SURAJEST

Suraj Estate Developers financials

Market cap
₹939 Cr
Sector
Realty
Calls analysed
6
Latest concall · Q1 FY27 · call held 17 Aug 2026

Suraj Estate Developers Limited Q1 FY27

EBITDA ₹55 cr +10%EBITDA Margin 37.5% PAT ₹23 cr +7%Total Income ₹146 cr +10%

What went well

  • Total income grew 10% YoY to INR146 crores in Q1 FY27, up from INR133 crores in Q1 FY26.
  • EBITDA increased 10% YoY to INR55 crores from INR50 crores, achieving a healthy margin of 37.5%.
  • PAT grew 7% YoY to INR23 crores in Q1 FY27, compared to INR21 crores in Q1 FY26.

What to watch

  • Collections declined 25.2% YoY to INR86 crores in Q1 FY27, down from INR115 crores in Q1 FY26.
  • Net debt increased to INR613.91 crores as of June 2026, primarily due to capital deployment for business development and acquisitions.
Read the full call →

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 1 delivered 3 missed 11 open
  • Pre-sales Value delivered said Q2 FY26 Promised: Reach our pre-sales of Rs. 600 crores for this year. Q1 FY27: Target period FY26 has passed. Promise was achieved.
  • Net Debt missed said Q4 FY25 Promised: Close to Rs. 500 crores we feel it should be there. Q1 FY27: Net debt increased to 613.91 cr, further breaching the original ~500 cr peak guidance.
  • EBITDA Margin diluted said Q4 FY25 Promised: 40%-45% EBITDA margin is sustainable annually. Q1 FY27: Q1 FY27 margin at 37.5%, within the newly revised guidance of 35-37%. The original 40-45% target remains unachieved for FY27.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 9.8%, net profit up 9.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue109 170 136 132 145 +33%180 +6%99 −27%145 +10%
EBITDA63 46 30 50 65 +3%54 +17%50 +67%53 +6%
Net profit32 20 18 21 33 +3%25 +25%11 −39%23 +10%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −41.1% 1Y

₹200₹250₹300Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 28 Oct 2025Q3 FY26 — 29 Jan 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 17 Aug 2026

1Y: ₹296.65 on 10 Sept 2025 → ₹174.59. High ₹302.05 (28 Oct 2025), low ₹169.91 (9 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−1.4%
17 Aug
Q4 FY26
−7.6%
1 Jun
Q3 FY26
−1.9%
29 Jan
Q2 FY26
+8.3%
28 Oct

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.

Financials, as filed

Revenue grew 16.3% a year over 2 years, FY24 to FY26. Operating margin narrowed to 39.4%.

Year endingFY24FY25FY26
Revenue₹411 Cr₹549 Cr₹556 Cr
Operating profit₹233 Cr₹202 Cr₹219 Cr
Operating margin56.7%36.8%39.4%
Interest₹139 Cr₹65 Cr₹93 Cr
Depreciation₹5 Cr₹5 Cr₹4 Cr
Net profit₹68 Cr₹100 Cr₹90 Cr
Net margin16.5%18.2%16.2%
Cash from operations₹9 Cr₹-306 Cr₹-54 Cr
Free cash flow₹-16 Cr₹-307 Cr₹-57 Cr
ROCE29.0%17.0%15.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹6 Cr₹16 Cr₹16 Cr₹21 Cr₹23 Cr₹23 Cr
Reserves₹23 Cr₹23 Cr₹56 Cr₹495 Cr₹934 Cr₹970 Cr
Borrowings₹600 Cr₹649 Cr₹593 Cr₹441 Cr₹550 Cr₹645 Cr
Other liabilities₹162 Cr₹175 Cr₹339 Cr₹333 Cr₹481 Cr₹323 Cr
Total liabilities₹792 Cr₹864 Cr₹1.0k Cr₹1.3k Cr₹2.0k Cr₹2.0k Cr
Fixed assets₹19 Cr₹18 Cr₹16 Cr₹38 Cr₹35 Cr₹66 Cr
Capital work in progress₹2 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹1 Cr₹0 Cr₹9 Cr₹1 Cr₹16 Cr₹4 Cr
Other assets₹770 Cr₹846 Cr₹980 Cr₹1.3k Cr₹1.9k Cr₹1.9k Cr
Total assets₹792 Cr₹864 Cr₹1.0k Cr₹1.3k Cr₹2.0k Cr₹2.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +1.11 pp while FIIs trimmed −0.87 pp. The shareholder count grew 6% to 38,247.

Promoters
69.8%
FIIs
1.3%
DIIs
1.0%
Public
27.9%

Since Jun 2025

  • Public +1.11 pp
  • FIIs −0.87 pp
  • DIIs −0.43 pp

How it drifted, 11 quarters

Over this window the public went from 13.9% to 27.9% — +14.0 pp.

Dec '23Mar '25Jun '26

Ownership split by quarter, oldest first. Dec '23: Promoters 75.0%, FIIs 7.1%, DIIs 4.0%, Public 13.9%.Mar '24: Promoters 75.0%, FIIs 5.7%, DIIs 3.1%, Public 16.3%.Jun '24: Promoters 75.0%, FIIs 2.5%, DIIs 1.4%, Public 21.1%.Sep '24: Promoters 75.0%, FIIs 3.1%, DIIs 2.5%, Public 19.4%.Dec '24: Promoters 69.6%, FIIs 1.9%, DIIs 2.5%, Public 26.0%.Mar '25: Promoters 69.6%, FIIs 2.3%, DIIs 2.0%, Public 26.1%.Jun '25: Promoters 69.6%, FIIs 2.2%, DIIs 1.4%, Public 26.8%.Sep '25: Promoters 69.6%, FIIs 1.7%, DIIs 0.9%, Public 27.8%.Dec '25: Promoters 69.6%, FIIs 1.8%, DIIs 1.0%, Public 27.6%.Mar '26: Promoters 69.8%, FIIs 2.2%, DIIs 1.1%, Public 26.9%.Jun '26: Promoters 69.8%, FIIs 1.3%, DIIs 1.0%, Public 27.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 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 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Suraj Estate Developers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rajan Thomas 57.11%unchanged
Sujatha Thomas 8.12%unchanged
Accord Estates Private Limited 3.14%unchanged
First Water Fund AIF1.24%+0.21 pp
Veena Amit Aidasani 1.16%unchanged
Amit Heman Aidasani 1.09%unchanged
Rahul Jesu Thomas 0.92%unchanged
Margarette Shwetha Thomas 0.36%unchanged
Elizabeth Lavanya Thomas 0.16%unchanged
Sonali Menon 0.00%unchanged
Iegfl - Multi Opportunity FPI fund—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.

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Suraj Estate Developers Limited

Guides on how to read this kind of business and the numbers that matter.