Suraj Estate Developers Reports 33% Revenue Growth, 48% Jump in PAT

Mumbai, May 27, 2025: Suraj Estate Developers Ltd. reported strong operational and financial performance, driven by increased unit sales, higher price realisation and enhanced operational efficiency, in the fiscal year ended March 31.

Financial Highlights for FY25:

• Total income grew by 33.1 per cent YoY, reaching INR 553.2 crore, up INR 415.7 crore in FY24. This growth was primarily driven by increased unit sales, supported by strong brand recognition in the south-central Mumbai micro-market.
• Profit after tax increased significantly by 48.5 per cent YoY from Rs 67.5 crore in FY24 to INR 100.2 crore in FY25. The increase was attributed to better price realisation and savings in financial costs.
• PAT margin improved from 16.4 per cent to 18.3 per cent, reflecting a more efficient cost structure and value-accretive sales.

Operational Highlights for FY25:

• Pre-sales rose by 4 per cent YoY, reaching INR 501 crore in FY25 compared to INR 483 crore in FY24, a notable achievement despite no new launches during the year.
• Collections increased from Rs 316 crore in FY24 to Rs 386 crore in FY25, a rise of 22 per cent YoY.
• Price realisation improved to INR 54,353 per sq ft in FY25, up INR 45,074 per sq ft in FY24, owing to a higher contribution from luxury projects in the overall sales mix.

Outlook:

Looking ahead to FY26, the company plans to launch residential and commercial projects with a gross development value (GDV) of approximately INR 2,000 crore, which is expected to significantly boost growth prospects.

“FY25 was a remarkable year for us. While the strategic reconfiguration and consolidation of selected land parcels led to delays in project launches, these steps have significantly enhanced the efficiency and long-term value of our project layouts,” said Rahul Thomas, Whole-time Director, Suraj Estate Developers.

“We saw strong, broad-based momentum across our portfolio—spanning luxury, value-luxury and commercial segments. We are optimistic that the deferred commercial project, along with a few residential projects, delayed due to regulatory, approval will be launched in H1FY26.”

The company raised INR 343 crore, which was fully utilised towards acquiring commercial land, working capital and paying for additional FSI.

“We recently acquired a 390 square meter land parcel at Shivaji Park for INR 4.75 crores where we plan to develop a luxury project with an estimated GDV of INR 80 crore offering scenic sea views alongside excellent metro connectivity.”

Net debt rose from INR 360 crore in December 2024 to INR 414 crores in March 2025, driven by fund requirements for the launch of upcoming projects, including commercial projects at Mahim, ParkView-1, Kowliwadi & Kripasiddhi project, a project at Marinagar and land acquisition at Shivaji Park.

“As we look ahead to FY26, we are excited about a robust launch pipeline, including a marquee commercial development in Mahim and multiple value-luxury projects in Mahim and Dadar. Our deep expertise in redevelopment under DCPR 33(7) continues to reinforce our leadership position in the South-Central Mumbai market,” he added.

“With a calibrated strategy, a robust pipeline and supportive market fundamentals, we are well-positioned to drive sustained growth and deliver long-term value to all our stakeholders.”