Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 86.0 | −32.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 34.0 | +7.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 21.0 | −12.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 9.70 | −4.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -10.34 | +45.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 4.02 | −32.0 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
1 of 4 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Pre-sales Value | Reach our pre-sales of Rs. 600 crores for this year. | Q2 FY26 | Target period FY26 has passed. Promise was achieved. | Achieved |
| Net Debt | Close to Rs. 500 crores we feel it should be there. | Q4 FY25 | Net debt increased to 613.91 cr, further breaching the original ~500 cr peak guidance. | Missed |
| EBITDA Margin | 40%-45% EBITDA margin is sustainable annually. | Q4 FY25 | Q1 FY27 margin at 37.5%, within the newly revised guidance of 35-37%. The original 40-45% target remains unachieved for FY27. | Diluted |
3 of Suraj Estate Developers Limited's 15 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹273.9 on 24 Oct 2025 → ₹176.96. High ₹302.05 (28 Oct 2025), low ₹168.69 (16 Sept 2026).
Overview
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
1 of 4 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Pre-sales Value | Reach our pre-sales of Rs. 600 crores for this year. | Q2 FY26 | Target period FY26 has passed. Promise was achieved. | Achieved |
| Net Debt | Close to Rs. 500 crores we feel it should be there. | Q4 FY25 | Net debt increased to 613.91 cr, further breaching the original ~500 cr peak guidance. | Missed |
| EBITDA Margin | 40%-45% EBITDA margin is sustainable annually. | Q4 FY25 | Q1 FY27 margin at 37.5%, within the newly revised guidance of 35-37%. The original 40-45% target remains unachieved for FY27. | Diluted |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 15 tracked commitments, with each call’s wording and source.
Call summaries
Suraj Estate Developers Limited Q1 FY27
Suraj Estate Developers Limited reported a strong Q1 FY27 with a 10% YoY increase in total income and EBITDA, and a significant 74% surge in sales value. The company expanded its land bank with a new acquisition in Dadar West and outlined a robust INR1,600 crores launch pipeline for FY27. However, collections saw a 25.2% YoY decline, and net debt increased, which management attributed to growth investments.
Read the full callSuraj Estate Q4 FY26
Suraj Estate Developers reported strong operational performance in FY26, exceeding presales guidance with 23% YoY growth to INR615 crores. EBITDA margins improved, but PAT declined due to increased finance costs from strategic land acquisitions, including Hally Pacific and a new Mahim development right. The company continues to focus on commercial and value luxury segments, with a robust launch pipeline and a target to normalize debt levels in FY27.
Read the full callSuraj Estate Q3 FY26
Suraj Estate Developers reported a robust Q3 FY26, marked by substantial growth in sales value and area, largely driven by the successful launch of Suraj One Business Bay and strong demand in the Mumbai office market. The company maintained its FY26 presales guidance and highlighted a healthy net debt position. However, 9M FY26 EBITDA saw a slight dip, and a project delay for Palette was noted, alongside the unlikelihood of INR 50 crores in warrants converting.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: −12% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 104 | 142 | 130 | 127 | 141 | 87 | 49 | 86 |
| Expenses | 51 | 109 | 125 | 92 | 92 | 76 | 22 | 57 |
| Operating profit | 53 | 34 | 5 | 35 | 50 | 11 | 27 | 30 |
| Operating margin | 51.0% | 24.0% | 4.0% | 27.0% | 35.0% | 13.0% | 55.0% | 34.0% |
| Other income | 10 | 13 | 15 | 14 | 15 | 16 | 16 | 16 |
| Interest | 17 | 17 | 5 | 16 | 15 | 14 | 27 | 17 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 44 | 29 | 14 | 32 | 48 | 12 | 15 | 28 |
| Tax rate | 27.0% | 24.0% | 32.0% | 25.0% | 25.0% | 25.0% | 46.0% | 27.0% |
| Net profit | 32 | 22 | 10 | 24 | 36 | 9 | 8 | 21 |
| EPS (₹ per share) | 7.29 | 4.63 | 2 | 4.98 | 7.56 | 1.83 | 1.74 | 4.38 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 371 | 506 | 404 |
| Expenses | 213 | 364 | 282 |
| Operating profit | 158 | 143 | 123 |
| Other income | 15 | 46 | 61 |
| Interest | 73 | 54 | 72 |
| Depreciation | 2 | 4 | 4 |
| Profit before tax | 99 | 130 | 107 |
| Net profit | 72 | 96 | 77 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 17 | 17 | 22 | 24 | 23 | 24 |
| Reserves | 20 | 58 | 502 | 883 | 934 | 960 |
| Borrowings | 388 | 407 | 355 | 369 | 550 | 466 |
| Other liabilities | 140 | 283 | 296 | 344 | 481 | 275 |
| Total liabilities | 564 | 764 | 1,175 | 1,620 | 1,988 | 1,724 |
| Fixed assets | 5 | 4 | 27 | 27 | 35 | 25 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 30 | 31 | 37 | 53 | 16 | 123 |
| Other assets | 529 | 729 | 1,111 | 1,541 | 1,937 | 1,576 |
| Total assets | 564 | 764 | 1,175 | 1,620 | 1,988 | 1,724 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 43 | 53 | 101 | -155 | -275 | -23 |
| Cash from investing | 4 | -18 | -27 | -92 | 38 | -8 |
| Cash from financing | -47 | -34 | -65 | 240 | 243 | 28 |
| Net cash flow | 0 | 1 | 9 | -7 | 7 | -3 |
| Free cash flow | 40 | 52 | 99 | -175 | -278 | -26 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 148 | 124 | 94 | 85 | 34 | 94 |
| Inventory days | 1517 | — | — | — | — | 5304 |
| Days payable | 39 | — | — | — | — | 402 |
| Cash conversion cycle | 1626 | 124 | 94 | 85 | 34 | 4996 |
| Working capital days | 620 | 407 | 421 | 310 | 441 | 617 |
| Return on capital employed | 18.0% | 22.0% | 30.0% | 25.0% | 17.0% | 13.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 6.0% | 0.0% | 0.0% |
The businesses behind the company’s reported revenue.
REAL ESTATE contributes 100.0% of reported segment revenue.
Year ended 31 Mar 2025 · Consolidated
₹549.09 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| REAL ESTATE | 549.09 | 100.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Ownership
Promoters hold 69.80% as of Sept 2026; institutions added 0.81 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Suraj Estate Developers Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 57.11% | unchanged | |
| 8.12% | unchanged | |
| 3.14% | unchanged | |
| AIF | 1.44% | +0.20 pp |
| 1.30% | newly disclosed | |
| 0.92% | unchanged | |
| 0.36% | unchanged | |
| 0.16% | unchanged | |
| — | off the list | |
| — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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Write why you follow Suraj Estate Developers Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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