Suraj Estate Developers Unveils 'Suraj Aureva': A ₹120 Crore Luxury Tower in Mumbai's Prabhadevi
Suraj Estate Developers has announced the launch of 'Suraj Aureva,' a premium residential project in Prabhadevi, Mumbai, with an estimated Gross Development Value of ₹120.00 crore. The 21-storey tower offers 1, 2, and 3 BHK apartments with carpet areas ranging from 450 to 806 sq. ft., starting at ₹2.47 crore. The project features unobstructed views of the Siddhivinayak Temple, smart design elements, and a prime location with excellent connectivity. It aims to address the growing demand for premium compact homes in the area.
Suraj Estate Developers announced a 48.5% increase in profit after tax to ₹100.20 crore, with total income rising 33.1% to ₹553.20 crore. The company's profit margin improved to 18.3%. Looking ahead, Suraj Estate Developers plans to launch projects worth ₹2,000 crore in the next fiscal year, signaling confidence in the real estate market and its growth prospects.
Suraj Estate Developers' Q4 results show a 36% year-over-year revenue increase to ₹1,360.00 million, but profitability metrics declined. EBITDA fell to ₹301.00 million from ₹535.00 million, with EBITDA margin dropping to 22.05% from 53.29%. Net profit slightly decreased to ₹182.90 million from ₹193.00 million year-over-year. The contrasting trends of revenue growth and profitability decline present a complex picture for the company in the competitive real estate market.