Suraj Estate Developers Q1 sales up 74%, adds Dadar land parcel

Synopsis

Suraj Estate Developers saw sales value rise seventy-four percent year-on-year. Sales area also increased seventy-four percent, showing strong market absorption. The company's total income grew ten percent while operating profit saw a nine percent increase. Profit after tax climbed seven percent, reflecting steady financial performance.

Mumbai: Realty developer Suraj Estate Developers has reported a 74% year-on-year rise in sales value at Rs 141 crore for the quarter ended June. Sales area also increased 74% to 28,834 sq ft from 16,524 sq ft, indicating higher absorption across its residential and commercial portfolio.

The company’s consolidated total income, including other income, increased 10% year-on-year to Rs 146 crore from Rs 133 crore. Operating profit rose 9% to Rs 55 crore, while operating margin was broadly stable at 37.5% against 37.8% in the year-ago period.

Profit after tax increased 7% to Rs 23 crore from Rs 21 crore, while PAT margin stood at 15.6%, compared with 16% in Q1FY26. Collections, however, declined 25% to Rs 86 crore during the quarter from Rs 115 crore a year ago.

“Q1 FY27 marked a quarter of healthy operational progress for the company, supported by resilient customer demand and continued momentum across its core South-Central Mumbai markets,” said Rahul Thomas, whole-time director, Suraj Estate Developers.

According to him, the company would focus on advancing ongoing projects, driving sales and collections and progressing its upcoming project pipeline, while selectively adding new development opportunities across its core markets.

During the quarter, the company acquired a land parcel in Dadar West for about Rs 18 crore. The parcel has an estimated development potential of around 0.18 lakh sq ft and an estimated gross development value of about Rs 100 crore.

The acquisition adds to the company’s near-to-medium-term development pipeline as it continues to focus on redevelopment opportunities in South-Central Mumbai.

Suraj Estate Developers is focused on residential and commercial redevelopment projects in South-Central Mumbai.