Suraj Estate Developers , a prominent player in the South and Central Mumbai real estate market, has reported strong financial results for the second quarter of fiscal year 2026, demonstrating robust growth and strategic expansion in the luxury and value luxury segments.

Financial Highlights

The company's total income for Q2 FY26 grew by 32.6% year-on-year to Rs 145.40 crores, up from Rs 109.60 crores in the same quarter last year. EBITDA increased to Rs 65.60 crores, while Profit After Tax (PAT) rose to Rs 33.10 crores.

Pre-Sales Growth and Project Launches

Suraj Estate witnessed a significant surge in pre-sales, which grew by 88.8% quarter-on-quarter to Rs 152.90 crores. This growth was primarily driven by the successful launches of two key residential projects:

1. Suraj Aureva at Prabhadevi: A 21-storey value luxury tower offering 1, 2, and 3 BHK homes with a saleable area of 0.24 lakh square feet and an estimated Gross Development Value (GDV) of Rs 120.00 crores. The project achieved 39% sales at launch.

2. Suraj Park View at Dadar West: An upscale value luxury tower with a saleable area of 0.53 lakh square feet and an estimated GDV of Rs 250.00 crores. This project secured 42% sales during its launch.

Strategic Land Acquisition

The company has acquired a 644 square metre land parcel at Lower Parel for Rs 6.44 crores. This acquisition will be merged with an adjacent existing project, creating a combined land area of 1,310 square metres with a saleable area of 0.32 lakh square feet and an estimated GDV of Rs 130.00 crores.

Debt Position

As of September 2025, Suraj Estate's gross debt stood at Rs 545.80 crores, up from Rs 456.30 crores in March 2025. The increase is primarily attributed to construction and approval costs for new projects.

Future Outlook

Suraj Estate Developers has set a pre-sales target of Rs 600.00 crores for FY26. The company plans to launch five new projects in the second half of FY26, including:

1. Mahim Commercial Project: Expected to launch in November 2025 after RERA registration, with a GDV of Rs 1,200.00 crores.
2. Gudekar House (F.P. 280): Planned for H2 FY26 with a top line of Rs 150.00 crores.
3. Ambavat Bhawan in Lower Parel: Scheduled for launch in H2 FY26.
4. Lobo Villa in Mahim: Set for H2 FY26 launch with a top line of Rs 180.00 crores.
5. A project in Shivaji Park: Planned for H2 FY26 with a top line of Rs 80.00 crores.

Project Pipeline

The company maintains a project pipeline of 13.66 lakh square feet across 17 projects in South and Central Mumbai, with a combined visibility of Rs 1,166.00 crores.

Management Commentary

Rahul Thomas, Whole-time Director of Suraj Estate Developers, commented on the results during the earnings conference call, stating, "We are pleased to report a strong quarter, supported by solid operational performance and the successful launch of two key residential projects. These launches have been instrumental in driving pre-sales traction and reinforcing our leadership in the South Central Mumbai market."

Suraj Estate Developers continues to focus on the value luxury segment, which has shown strong demand. The company's strategy of deepening its presence in premium redevelopment markets and its upcoming commercial project in Mahim are expected to be key growth drivers in the coming quarters.

As the Mumbai real estate market presents significant growth opportunities, particularly in the redevelopment sector, Suraj Estate Developers appears well-positioned to capitalize on the strong demand for high-quality residential and commercial assets in one of India's most premium real estate markets.

Suraj Estate Developers Limited , a prominent player in the Indian real estate sector, has announced a significant corporate governance move. The company has initiated a postal ballot process to appoint Dr. Ananta Singh Raghuvanshi as a Woman Independent Director, aligning with SEBI regulations for top 1000 listed companies.

Key Highlights of the Appointment

• Candidate Profile: Dr. Ananta Singh Raghuvanshi brings 34 years of real estate industry experience to the board.
• Qualifications: PhD in Management, MRICS qualification, and a TEDx speaker.
• Previous Roles: Executive positions at DLF, Emaar MGF, and Damac.
• Current Positions: Chairperson and Founder of NAREDCO Mahi, Independent Director at Share India Securities Limited.

Postal Ballot Details

Regulatory Compliance

The appointment is in line with SEBI's mandate requiring the top 1000 listed companies, based on market capitalization as of December 31, 2024, to have at least one woman independent director on their board.

Company's Expansion

In a separate development, Suraj Estate Developers has incorporated a wholly-owned subsidiary, Avle Estates Private Limited, on November 3, 2025. This new entity is set to operate in the real estate sector, mirroring the parent company's business focus.

Impact and Outlook

The appointment of Dr. Raghuvanshi and the formation of a new subsidiary signal Suraj Estate Developers' commitment to both regulatory compliance and strategic growth. These moves may potentially strengthen the company's corporate governance structure and expand its operational capabilities in the real estate market.

Shareholders will have the opportunity to vote on Dr. Raghuvanshi's appointment through the e-voting process. The outcome of this postal ballot will be closely watched by investors and industry observers alike, as it represents a significant step in the company's corporate governance journey.