Date: June 19, 2026

Company Overview

Suratwwala Business Group Ltd. (SBGL) is a Pune-based listed company operating through two complementary businesses—real estate development and renewable energy. The company has built a strategic land bank across Pune's growth corridors while expanding its solar EPC and long-term PPA portfolio.

Meeting Details

The management of the Company met with group of investors held by Samruddhi Season 3 – Nav-Bharat ka Caravan, organized by Hem Securities Ltd through virtual mode on Friday, June 19, 2026 from 05:00 P.M to 06:00 P.M. Participants from the company included Mr. Jatin Dhansukhlal Suratwala (Managing Director), Mr. Manish Kasliwal (Chief Financial Officer), and Mr. Meghesh Puranik (Solar Head).

Financial Performance

FY26 marked a significant milestone for the company with:

  • Revenue: ₹143 crore
  • PAT: ₹38 crore
  • Net Worth: ₹110 crore

Management emphasized that growth has been achieved while maintaining disciplined capital allocation and balance sheet strength.

Segment Performance

Real Estate

  • Revenue: ₹89 crore
  • PBT: ₹41 crore
  • Margin: ~46%

Renewable Energy (through subsidiary Suratwwala Natural Energy Resource Pvt Ltd)

  • Revenue: ₹54 crore
  • PBT: ₹10 crore
  • Margin: ~19%

The renewable energy business has emerged as a meaningful second growth engine alongside real estate.

Real Estate Portfolio

The Company's flagship commercial project, Suratwala Mark Plazzo (SMP), continues to demonstrate strong monetization. Upcoming residential developments include:

  • Prabhat Road Ultra-premium residential project
  • Kasar Amboli Premium villa development

Management stated that approximately saleable 6 lakh sq. ft. of projects are currently under execution.

Strategic Land Bank

SBGL has accumulated approximately 180 acres across Pune growth corridors over the past decade. Management believes this land assets provide substantial future development potential and are carried on the balance sheet at historical acquisition costs.

Renewable Energy Business

The renewable energy platform continues to expand steadily:

  • FY26 Solar revenue stood at ₹54 crore
  • Current executable order pipeline is approximately ₹100 crore
  • The company already has 3 MW of operational PPA assets, generating recurring long-term income

Operational Updates

Management shared key operational highlights:

  • Around 80% of existing inventory has already been sold
  • Historical realization remains in the range of ₹9,000–10,000 per sq. ft.
  • Approximately ₹100 crore worth of bookings have already been achieved

Financial Position

  • Total group debt stands at approximately ₹80 crore
  • Around ₹50 crore is project-specific debt
  • Debt-to-equity ratio remains below 0.8x
  • Management highlighted that the company has never defaulted on any debt repayment since inception

Growth Strategy & Expansion

Management outlined a long-term strategy focused on:

  • Expanding real estate operations beyond Pune
  • Scaling the solar EPC and renewable energy platform
  • Pursuing organic growth supported by strategic acquisitions where appropriate
  • Maintaining disciplined capital allocation and governance standards

Governance & Organization

The company has strengthened its governance framework through:

  • Qualified professionals as independent directors
  • Professional management across finance, legal, execution and renewable energy divisions
  • Strong internal controls and unmodified audit reports

Management reiterated that governance enhancement remains an ongoing priority.

Management Outlook

The company remains focused on project execution, monetization, cash conversion and long-term shareholder value creation. Management expects both the real estate and renewable energy businesses to contribute meaningfully to future growth while leveraging its strategic land bank and disciplined capital structure.