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Suraj Estate Developers reported a 7.4% year-on-year increase in consolidated profit after tax (PAT) to INR 22.85 crore for the quarter ended June 30, 2026. Consolidated total income rose 9.8% to INR 146.23 crore, while EBITDA increased 9% to INR 54.8 crore. The Mumbai-focused developer recorded a 74% rise in sales value to INR 141 crore and a similar increase in sales area to 28,834 sq ft. During the quarter, the company also acquired a Dadar West land parcel for about INR 18 crore, with an estimated gross development value of INR 100 crore.
Suraj Estate Developers has reported a 7.4% year-on-year increase in consolidated net profit to INR 22.85 crore for the first quarter of FY27, supported by stronger sales momentum across its residential and commercial portfolio in South-Central Mumbai.
The company had recorded a consolidated PAT of INR 21.28 crore in the corresponding quarter of FY26. Its consolidated total income, including other income, increased by around 10% to INR 146.23 crore from INR 133.13 crore a year earlier. EBITDA also rose 9% year-on-year to INR 54.8 crore, although the EBITDA margin moderated marginally to 37.5% from 37.8%.
Operational performance was notably stronger during the quarter. Sales value increased 74% year-on-year to INR 141 crore, compared with INR 81 crore in Q1 FY26. Sales area also expanded 74% to 28,834 sq ft from 16,524 sq ft in the year-ago period, indicating higher absorption across the company’s portfolio.
Collections, however, declined to INR 86 crore during the quarter from INR 115 crore in Q1 FY26. The company attributed the quarter’s overall performance to sustained customer demand and continued execution across its projects.
Suraj Estate Developers is primarily focused on redevelopment-led real estate projects in South-Central Mumbai, with an established presence across areas including Dadar, Prabhadevi, Mahim and Parel. The company operates mainly in the value-luxury, luxury and commercial segments and has also been expanding its development pipeline.
As part of this expansion, the developer acquired a land parcel in Dadar West during Q1 FY27 for a total cost of approximately INR 18 crore. The parcel has a development potential of around 18,000 sq ft and an estimated gross development value (GDV) of approximately INR 100 crore. The acquisition is expected to add to the company’s near- to medium-term project pipeline.
The company’s commercial portfolio also recorded traction during the quarter. Suraj One Business Bay, its commercial development, had sold around 33% of its inventory since launch, according to the company’s investor release. The performance indicates continued demand for its commercial offering alongside its residential developments.
Suraj Estate Developers has completed more than 45 projects covering over 16.09 lakh sq ft in South-Central Mumbai. Its current pipeline includes 13 ongoing projects with a developable area of 23.54 lakh sq ft and 18 upcoming projects with an estimated carpet area of 13.46 lakh sq ft.
The company is also preparing to expand its residential presence into the Bandra sub-market, while continuing to focus on redevelopment opportunities within its established Mumbai markets.
For the remainder of FY27, the developer said it will focus on progressing ongoing projects, driving sales and collections and advancing its upcoming project pipeline. It also plans to selectively add new development opportunities across its core markets.
The Q1 performance therefore reflects a combination of higher sales absorption, continued project execution and expansion of the development pipeline, even as collections remained below the level recorded in the corresponding quarter last year.
Source- NSE
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