Sri Lotus Developers shares rise 4% as it enters Gujarat with GIFT City project

Shares of Sri Lotus Developers and Realty Ltd gained over 4% on Wednesday, January 7, after the Mumbai-based developer said it has signed a large-scale development project in Gujarat.

The redevelopment project spread across a built-up area of over 1 million square feet in GIFT City, Gandhinagar, marks the developer's foray outside Mumbai. 

In a regulatory exchange, the company said it has signed a Development Agreement with Abhishek Bachchan for the project, which will be executed through its subsidiary, Rise Root Projects Pvt. Ltd.

The agreement follows a profit-sharing model, allowing Sri Lotus to adopt an asset-light strategy while leveraging its expertise in design, planning, development, and execution. The approach is expected to improve capital efficiency as the company expands into a high-growth real estate market.

The project will include premium retail, Grade-A commercial office spaces, and high-end residential units, the company said. It is aimed at meeting rising demand from financial institutions, fintech companies, and IT/ITeS firms operating in GIFT City, which is positioning itself as a global financial and business hub.

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Anand K Pandit, Chairman and Managing Director, Sri Lotus Developers & Realty Ltd, commented that the company has expanded to the GIFT City area to meet rising demand for premium and ultra-luxury residential and commercial spaces. 

Earlier this week, the company signed a redevelopment project in Lokhandwala, Andheri (West), strengthening its presence in the luxury real estate segment.

In August 2025, the company listed on BSE and NSE, raising ₹792 crore via a heavily oversubscribed initial public offering (IPO). At present, it has a market capitalisation of ₹8251.61 crore. 

Shares of the company settled at ₹167.42 apiece, which is 4.20% higher than the day's opening on the NSE.

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