The Micromax Yu Yuphoria and Yu Yureka are bound to receive the latest Cyanogen 12.1 update after the later got the it in the month of April. The latest Yu Yuphoria was launched with Cyanogen 12 out of the box.
Rahul Sharma the CEO of YU has officially confirmed that both Yu Yuphoria and Yu Yureka Cyanogen 12.1 update is in final phase of testing and within few week of time the update will be rolling out to both of Yu brand phones.
The Cyanogen OS 12.1 update is based on Android 5.1 Lollipop and before it's made public, beta tester can report bugs. The upcoming update will bring out several bug fixes, stability improvements and improved camera performance.
Both of them got the CyanogenMod 12.1 Nightlies this week itself and this can be downloaded from CyanogenMod website. Good to hear that installing any custom ROM will not void warranty of your device.