Sri Lotus CMD Anand Pandit outlines IPO strategy, future growth plans
Bollywood Stars and ace investor Ashish Kacholia backed Sri Lotus Developers and Realty has launched its ₹792 crore IPO, which is completely a fresh issue of equity shares with no offer for sale (OFS) component.
In an exclusive conversation with Fortune India, Anand Pandit, Chairman & Managing Director, Sri Lotus Developers, shares the company’s IPO strategy and future growth plans.
On IPO journey, Pandit said, “Our journey began with traditional real estate - buying, constructing, and selling spaces. Up until around 2016, that was our core model. However, from 2017–18 onward, we pivoted toward redevelopment of societies and asset-light models, particularly in the luxury real estate space. This shift has defined our current strategy.”
He said that the IPO proceeds will primarily be used to fund ongoing redevelopment projects and strengthen the company’s financial position for future growth. “Currently, we are a net debt-free company. The only outstanding debt is around ₹140 crore, and that too is from the promoter or promoter-related entities.”
On business model, Sri Lotus Developers CMD said, “Our business model is focused on redevelopment, particularly in the luxury and ultra-luxury segment. We’ve already completed seven redevelopment projects in prime Mumbai locations. The success of these projects has validated our approach, and we now aim to scale aggressively by acquiring more redevelopment projects.”
Speaking about competition in luxury market, Pandit said, “There’s often a misconception that the luxury segment is saturated. But I believe the ultra-luxury segment is expanding, not saturating. Everyone aspires to upgrade from premium to luxury, and from luxury to ultra-luxury. So, the pyramid is always rising.”
