Sri Lotus Developers and Realty Limited

Anand PanditManaging Director and Chairman

Good morning, everyone, and a very warm welcome to the Q2 and H1 FY27 Earnings Call of Sri Lotus Developers and Realty Limited. Joining me today are our CEO, Mr. Sanjay Kumar Jain; our CFO, Mr. Rakesh Gupta; and our Investor Relations Advisors from SGA. Our investor presentation has been uploaded to the stock exchanges and our website, and we hope you have had a chance to go through it. Let me begin with a brief update on the real estate market. Mumbai remains India’s largesthousing market, with sales in the first nine months of calendar 2026 at their highest since 2018, and the luxury segment continues to lead.

In the first half of the calendar year, sales of homes priced above INR10 crores reached a record of over INR18,500 crores, while prime residential prices rose 6.2% year-on-year, more than twice the global average. Demand is driven largely by end users upgrading to larger homes in better locations, while scarce land in prime micromarkets makes redevelopment the principal route to new supply, precisely where Lotus has built its capability. Before I begin with the business update, a word on interest rates. Earlier this month, RBI raised the repo rate by 25 basis points to 5.5%, its first increase since early 2023. While this is likely to weigh on affordable and mid-income housing, the luxury segment is far less sensitive to borrowing costs.