Sri Lotus Developers and Realty Ltd — Q4 FY26

Sri Lotus Developers and Realty Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=TQlrQihSceI Published: 15 hours ago

0:01 1 second Ladies and gentlemen, good morning and welcome to Shri Lotus Developers and Realy Limited's Q4 FY26 earnings conference call. Before we begin, I 0:10 10 seconds would like to remind participants that this conference call may contain forward-looking statements about the company which are based on belief, opinions, and expectations of the 0:18 18 seconds company as date of this call. These statements are not the guarantee of future performance and involve risk and uncertainties that are difficult to 0:26 26 seconds predict. As a reminder, all participant lines will remain in the listen only mode and there will be an opportunity for you to ask questions after the 0:34 34 seconds presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchstone phone. 0:43 43 seconds Please note that this conference is being recorded. With this, I now hand the conference over to Mr. Anand Pandit, managing director and chairman of Sri Lotus Developers and Reality Limited. 0:54 54 seconds Thank you and over to you, sir. 0:58 58 seconds Thank you. Good morning everyone and a very warm welcome to the Q4 FI26 earning 1:05 1 minute, 5 seconds call of Sri Lotus Developers and Reality Limited. 1:10 1 minute, 10 seconds Joining me today are our CEO Mr. Sanjay Kumar Jin, our CFO Mr. Rakkesh Gupta and our investor relation advisers from SGA. 1:23 1 minute, 23 seconds Our investor presentation has been uploaded on the stock exchanges and our website. We hope you have had a chance to review it. 1:34 1 minute, 34 seconds Let me begin with a brief overview of the market environment. 1:40 1 minute, 40 seconds Demand in the luxury and ultra luxury segment continues to remain strong even 1:47 1 minute, 47 seconds amid global uncertaintity and geopolitical developments. Luxury residential segment is clearly 1:54 1 minute, 54 seconds outperforming the broader residential market supported by robust end user 2:00 2 minutes demand, rising aspirations and sustained interest from HNIS and NRIs. 2:08 2 minutes, 8 seconds We are also witnessing strong absorption levels across key micro markets with 2:15 2 minutes, 15 seconds buyers increasingly preferring larger residencies, enhanced amenities, 2:22 2 minutes, 22 seconds wellness focused living and developments backed by trusted brands. 2:28 2 minutes, 28 seconds This structural shift continues to reinforce momentum in the luxury segments. 2:36 2 minutes, 36 seconds Before I move to our operating performance, I would like to highlight the launch of our first of its kind 2:44 2 minutes, 44 seconds brand campaign, luxury coastline collection. 2:48 2 minutes, 48 seconds This campaign brings together 11 market projects across Mumbai's most sought-after coastal locations including 2:57 2 minutes, 57 seconds Warova, Juu, Carter Road, Band Prabadi and Nepensi road offering a 3:06 3 minutes, 6 seconds differentiated and premium living experience. The campaign has received an overwhelming response from customers and 3:15 3 minutes, 15 seconds channel partners and we are seeing a noticeable increase in inquiries and conversions across the portfolio. 3:26 3 minutes, 26 seconds During the year, we also marked our strategic entry into Gift City, further 3:32 3 minutes, 32 seconds expanding our geographic presence. As we continue to scale and enhance our brand 3:39 3 minutes, 39 seconds visibility, our approach remains measured and disciplined. We remain highly selective focusing on a curated 3:49 3 minutes, 49 seconds customer base while maintaining our commitment to quality design and execution. 3:57 3 minutes, 57 seconds Moving on to our financial performance for the quarter. Despite challenging global backdrop, demand for our projects 4:06 4 minutes, 6 seconds remain resilient. Pre-sales for Q4 FI26 4:11 4 minutes, 11 seconds stood at rupees 462 crores resisting a strong growth of 177% yearonear. 4:22 4 minutes, 22 seconds The quarter was marked by the successful launch of Lotus Celestia in Versoa Beach 4:29 4 minutes, 29 seconds which achieved booking of rupees 155 crores within 7 days of launch 4:37 4 minutes, 37 seconds reflecting strong market acceptance. The project with an estimated GDB of rupees 4:45 4 minutes, 45 seconds 1,400 to,500 cr is strategically located on the versa beachfront and has been healthy premium realization. 4:55 4 minutes, 55 seconds Our other projects Wun in Bandra along with the Arcadian in Juu and Amalfi in 5:03 5 minutes, 3 seconds Versa Beach continued to witness steady traction contributing cumulative 5:09 5 minutes, 9 seconds pre-sales of rupees 203 crores during the quarter. 5:15 5 minutes, 15 seconds Total pre-sales contribution in this quarter from launches done during the 5:21 5 minutes, 21 seconds year stood at rupees 358 crores for the full year ended March 2026. 5:31 5 minutes, 31 seconds We achieved pre-sales of rupees 1,157 crores in line with our stated guideline despite industrywide challenges. 5:44 5 minutes, 44 seconds During FY26, we added nine new projects with a cumulative GDP of approximately 5:53 5 minutes, 53 seconds rupees 8,500 to 9,000 crores, significantly strengthening our development pipeline. 6:01 6 minutes, 1 second We executive development agreements for key projects including Lotus Autofino at 6:08 6 minutes, 8 seconds Versova, Lotus Sky Plaza at Oshiara, Lotus Odyssey at Benand, Lotus Avalon in 6:16 6 minutes, 16 seconds Juu, Lotus Imperial in Bandra as well as a mixeduse development in G city. In 6:25 6 minutes, 25 seconds addition, multiple societies have appointed Lotus as their preferred developer such as Lotus uppercase 6:34 6 minutes, 34 seconds Abandra, Lotus Insignia and Lotus Oran reflecting growing trust in our brand. 6:44 6 minutes, 44 seconds During the year, we launched four projects, Amalfi, The Arcadian, Wun and Clesia. 6:53 6 minutes, 53 seconds Within just one year we have achieved sales of 62% in Amalfi, 41% in the 7:01 7 minutes, 1 second Arcadian and 38% in Veron demonstrating strong sales velocity even across recent 7:09 7 minutes, 9 seconds launches and reinforcing the quality and demand for our project. 7:16 7 minutes, 16 seconds Looking ahead, we remain optimistic about our growth trajectory. We have a strong pipeline of 7:25 7 minutes, 25 seconds six plan launches. Lotus Aquaria, Lotus Trident, Lotus Aurelia, Lotus Sky Plaza, 7:34 7 minutes, 34 seconds Lotus Portofino and Lotus Odyssey with an estimated GDP of rupees 5,000 to 5,500 crores. 7:44 7 minutes, 44 seconds Backed by this robust launch pipeline, strong demand outlook and the quality of 7:50 7 minutes, 50 seconds our developments, we are confident of achieving our FY27 guidance of pre-sales in the range of 8:00 8 minutes rupees 1,800 to 2,000 crores along with revenue growth of 55 to 60% and pet growth of 55 to 60%. 8:12 8 minutes, 12 seconds Overall traction remains encouraging and our inquiry pipeline continues to be strong 8:20 8 minutes, 20 seconds giving us confidence in our ability to sign four to six new projects in the coming year and further expand our 8:29 8 minutes, 29 seconds portfolio in a calibrated manner. Before I conclude, I would like to share that 8:36 8 minutes, 36 seconds the board has approved a dividend payout of 50% for FY26. 8:43 8 minutes, 43 seconds In line its long-term growth vision, the promoter group has voluntarily waved its dividend entitlement for FY26. 8:55 8 minutes, 55 seconds The rem retained amount will be utilized new project additions and project development. This reflects the company's 9:05 9 minutes, 5 seconds commitment to discipline capital allocation, growth reinvestment and long-term value creation while 9:13 9 minutes, 13 seconds maintaining a strong balance sheet. With that, I now hand the call over to Mr. 9:21 9 minutes, 21 seconds Sanjay Kumar Jane our CEO to take you through the financial highlights. Thank you. 9:28 9 minutes, 28 seconds Thank you Anir. Let me know now take you through the financial highlight for Q4 and financial year 2026. 9:37 9 minutes, 37 seconds As highlighted earlier during Q4 uh financial year 26 we launched one project Lotus Celestia in Versova in 9:45 9 minutes, 45 seconds March 2026. The project recorded booking of rupees 155 cr and had an estimate GDV 9:54 9 minutes, 54 seconds of rupees 1,400 to,500 crores reflecting strong initial section. 10:01 10 minutes, 1 second Looking we expect to launch three projects in H1 FI 2027. Lotus Aquaria in Prabadivi, 10:10 10 minutes, 10 seconds Lotus Trident and Lotus Sky Plaza in Anderi with a combined revenue potential of over rupees 2,500 to 3,000 cr for the 10:21 10 minutes, 21 seconds full year. We have a robust launch pipeline of six projects. Lotus Aquaria, Lotus Trident, Lotus Ourela, Lotus Esky 10:30 10 minutes, 30 seconds Plaza, Lotus Prophenino and Lotus ODC with with an estimated GDP of rupees 10:37 10 minutes, 37 seconds 5,000 to 5,500 crores. Before moving into the detail financial, I would like to highlight that ongoing global 10:45 10 minutes, 45 seconds geopolitical developments have lead to a moderate increase in input and labor costs. Input input costs have risen by 10:53 10 minutes, 53 seconds approximate 7% while labor costs have increased by around 5%. On an annualized basis, this may translate into a 11:02 11 minutes, 2 seconds approximate 1% increase in overall project cost. 11:06 11 minutes, 6 seconds We continue to closely monitor this trend and are taking appropriate measure to manage cost efficiency. 11:16 11 minutes, 16 seconds Now uh consolated financial highlight for Q4 financial year 2026. 11:22 11 minutes, 22 seconds The sales stood at rupees 462 cr resisting a growth of 177% yearonear. 11:30 11 minutes, 30 seconds Revenue stood at rupes 308 cr reflecting a growth of 62% yearonear. Collection 11:37 11 minutes, 37 seconds for the quarter stood at rupees 82 crores. EIA for the quarter stood at 11:43 11 minutes, 43 seconds rupees 121 cr. EIA margin stood at 39.4% of the quarter. Profit after tax stood 11:51 11 minutes, 51 seconds at 101 cr. Uh registering a growth of 17% yearon year. Expenses towards 11:58 11 minutes, 58 seconds ongoing and upcoming project is stood at which 286.58 cr in Q4 financial 26. Financial 12:07 12 minutes, 7 seconds highlight for financial year 2026. Free sale stood at rupees 1157 cr growing 12:16 12 minutes, 16 seconds 137% yearonear. Leven stood at rupees 769 cr reflecting a growth of 40% yearon 12:23 12 minutes, 23 seconds year. Collection for the year ended March 26 is stood at rupees 376 crita 12:30 12 minutes, 30 seconds stood at rupees 281 cr with iita margin at 36.5%. 12:36 12 minutes, 36 seconds Profit after tax stood at rupees 243 cr. 12:40 12 minutes, 40 seconds Expenses towards ongoing and upcoming project is stood at rupees 718 cr in financial year 2026. 12:48 12 minutes, 48 seconds Net gas as on 31st March 2026 is stood at rupees 697 cr. Adjusted roe stood at 23.7% while ROC is stood at 13.6%. 13:02 13 minutes, 2 seconds Total equity including reserve increased to rups 1918 cr as on 31st March 2026 13:10 13 minutes, 10 seconds compared to rupees 933 cr as on 31st March 2025. 13:15 13 minutes, 15 seconds Projected free cash flow from the completed and ongoing project stood at rups 300,13 cr. While projected free cash flow from 13:24 13 minutes, 24 seconds upcoming project stood at rupes 5,450 cr. Taking a total projected surplus to 13:31 13 minutes, 31 seconds rupes 8,553 crores. During the IPO we raised approximate 792 crores through the press 13:40 13 minutes, 40 seconds issue and net proceed post issue expenses stood at approximate 732 cr. 13:46 13 minutes, 46 seconds Out of this we have deployed uh fund amounting to rupees 394 cr till March 2026. 13:54 13 minutes, 54 seconds With this I would now like to open the floor for questions. 13:58 13 minutes, 58 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the touchstone 14:07 14 minutes, 7 seconds telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. 14:17 14 minutes, 17 seconds Ladies and gentlemen, we will wait for a moment while the question queue assembles. 14:25 14 minutes, 25 seconds We'll take our first question from the line of Wun Shivram from Choice. Please go ahead. 14:31 14 minutes, 31 seconds Uh hi sir. Uh good morning just just a couple of questions from myself. First of all uh from an execution uh 14:38 14 minutes, 38 seconds standpoint just a second. Uh so we have launched a luxury coastline collection. 14:44 14 minutes, 44 seconds So you it's a great way of branding. So how much have you spent and what kind of traction you'll be seeing post this and over FY27 will you be doing more 14:52 14 minutes, 52 seconds marketing and if yes how much will you will we allocate towards that? 14:58 14 minutes, 58 seconds Uh yes morning to you. Uh good question. 15:03 15 minutes, 3 seconds What we have done is this time the we have just started our marketing because earlier company was uh uh only in Jeru 15:11 15 minutes, 11 seconds and Andheri. Now we have uh gone to so many different valuable micro markets 15:17 15 minutes, 17 seconds like uh Mandra and Praadvi and Pinci road and other markets. So we have 15:24 15 minutes, 24 seconds started this marketing campaign number one. Number two, uh we have got nicely 15:30 15 minutes, 30 seconds placed on coastline 11 projects. So we came out with this unique idea to market it like a collection. So it is called as luxury coastline collection. 15:42 15 minutes, 42 seconds uh next year our uh yes definitely we'll be doing this marketing because we are uh we need more visibility uh into newer 15:52 15 minutes, 52 seconds markets, newer micro markets and uh uh reach out to directly to the clients also. So yes, we'll be doing marketing 16:01 16 minutes, 1 second efforts and it will be less than uh 1% of our revenue. 16:09 16 minutes, 9 seconds Understood sir. Thank you for quantifying and thanks for the detailed answer. So my next question would be on how confident are we on achieving the 2,000 crores of pre-sales in FY27 given 16:18 16 minutes, 18 seconds the current scenario of slowdown in the real estate market. 16:23 16 minutes, 23 seconds Uh first of all uh real estate market when you say uh it's very fragmented and 16:30 16 minutes, 30 seconds separate. So we are in ultra luxury segment. So as far as ultra luxury segment there is a very strong demand 16:40 16 minutes, 40 seconds even right now and we feel that everyone who were earlier into lower segment occupying houses in the lower segment 16:49 16 minutes, 49 seconds they also want to go to and shift to ultra luxury segment. So our segment uh total pie is becoming bigger and bigger. 16:59 16 minutes, 59 seconds So we don't expect any issues. uh and also what happens with this kind of ticket size which is more than 10 cr 12 17:08 17 minutes, 8 seconds cricket size the external forces do not dictate uh their decision of buying so 17:16 17 minutes, 16 seconds we are very confident that we'll be able to achieve that and next year I mean this current year we are going to launch 17:24 17 minutes, 24 seconds six new projects so uh the current four project and this new six project all 17:31 17 minutes, 31 seconds together about 10 project will give us uh 1,800 core of our pre-sales. 17:40 17 minutes, 40 seconds Understood, sir. Thank you so much. I'll get back in the view for further question. Thank you. 17:45 17 minutes, 45 seconds Thank you. Next question is from the line of Sam Kandelwal from ICA securities. Please go ahead. 17:53 17 minutes, 53 seconds Good morning. Congratulations on a very good perform. Can you use your handset mode please? Your audio is not very clear. 18:02 18 minutes, 2 seconds Is it better now? Yeah, little better. Please go ahead. 18:07 18 minutes, 7 seconds Yeah. Uh congratulations on the very good set of numbers. Um in the Barova project that we have launched, you know 18:15 18 minutes, 15 seconds how much of the inventory we have sold in in units in apartment sizes if you could share. 18:24 18 minutes, 24 seconds So uh Amali uh which was uh launched last year we have sold about 61% of inventory 18:32 18 minutes, 32 seconds approximately and uh this year which we have 18:39 18 minutes, 39 seconds Clesia is about 14 14%. 14,000 14,000 square ft approximate we have sold there. 18:48 18 minutes, 48 seconds Okay. Okay. Okay. And sir, uh since you're in the ultra luxury segment, we are hearing news about uh delay in 18:55 18 minutes, 55 seconds supply chain for the products. So how do you see that uh affecting our projects timeline? 19:04 19 minutes, 4 seconds Uh fortunately we do not have any uh import component in our supply chain. So 19:11 19 minutes, 11 seconds we are in a way insulated with this uh geopolitical issues. 19:19 19 minutes, 19 seconds Okay. Okay. Thank you. Thank you. Thank you. 19:23 19 minutes, 23 seconds Thank you. We'll move on to our next question from the line of Majid Ahmed from Pinpoint X Capital. Please go ahead. 19:32 19 minutes, 32 seconds I'm audible sir. Yes, please go ahead Majid. 19:36 19 minutes, 36 seconds Yes sir. Uh thank you for the opportunity sir. A very good set of numbers. Uh sir my first question that I 19:42 19 minutes, 42 seconds have is uh for the completed projects there has been an improvement in ark one in terms of the realization like hasn't 19:51 19 minutes, 51 seconds been any kind of price increase there in that micro market uh especially with that project uh which 19:59 19 minutes, 59 seconds is a very unique project uh it's a redevelopment of existing office building uh I don't know uh any other 20:08 20 minutes, 8 seconds developer who has done that but we took up this project as a redevelopment and that uh building has come up very nicely and people have really appreciated that. 20:19 20 minutes, 19 seconds So it's not about that micro market but that particular building we since we achieved the occupation certificate and 20:28 20 minutes, 28 seconds other eminities got completed the prices has gone up. 20:33 20 minutes, 33 seconds Okay sir got it sir. Uh sir if you can uh on the ongoing project uh of the pre-sales what we achieved how much have 20:40 20 minutes, 40 seconds we converted into revenue and uh like uh that was not present in the presentation if you can include that it will be helpful for investors. 20:50 20 minutes, 50 seconds Yeah okay we'll do so. 20:56 20 minutes, 56 seconds Okay. Like uh sir as of now how much is the revenue sir as of now of the pre-sales of 866 crores that we included? 21:06 21 minutes, 6 seconds Uh 66 total pre-sale of 1157 you are talking about or specific project you are asking. 21:12 21 minutes, 12 seconds Yeah of the ongoing project how much have we uh recognized in the income statement for this year? So for 1157 cr 21:20 21 minutes, 20 seconds we have recognized 460 cr revenue that. 21:26 21 minutes, 26 seconds Okay sir got it. Uh sir and secondly I was thinking of this is this is in Q4. Q4 we are talking about. 21:36 21 minutes, 36 seconds Okay sir. 21:38 21 minutes, 38 seconds Uh got it sir. And sir uh when I'm seeing many of your upcoming projects like Lotus Monarch, Lotus Avalon, Lotus 21:46 21 minutes, 46 seconds Solana, all these projects are now getting delayed like more than like three four quarters like what is the reason any kind of approval issue or anything happening. 22:00 22 minutes So uh two projects we have we have to get multiple uh uh approvals. one is one 22:09 22 minutes, 9 seconds is existing uh hospitals. So we need to construct that hospital and get our uh 22:17 22 minutes, 17 seconds sale area separately. So that's why it is taking a little more time. Got it sir. 22:24 22 minutes, 24 seconds And sir when I was looking to Lotus Celestia the last presentation your rera carpet area was uh 177,000 and now it is 22:33 22 minutes, 33 seconds reduced by 17,830 square foot like why what has led to the difference in local? 22:41 22 minutes, 41 seconds Yeah. 22:42 22 minutes, 42 seconds So Majit this is Sanjay. So regarding what happened in the rera carpet area balcony area is excluded. It is in the 22:50 22 minutes, 50 seconds FSA constructed in FSI but the RA does not allow to include the balcony area 22:58 22 minutes, 58 seconds that's the reason the net r carpet area is lesser than the 171. 23:05 23 minutes, 5 seconds Okay sir. uh sir about lotus residency project uh like the in the last presentation it was mentioned lotus 23:13 23 minutes, 13 seconds residency but I'm not able to see into the current one the upcoming project we have changed the name of the this uh 23:21 23 minutes, 21 seconds project because the existing society name is the residency so we have not named that so now we have named that 23:30 23 minutes, 30 seconds inia is the name of the lotus inmia is the lotus residency we we what we do is all our redevelopment 23:37 23 minutes, 37 seconds project we don't generally continue the old name because it gives a smell of old redeveloped building rather than that we 23:46 23 minutes, 46 seconds change the names every time so we have changed the name uh what about Lotus Equator in Praadi 23:55 23 minutes, 55 seconds like any previews are we looking uh we'll be launching it very soon uh work has already started 24:04 24 minutes, 4 seconds recorded Sir, so finally like going forward the margins would sustain at this level or do you see any kind of uh uh kind of any 24:13 24 minutes, 13 seconds hit in your margin due to the marketing spins that you're looking at? 24:17 24 minutes, 17 seconds So marketing spend as I said it could be even less than 1%. 24:22 24 minutes, 22 seconds But again against that we will be having our lot of direct customers also. So that will take care about uh uh not 24:30 24 minutes, 30 seconds paying other commissions. So Martin uh we are very confident that it will be in the same range what we have guided. 24:38 24 minutes, 38 seconds Okay sir. So finally like just want to appreciate the company's thought process on the ongoing dividend 24:46 24 minutes, 46 seconds uh really uh like so like what's the rational sir like for the dividend policy as of now? 24:54 24 minutes, 54 seconds So uh right now we are in process of formulating dividend policy. We don't have dividend policy right now but we 25:01 25 minutes, 1 second will be deliberating at uh uh our next meetings but right now we have declared 25:07 25 minutes, 7 seconds 50% uh dividend for nonpromoters all non-promoters we want to uh uh start giving them the dividend. 25:19 25 minutes, 19 seconds Okay so got it. Uh thank you s all the that's thank you. Next question is from the 25:27 25 minutes, 27 seconds line of Nikil Oswall from Oswall Investments. Please go ahead. 25:32 25 minutes, 32 seconds Hello. Uh congratulations on a good set of numbers sir. Sir um I had a little bit of concern on the collections uh 25:40 25 minutes, 40 seconds part. So last quarter when uh we attended the conference call you guided that the collections in Q4 will be much better than Q3. 25:49 25 minutes, 49 seconds uh but having said that the collections again have come to only around 80 odd crores uh against a revenue of 308 25:56 25 minutes, 56 seconds crores. So and so again what I understand is u how we collect is u on a percentage completion basis. So when 26:03 26 minutes, 3 seconds when you put up uh you know slab by slab uh then you ask the customers to you know uh pay that portion of the uh the 26:12 26 minutes, 12 seconds completed part. So then in that case why the collections are so low? I just wanted some understanding on this sir. 26:20 26 minutes, 20 seconds Uh NL this is Sanjay Jan. So regarding the uh collection what happened you are rightly say that it is linked with the 26:28 26 minutes, 28 seconds construction uh schedule. So, so what happen the expenses incurred during uh 26:35 26 minutes, 35 seconds uh the uh up to Clint is high and then after the RCC's there is the low 26:42 26 minutes, 42 seconds construction cost and reason behind the our all four projects which are newly launched are in the currently in the 26:50 26 minutes, 50 seconds basement. So we are targeting that this quarter and next quarter. So this half a 26:58 26 minutes, 58 seconds year we will get the good collection because uh there is the uh due from the 27:06 27 minutes, 6 seconds client will be increased as a construction will be progress. 27:11 27 minutes, 11 seconds Okay. So but you would have uh again asked the clients for the payment right because whatever is done uh that particular part at least you you have 27:19 27 minutes, 19 seconds recognized and and then what's the concern I mean the clients are they not paying or how is it? 27:26 27 minutes, 26 seconds The issue is I will explain you when your project is in basement 27:31 27 minutes, 31 seconds uh few% of money is uh uh due once you 27:39 27 minutes, 39 seconds come to PL then there are some percentage due then there is a slap wise so uh right now our all the four 27:48 27 minutes, 48 seconds projects are in basement level so that's why you know even though there is a recognization of sale but the collection 27:56 27 minutes, 56 seconds we cannot uh take the collection more but as soon as they come on all the project on the plane then there will be 28:04 28 minutes, 4 seconds a continuous flow okay sir got it so Q1 onwards uh the collection should pick up right Q 28:13 28 minutes, 13 seconds yes okay sir thank you and all the best thank you before we take the next question would like to remind 28:21 28 minutes, 21 seconds participants to ask a question please press star and one on your phone. 28:26 28 minutes, 26 seconds Next question is from the line of hers from Motila Loal. Please go ahead. 28:32 28 minutes, 32 seconds Hi, good afternoon and team. Uh so I just wanted to know uh where are we on the approval stage for the H1 launches Aquaria Sky Plaza and Trident? 28:45 28 minutes, 45 seconds uh almost all the approvals are in place of almost you want uh separate every every 28:55 28 minutes, 55 seconds project wise yes yes so trident we have got the full approval 29:02 29 minutes, 2 seconds uh sky plaza almost I would say about 80% approvals we have got uh then aquaria 100% approval we have 29:11 29 minutes, 11 seconds got work has already started Okay. So, Aquaria and Tiden we are uh 29:19 29 minutes, 19 seconds thinking to launch in the current month or it will spill over to June. 29:23 29 minutes, 23 seconds This this quarter this quarter we will be launching. 29:27 29 minutes, 27 seconds Okay. Okay. Got it. Got it. And uh in terms of traction across this projects uh since you know one is a residential 29:34 29 minutes, 34 seconds project the other two are commercial ones. How are how are we seeing traction in terms of demand for the commercial space and the residential one? How how 29:42 29 minutes, 42 seconds is the inquiry? How is the response we have gotten on the EUI stage? 29:47 29 minutes, 47 seconds Uh commercial uh is doing extremely well uh across all the micro markets and 29:54 29 minutes, 54 seconds residential in ultra luxury also has a very strong demand. 30:00 30 minutes Sure. So how are we thinking in terms of pricing with respect to the micro market? How are we thinking to place these products? 30:08 30 minutes, 8 seconds So both the even the commercial also will be uh launching like a luxury collection only. 30:18 30 minutes, 18 seconds Okay. But uh as you know our pricing in any micro market uh we are about 10 to 30:25 30 minutes, 25 seconds 20 25% higher than any other uh competitor. 30:32 30 minutes, 32 seconds Understood. So we'll following the same thing inside. 30:36 30 minutes, 36 seconds Absolutely. Absolutely. And in terms of the second launches in the second half the balance three projects uh when are we on the approval stage and how 30:44 30 minutes, 44 seconds confident are we on you know doing the launches in the second half so that uh remaining three also I think we'll be 30:53 30 minutes, 53 seconds having all April in uh this quarter only. So next quarter we'll be uh launching all three projects. 31:02 31 minutes, 2 seconds Okay understood sir. Thank you. Thank you so much. Thank you. 31:08 31 minutes, 8 seconds Thank you. Next question is from the line of Ashok Sha from Eklavia Invesco family office. Please go ahead. 31:19 31 minutes, 19 seconds Mr. Ashok Sha your line is unmuted. Please go ahead with your question. Yeah. Thanks for taking my questions. 31:25 31 minutes, 25 seconds Sir, we had a one project in central suburb coper. So what was the whether it 31:31 31 minutes, 31 seconds has been uh closed and what is the loss realized? 31:37 31 minutes, 37 seconds Uh there is no loss in that uh uh project. It's on final hearing at Supreme Court. Uh there are some six 31:45 31 minutes, 45 seconds bungalow owners and society. Uh they both have uh gone to the court. We have 31:52 31 minutes, 52 seconds no uh role into that. But it has it is now reached to the final stage. we can uh have conclusion by this year. 32:01 32 minutes, 1 second So if it is in our favor then what would be could be the size of this project? It could be a very big project. 32:10 32 minutes, 10 seconds So it is around 600 kores GDV project. 32:14 32 minutes, 14 seconds Okay. Okay. And uh secondly sir I just wanted to have give appreciation for not taking dividend for dividend uh giving 32:22 32 minutes, 22 seconds dividend to other shareholders and that's all from my side. Thank you. Thank you. 32:29 32 minutes, 29 seconds Thank you. Ladies and gentlemen, to ask a question, please press star one on your phone. Next question is from the 32:37 32 minutes, 37 seconds line of Sakshi Prattab from Prattab Securities. Please go ahead. Hello. 32:44 32 minutes, 44 seconds Yes Sakshi, please go ahead. 32:46 32 minutes, 46 seconds Uh hi sir. Uh congratulations on the great set of numbers. Firstly, sir, uh two questions from Mayan. First given 32:53 32 minutes, 53 seconds the geopolitical tensions are you seeing any pressure on cost and uh how do you see the demand environment going is there any slowdown that we facing? 33:05 33 minutes, 5 seconds So this has got uh two different aspects. Number one is uh yes uh there 33:13 33 minutes, 13 seconds would be some inflation and some cost rise but that cost rise in totality of the project will not be more than about 33:22 33 minutes, 22 seconds 1 and a half to 2 and a half%. Uh because uh let's say uh about 20% I 33:30 33 minutes, 30 seconds would say about 20% is our construction cost from uh our uh selling price. So on that it may be about 10% uh cost rise. 33:42 33 minutes, 42 seconds So effectively in the whole project it would be two two and a half% not more than that. That's one. Second because of 33:50 33 minutes, 50 seconds this tension on uh positive side lot of NRIs and HNI have started looking Mumbai 33:59 33 minutes, 59 seconds as their investment destination. So that advantage we are getting this. 34:07 34 minutes, 7 seconds Got it. Answer the second question. Any plans to sign new commercial developments to uh uh add in the pipeline and what would be the average 34:16 34 minutes, 16 seconds realization that you will target for any such uh commercial project? 34:21 34 minutes, 21 seconds So we already have uh two uh new commercial projects which we will be launching uh uh for for first half of 34:30 34 minutes, 30 seconds this year and uh depending on where we are you know in which market because this both the projects are in uh Andere 34:38 34 minutes, 38 seconds West micro market so pricing will depend on uh uh market of course but we'll be 34:45 34 minutes, 45 seconds able to fetch 10 to 15% or 20% more than our rivals. 34:53 34 minutes, 53 seconds Got it. Thank you. Thank you so much for the detail. Thank you. 34:59 34 minutes, 59 seconds We'll take our next question from the line of Sedat S from Nafa. Please go ahead. 35:07 35 minutes, 7 seconds Uh Sedra, I would just like to get a hint on what the collection trends are going to be. 35:14 35 minutes, 14 seconds So there's been a disappointment in the last quarter in terms of you know collections not catching up with the Okay. Give me a a hint on that that would be really helpful. 35:25 35 minutes, 25 seconds I see that. So the we earlier also explained that because the all the projects are under uh in the basement so 35:33 35 minutes, 33 seconds the collection once the the super structure will start the collection will be improved. So uh you will get uh get 35:43 35 minutes, 43 seconds the collection will be much better in this quarter and next quarter. 35:55 35 minutes, 55 seconds Okay. So uh so in general this quarter expecting it to you know uh accumulate or you know this is the quarter that you 36:01 36 minutes, 1 second know expects you know highest form of gentle as 36:09 36 minutes, 9 seconds can you repeat it the voice is not clear your voice is not clear Sat your audio is not clear please use your handset more and speak a bit louder 36:16 36 minutes, 16 seconds please hello Sedat 36:24 36 minutes, 24 seconds is There is no response. Yeah. As there are no further questions, I would now like to hand the conference over to management for closing comments. Over to you, sir. 36:36 36 minutes, 36 seconds Uh we thank you. We thank everyone for joining the call today. To conclude, this quarter underscores not only strong 36:44 36 minutes, 44 seconds financial performance but also the resilience and scalability. 36:50 36 minutes, 50 seconds As we continue to deepen our presence in Mumbai, our focus remains on translating 36:57 36 minutes, 57 seconds our robust pipeline into predictable cash flows and sustained profitability. 37:04 37 minutes, 4 seconds What differentiates Lotus is not merely growth but the quality of growth. We continue to operate with a strong 37:12 37 minutes, 12 seconds profitability supported by healthy margins, robust returns ratios and a net cash balance 37:21 37 minutes, 21 seconds sheet. Our business model anchored in disciplined project selection, premium micro market positioning and execution 37:30 37 minutes, 30 seconds excellence ensures that growth remains consistent and valuebased across cycles. 37:37 37 minutes, 37 seconds We thank you for your continued engagement and confidence. For any further queries or clarifications, 37:45 37 minutes, 45 seconds please feel free to reach out to SGA, our investor relations advisors. Thank you once again and have a good day. 37:56 37 minutes, 56 seconds Thank you. On behalf of Shri Lotus Developers and Reality Limited, that concludes this conference. Thank you for joining us and you may now disconnect