WE’RE BOUTIQUE, AGILE AND EXCLUSIVE

How has your previous tenures as Director with Banks and HUDCO shaped your approach to real estate?
My directorships were non-executive, but being part of various committees gave me a deep insight into business at large and understanding of f inancial discipline. I continue to follow the SPV model, wherein each project has its own company, and funds are never diverted. That discipline has led me to execute fast and keep the company debt-free.

How has been the company’s IPO journey and how do you plan to utilize the funds.
I never imagined going public. We were a private, boutique company. But listing brings credibility, access to capital and creates a platform for the next generation. The challenge was visibility: we’ve never advertised and don’t even have sales offices. We’ve always positioned ourselves as a high-end product company, not a mass-market player. That made the IPO journey challenging but exciting. Out of Rs792 crore, around Rs 550 crore is earmarked for three ongoing residential projects. The rest will go toward general corporate purposes. Only 25–30% of our portfolio is commercial and we might explore the South India in near future.

What is the company’s marketing strategy?
We focus on product, not promotion. Around 30–40% of our business comes from referrals. It’s appointment buying, not exploratory. We restrict ourselves to ultra-luxury and Uber-luxury, with ticket sizes starting at Rs10 crore. We operate in micro-markets like Juhu and Bandra, where families already know us. We’ve expanded to micro-markets like Versova Beach, Prabhadevi —but the audience remains HNIs and UHNIs. We treat real estate like a product, not a project. No land bank, no marketing spends. Our “Blue & Green” theory means every site must face water or garden.

You’re also a film producer, do entertainment and real estate sectors overlap?
Entertainment has helped build relationships and a clientele for our uber luxury projects. Also, celebrities have seen the best real estate globally & they inspire our projects. Our benchmark is: “Would Amitabh Bachchan like this?” That sets the bar high.

One of your most talked about projects is Shree Amrit Housing Society where Sharukh Khan has a home.
It’s an iconic society where Shah Rukh Khan purchased the apartment after his marriage, making it his first property acquisition in Mumbai. The land parcel is a sea-facing plot spread over an acre on Main Carter Road. After a year-long process of shortlisting the developer for redevelopment, Sri Lotus was selected. We’ll build a super-luxury residential tower to be completed by FY2027 and the project is expected to generate a topline of Rs1,500–2,000 crore.

When someone like Amitabh Bachchan praises Sri Lotus property as better than London or New York—that’s the epitome of professional satisfaction.