Real estate developer Sri Lotus Developers Ltd. reported strong year-on-year growth in its June-quarter earnings, driven by a sharp rise in revenue.
Consolidated net profit increased 77.7% to Rs 45.5 crore from Rs 25.6 crore a year ago.
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Revenue from operations more than doubled to Rs 132 crore from Rs 61.3 crore in the corresponding quarter last year.
At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 63.4% year-on-year to Rs 48.2 crore from Rs 29.5 crore. However, the EBITDA margin narrowed to 36.4% from 48.1% a year earlier.
Sri Lotus Developers Ltd. is a Mumbai-based luxury real estate developer focused on premium and ultra-luxury residential projects.
The company primarily operates in Mumbai's western suburbs, with a portfolio spanning redevelopment projects, joint development agreements and greenfield developments catering to the high-end housing segment.
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