Sri Lotus Developers shares jump 3% to fresh 52-week high after Capital Group buys nearly 2% stake

Shares of Sri Lotus Developers and Realty jumped 3% to hit a fresh 52-week high on Friday after a Capital Group fund picked up nearly 2% stake in the real estate developer, boosting investor sentiment.

Sri Lotus Developers in a press release said Capital International, the world's largest active fund manager, picked up the stake as promoter Anand Kamalnayan Pandit sold 97.70 lakh shares or 2% of the company’s total stake through an open-market transaction at Rs 199.90 apiece, taking the total worth of his stake sale to more than Rs 195 crore.

Anand Kamalnayan’s stake sale was done to comply with the applicable minimum public shareholding requirements, taking promoter and promoter-group holding down from 81.87% to 79.87%, the company said. “The recent promoter transaction also represents a step towards broadening the public shareholding base,” it added.


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Sri Lotus Developers share price

Sri Lotus Developers shares hit a fresh 52-week high of Rs 215 apiece on Friday. The shares made a decent market debut in August last year, listing at a premium of nearly 19% over IPO price at Rs 178 apiece on NSE.

This came after the company’s Rs 792 crore IPO, which entirely comprised a fresh issue of 5.28 crore shares, drew strong interest from all categories of investors, closing with an overall subscription of more than 74 times. After the market debut, the stock jumped around 23% in the same month to hit a lifetime high of Rs 218.49 apiece, before beginning to sharply decline.

The stock more than halved in less than eight months to hit a lifetime low of Rs 102 apiece in March this year. The stock has more than doubled since then to trade at Rs 215 apiece today.

Sri Lotus Developers Q1 Results

Sri Lotus Developers in August reported a 77% increase in its consolidated net profit to Rs 45.72 crore for the first quarter of FY27, from Rs 25.78 crore reported in the year-ago period.

Total income rose to Rs 145.99 crore in the first quarter of the 2026-27 fiscal from Rs 68.09 crore in the corresponding period of the previous financial year.

Also read | Sri Lotus Developers & Realty eyes Rs 1,600 cr revenue from commercial project in Mumbai

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