Sri Lotus Developers to turn old Mumbai buildings into ₹10–50 crore flats
Sri Lotus Developers to turn old Mumbai buildings into ₹10–50 crore flats
With the backing by Shah Rukh Khan Amitabh Bachchan
Hrithik Roshan and Ashish Kacholia
Sri Lotus Developers is to focus on redeveloping old Mumbai buildings into ₹10–50 crore luxury apartments.
Reportedly, the
Mumbai-based
Sri Lotus Developers and Realty Ltd, is set to launch its Initial Public Offering (IPO) next week with the realty company aiming to raise around ₹792 crore to fund three ongoing real estate projects in Mumbai.
The developer will continue to focus on prime city locations, laying emphasis on redeveloping old buildings to deliver luxury apartments priced amid ₹10 crore and ₹50 crore.
As of June 30, 2025, the Realty company had completed 0.93 million sq ft of developable area, spanning both residential and commercial assets, with a future pipeline exceeding 1.8 million sq ft. Its portfolio includes four completed projects, five ongoing ones, and 11 upcoming developments located in areas such as Andheri, Juhu, Bandra, and South Mumbai.
Plans are afoot by the company to expand further into South and Central Mumbai locations like Nepean Sea Road and Prabhadevi, as well as eastern suburbs including Ghatkopar.
The statement reveals that the company has four-completed projects, five ongoing projects, and 11 upcoming projects in areas such as Andheri, Juhu, Bandra, and South Mumbai.
Shah Rukh Family Trust-backed Sri Lotus Developers gets SEBI nod for ₹792 crore IPO
The company’s developments focus primarily on ultra-luxury residential and commercial properties. It constructs and develops 2BHK and 3BHK flats with a price range of ₹ 3 crores to ₹ 7 crores and 3BHK, 4 BHK, and 4+ BHK flats and penthouses with a price range above 7 crores.
According to Anand Pandit, Chairman and Managing Director of Lotus Developers, “Going further, their plan is to focus on products in the ₹10 crore to above ₹50 crore price range.
They want to focus on luxury and ultra-luxury projects, considering that is what their focus has been. They aren’t in any debt as such right now to raise an IPO, but considering they are in the redevelopment space and luxury projects, having an IPO and listing it adds value to our brand.”
Shah Rukh Khan owned Mumbai Society sea-facing flat to be redeveloped by IPO-bound Sri Lotus Developers
of the company
In December 2024, Sri Lotus Developers had raised approximately ₹400 crore through a private placement of 26.61 million shares at ₹150 per share. Among the investors, Bollywood star Amitabh Bachchan purchased around 6.7 lakh shares for ₹10 crore, while the Shah Rukh Khan Family Trust acquired about 6.75 lakh shares for ₹10.1 crore.
Shree Amrit Society on Carter Road in Mumbai’s Bandra, where Shah Rukh Khan owns a sea-facing terrace apartment, had in June 2025, appointed IPO-bound Sri Lotus Developers and Realty Limited for its redevelopment.
Shah Rukh Khan purchased the apartment in the Shree Amrit building after his marriage, making it his first property acquisition in Mumbai. As such, it holds significant sentimental value. Although Khan does not live there and hasn’t rented it out, the apartment has been well maintained.
News Edit KV Raman
