YU Yureka will be getting the Lollipop Update soon.

Micromax owned YU-Televentures has earlier planed to release the Android 5.0 Lollipop based CyanogenMod 12S update by the first week of April, but that didn't happen unfortunately. Now the Indian startup’s official forum carries a post stating that Android Lollipop for Yureka can be expected soon by this week end.
As you all know the Yureka smartphone comes with a special modification over CyanogenMod which itself is a modification over Android. The CyanogenMod 12S also going to come with OnePlus One and for that handset also the ROM is for approval and hence it is much near this time the ROM will include some more goodies then what already is their. The ROM has been submitted to Google for approval. Once approved, it will be rolled to the Yureka.