presence in a high-potential, emerging real estate market.

The proposed development will comprise a thoughtfully planned mix of premium retail, Grade-A commercial office spaces and high-end residential units etc. The project is designed to address the growing demand from financial institutions, fintech firms and IT / ITeS companies. Supported by the Company's strong execution capabilities and proven track record of timely delivery, the project is expected to be completed over a period of 4 years post launch of the project.

Mr. Anand K Pandit, Chairman & Managing Director, Sri Lotus Developers & Realty Limited, said, "We are pleased to announce our entry into the GIFT City Area, Gandhinagar with our flagship ultra luxury mixed use project. GIFT City is rapidly emerging as a premier global financial and business hub, supported by progressive policy initiatives, robust infrastructure development, and increasing interest from domestic and international investors. Our expansion into this market is driven by the objective of addressing the rising demand for premium and ultra-luxury residential and commercial spaces within the region."

Shares of Sri Lotus Developers and Realty Limited was last trading in BSE at Rs. 168.60 as compared to the previous close of Rs. 160.70. The total number of shares traded during the day was 117327 in over 1271 trades.

The stock hit an intraday high of Rs. 171.00 and intraday low of 158.45. The net turnover during the day was Rs. 19532292.00.

Source : Equity Bulls

Keywords

SriLotusDevelopersandRealty INE0V9Q01010 Residential Commercial GIFTCity UltraLuxuryProject