Suraj Estate Developers Ltd
Incorporated in 1986, Suraj Estate Developers Limited is a real estate construction company that develops residential and commercial real estate in the South Central Mumbai region.[1]
- Market Cap ₹ 1,383 Cr.
 - Current Price ₹ 289
 - High / Low ₹ 731 / 263
 - Stock P/E 15.1
 - Book Value ₹ 202
 - Dividend Yield 0.00 %
 - ROCE 17.1 %
 - ROE 13.4 %
 - Face Value ₹ 5.00
 
Pros
- Company has delivered good profit growth of 151% CAGR over last 5 years
 - Debtor days have improved from 71.0 to 34.4 days.
 
Cons
- Earnings include an other income of Rs.57.8 Cr.
 
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 58 | 164 | 204 | 246 | 371 | 507 | 540 | |
| 12 | 96 | 116 | 109 | 213 | 363 | 417 | |
| Operating Profit | 46 | 68 | 88 | 137 | 158 | 143 | 123 | 
| OPM % | 79% | 42% | 43% | 56% | 43% | 28% | 23% | 
| 1 | 2 | 1 | 1 | 16 | 46 | 58 | |
| Interest | 45 | 59 | 67 | 85 | 73 | 54 | 53 | 
| Depreciation | 1 | 2 | 2 | 2 | 2 | 5 | 5 | 
| Profit before tax | 1 | 9 | 20 | 51 | 99 | 131 | 123 | 
| Tax % | 33% | 29% | 27% | 26% | 28% | 26% | |
| 1 | 6 | 15 | 38 | 71 | 96 | 92 | |
| EPS in Rs | 1.43 | 9.20 | 4.48 | 11.42 | 16.09 | 20.20 | 19.17 | 
| Dividend Payout % | 0% | 0% | 0% | 0% | 6% | 0% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 54% | 
| 3 Years: | 35% | 
| TTM: | 28% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 151% | 
| 3 Years: | 86% | 
| TTM: | -2% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | % | 
| 1 Year: | -58% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 20% | 
| 3 Years: | 19% | 
| Last Year: | 13% | 
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 17 | 17 | 22 | 24 | 24 | 
| Reserves | 9 | 15 | 20 | 58 | 502 | 883 | 943 | 
| 352 | 358 | 388 | 407 | 355 | 369 | 425 | |
| 116 | 111 | 140 | 283 | 296 | 344 | 420 | |
| Total Liabilities | 484 | 490 | 564 | 764 | 1,175 | 1,620 | 1,811 | 
| 5 | 5 | 5 | 4 | 27 | 27 | 25 | |
| CWIP | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 
| Investments | 8 | 12 | 30 | 31 | 37 | 53 | 83 | 
| 471 | 472 | 529 | 729 | 1,111 | 1,541 | 1,703 | |
| Total Assets | 484 | 490 | 564 | 764 | 1,175 | 1,620 | 1,811 | 
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -38 | 43 | 53 | 101 | -155 | -275 | |
| -7 | 4 | -18 | -27 | -92 | 38 | |
| 43 | -47 | -34 | -65 | 240 | 243 | |
| Net Cash Flow | -2 | -0 | 1 | 9 | -7 | 7 | 
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 190 | 148 | 124 | 94 | 85 | 34 | 
| Inventory Days | 1,517 | |||||
| Days Payable | 39 | |||||
| Cash Conversion Cycle | 190 | 1,626 | 124 | 94 | 85 | 34 | 
| Working Capital Days | 1,680 | 620 | 407 | 421 | 310 | 441 | 
| ROCE % | 18% | 22% | 30% | 25% | 17% | 
Documents
Announcements
- 
        
          Announcement under Regulation 30 (LODR)-Newspaper Publication
          
            4h - Copies of the newspaper advertisement regarding Notice of Postal Ballot & Remote E-voting to seek approval of the members of the company.
 - 
        
          Announcement under Regulation 30 (LODR)-Newspaper Publication
          
            4h - Copies of the newspaper advertisement of the Unaudited Financial Results for the quarter and Half Year ended September 30, 2025,
 - 
        
          Announcement under Regulation 30 (LODR)-Earnings Call Transcript
          
            18h - Q2/H1 FY26 earnings call; H1 income Rs278.6cr; launched Suraj Aureva and Park View; Mahim GDV Rs1,200cr.
 - Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 22h
 - 
        
          Intimation Of Incorporation Of Wholly Owned Subsidiary Company
          
            24h - Incorporated wholly-owned subsidiary Avle Estates Pvt Ltd on Nov 03, 2025; authorised/paid-up Rs100,000; yet to commence business.
 
Concalls
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      Nov 2025Transcript PPT REC
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      Aug 2025Transcript PPT
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      Jun 2025Transcript PPT
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      Feb 2025Transcript PPT
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      Nov 2024Transcript PPT
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      Aug 2024Transcript PPT
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      May 2024Transcript PPT
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      Feb 2024TranscriptNotesPPT
 
Leadership in Redevelopment of Properties[1]
The company specializes in redevelopment projects, holding a 61% share in SCM's redevelopment market. It has expertise in settling tenants, with over 1,011 homes redeveloped free of cost. It has launched 263 projects in SCM sub-markets, with 160 projects categorized as redevelopment.[2]
Market Leadership in South Centeral Mumbai[2]
No.1 in Market Absorption (Units): Suraj accounts for 16% of the total unit absorption among the top 10 developers in SCM.
No.1 in Market Absorption (Value): SEDL contributes 15% of the total value absorption in the same market.