Suraj Estate Eyes ₹2,000 Crore Launch Pipeline, Reports Strong Q2 Performance
Suraj Estate Developers Limited has revealed plans for a ₹2,000 crore launch pipeline by FY26, including new projects in South Mumbai, entry into commercial real estate in Mahim, and land acquisition in Lower Parel. The company reported robust Q2FY26 results with pre-sales value up 88.80% quarter-on-quarter to ₹152.90 crore, and carpet area sold increasing 111.10% to 34,875 sq ft. Total income rose 9.20% to ₹145.40 crore, while PAT grew 55.50% to ₹33.10 crore. The company's projects, including Suraj Aureva and Parkview, show strong sales progress. A commercial project in Mahim has received key approvals, with launch planned for November 2025.
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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:
| Particulars | Q2FY26 | Q1FY26 | Q-o-Q Change |
|---|---|---|---|
| Pre-Sales Value | ₹152.90 crore | ₹81.00 crore | 88.80% |
| Carpet Area Sold | 34,875 sq ft | 16,524 sq ft | 111.10% |
| Total Income | ₹145.40 crore | ₹133.10 crore | 9.20% |
| EBITDA | ₹65.60 crore | ₹50.30 crore | 30.40% |
| PAT | ₹33.10 crore | ₹21.30 crore | 55.50% |
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.
Historical Stock Returns for Suraj Estate Developers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.84% | +3.78% | +0.32% | -7.08% | -59.02% | -16.61% |
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