Operational Highlights (FY26)

  • Sales Value: ₹615 Crores, an increase of 23% year-over-year (YoY) from ₹501 Crores in FY25.
  • Sales Area: 1,31,167 Sq. ft., an increase of 42% YoY from 92,136 Sq. ft. in FY25.
  • Collections: ₹421 Crores, an increase of 9% YoY from ₹386 Crores in FY25.

The company achieved its FY26 sales guidance of ₹600 Crores.

Consolidated Financial Highlights (FY26)

  • Total Income (includes other income): ₹561 Crores, an increase of 1% YoY from ₹553 Crores.
  • EBITDA (includes other income): ₹223 Crores, an increase of 8% YoY from ₹207 Crores.
  • EBITDA Margin: 39.7%, compared to 37.4% in FY25.
  • Profit After Tax (PAT): ₹90 Crores, a decrease of 10% YoY from ₹100 Crores.
  • PAT Margin: 16.2%, compared to 18.2% in FY25.

The decline in PAT is attributed to higher finance costs arising from recent acquisitions and ongoing business development activities.

Business Updates & Strategic Progress

  • Project Launches: Successfully launched three projects during FY26:
  • Suraj One Business Bay
  • Suraj Parkview 1
  • Suraj Aureva
  • These launches have a cumulative Gross Development Value (GDV) of approximately ₹1,600 Crores across commercial and residential segments.
  • Land Acquisition: Acquired a strategically located land parcel at Sayani Road, Prabhadevi. This parcel has an estimated GDV potential of approximately ₹200 Crores.
  • Pipeline Expansion: Signed a Memorandum of Understanding (MOU) for the acquisition of development rights for a land parcel contiguous to the Suraj One Business Bay project. This is expected to provide:
  • Incremental saleable carpet area of ~1.50 lakh sq. ft.
  • Incremental GDV potential of ~₹800 Crores.
  • The combined GDV potential of the expanded Suraj One Business Bay project would be over ₹2,000 Crores.

Management Commentary

Mr. Rahul Thomas, Whole-time Director, commented on the strong execution and strategic progress in FY26, driven by healthy sales momentum and successful launches. He highlighted commercial developments as an important growth driver due to increasing demand for premium office assets in South-Central Mumbai. The management remains focused on sustaining launch momentum, accelerating execution, and driving monetization across its expanding portfolio, expressing confidence in sustaining long-term growth.

Company Background

Suraj Estate Developers Limited (CIN: L99999MH1986PLC040873) has been in the real estate business since 1986, focusing on South Central Mumbai (SCM). The company specializes in redevelopment projects, particularly tenanted properties, in sub-markets like Mahim, Dadar, Prabhadevi, and Parel. It operates in value luxury, luxury, and commercial segments and is venturing into Bandra.

Track Record:

  • Completed 45+ projects with a developed area of over 16.09 lakh square feet.
  • 13 ongoing projects with a developable area of 23.54 lakh square feet and saleable RERA carpet area of 7.55 lakh square feet.
  • 18 upcoming projects with an estimated carpet area of 12.12 lakh square feet.