Suraj Estate Developers Limited has reported robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth in pre-sales and improved profitability.

Key Highlights

• Pre-sales value surged by 89% quarter-on-quarter (QoQ) to ₹153.00 crore
• Carpet area sold increased by 111% QoQ to 34,875 sq. ft.
• Total income rose by 9.2% QoQ to ₹145.40 crore
• EBITDA grew by 30.4% QoQ to ₹65.60 crore
• EBITDA margin improved from 37.7% to 45.1%
• PAT margin enhanced from 16.0% to 22.8%

Strong Sales Momentum in New Projects

Suraj Estate Developers witnessed strong demand for its newly launched projects:

1. Suraj Aureva (Prabhadevi):

   • Total saleable area: 0.24 lakh sq.ft.
   • Estimated GDV: ₹120.00 crore
   • 39% of inventory sold

2. Suraj Parkview 1 (Dadar West):

   • Total saleable area: 0.53 lakh sq.ft.
   • Estimated GDV: ₹250.00 crore
   • 42% of inventory sold

Expansion and Strategic Moves

The company has made significant progress in its expansion plans:

• Obtained building plan approval and MOEF approval for the proposed commercial project at Mahim (West)
• Advanced stages of receiving the Commencement Certificate (CC) for the Mahim project
• Acquired an adjoining land parcel to expand the 'Ambavat Bhavan & RK Mansion' project in Lower Parel
  • Total saleable carpet area now stands at 0.32 lakh sq.ft.
  • Combined GDV of approximately ₹130.00 crore

Financial Performance

The company's financial performance shows a strong improvement in profitability, with EBITDA margin expanding by 740 basis points and PAT margin increasing by 680 basis points quarter-on-quarter.

Management Commentary

Mr. Rahul Thomas, Whole Time Director of Suraj Estate Developers, commented on the Q2FY26 performance: "We delivered a robust performance for the quarter, marked by successful new launches and strong operational momentum, which reaffirms the strength of the Suraj brand in South-Central Mumbai. Our new projects Suraj Aureva at Prabhadevi and Suraj Parkview 1 at Dadar (W), both have received encouraging market response, resulting in 89% QoQ growth in pre-sales value to ₹153.00 crore and a 111% QoQ rise in sales area to 34,875 sq. ft."

He further added, "We remain firmly on track to achieve our FY26 launch target of ₹2,000.00 crore GDV, including ₹1,200.00 crore from our upcoming commercial project. With key approvals already in place for the commercial project, we are geared up for a high impact launch in November 2025."

Outlook

Suraj Estate Developers appears well-positioned for continued growth, with a strong project pipeline and strategic land acquisitions. The company's focus on the South-Central Mumbai region and its expertise in redevelopment projects are likely to be key drivers of future performance.

As the real estate market in Mumbai continues to show resilience, Suraj Estate Developers' ability to successfully launch and sell new projects indicates a positive outlook for the coming quarters.

Investors and market observers will be watching closely to see if the company can maintain its growth trajectory and successfully execute its planned commercial project launch in November 2025.

Suraj Estate Developers Limited , a prominent real estate developer focused on South-Central Mumbai, has unveiled ambitious growth plans while reporting robust financial results for the second quarter of fiscal year 2026.

Expansion Strategy

The company has announced a strategic expansion plan targeting a ₹2,000 crore launch pipeline by FY26. This growth strategy encompasses:

• New projects in South Mumbai
• Entry into commercial real estate in Mahim
• Land acquisition in Lower Parel
• Expanding gross development value (GDV) beyond ₹5,000 crore

Suraj Estate aims to achieve over 30% return on equity by FY26, signaling confidence in its growth trajectory.

Q2FY26 Financial Highlights

The company's financial performance for Q2FY26 demonstrates strong growth:

The company's pre-sales rose by 89% quarter-on-quarter to ₹152.90 crore, while the carpet area sold increased by 111% to 34,875 sq. ft. in Q2FY26. This growth was primarily driven by successful launches of Suraj Aureva and Parkview 1 projects.

Project Updates

Suraj Aureva (Prabhadevi)

• Total saleable area: 0.24 lakh sq.ft.
• Estimated GDV: ₹120 crore
• Inventory sold: 39%

Suraj Parkview (Dadar W)

• Saleable area: 0.53 lakh sq.ft.
• Estimated GDV: ₹250 crores
• Inventory sold: 42%

Commercial Project in Mahim (W)

• Building plan approval obtained
• MOEF approval received
• Commencement Certificate (CC) in advanced stages

Expansion in Lower Parel

• Acquired adjoining land parcel for 'Ambavat Bhavan & RK Mansion' project
• Total saleable carpet area expanded to 0.32 Lakh Sq Ft
• Combined GDV: Approximately ₹130 crore

Management Commentary

Mr. Rahul Thomas, Whole Time Director of Suraj Estate Developers, commented on the performance: "We delivered a robust performance for the quarter, marked by successful new launches and strong operational momentum, which reaffirms the strength of the Suraj brand in South-Central Mumbai."

He added, "We remain firmly on track to achieve our FY26 launch target of ₹2,000 crore GDV, including ₹1,200 crore from our upcoming commercial project. With key approvals already in place for the commercial project, we are geared up for a high impact launch in November 2025."

The company's performance this quarter reflects its strong execution focus, healthy sales momentum, and strategic portfolio expansion. Suraj Estate Developers appears well-positioned to capitalize on the growing demand in the South-Central Mumbai real estate market.