Suraj Estate Developers Reports 32.6% Revenue Growth in Q2, Sets Rs 600 Crore Pre-Sales Target for FY26
Suraj Estate Developers, a prominent player in the South and Central Mumbai real estate market, has reported strong financial results for the second quarter of fiscal year 2026, demonstrating robust growth and strategic expansion in the luxury and value luxury segments.
The company's total income for Q2 FY26 grew by 32.6% year-on-year to Rs 145.40 crores, up from Rs 109.60 crores in the same quarter last year. EBITDA increased to Rs 65.60 crores, while Profit After Tax (PAT) rose to Rs 33.10 crores.
Suraj Estate witnessed a significant surge in pre-sales, which grew by 88.8% quarter-on-quarter to Rs 152.90 crores. This growth was primarily driven by the successful launches of two key residential projects:
1. Suraj Aureva at Prabhadevi : A 21-storey value luxury tower offering 1, 2, and 3 BHK homes with a saleable area of 0.24 lakh square feet and an estimated Gross Development Value (GDV) of Rs 120.00 crores. The project achieved 39% sales at launch. 2. Suraj Park View at Dadar West : An upscale value luxury tower with a saleable area of 0.53 lakh square feet and an estimated GDV of Rs 250.00 crores. This project secured 42% sales during its launch.
The company has acquired a 644 square metre land parcel at Lower Parel for Rs 6.44 crores. This acquisition will be merged with an adjacent existing project, creating a combined land area of 1,310 square metres with a saleable area of 0.32 lakh square feet and an estimated GDV of Rs 130.00 crores.
As of September 2025, Suraj Estate's gross debt stood at Rs 545.80 crores, up from Rs 456.30 crores in March 2025. The increase is primarily attributed to construction and approval costs for new projects.
Suraj Estate Developers has set a pre-sales target of Rs 600.00 crores for FY26. The company plans to launch five new projects in the second half of FY26, including:
1. Mahim Commercial Project : Expected to launch in November 2025 after RERA registration, with a GDV of Rs 1,200.00 crores. 2. Gudekar House (F.P. 280) : Planned for H2 FY26 with a top line of Rs 150.00 crores. 3. Ambavat Bhawan in Lower Parel : Scheduled for launch in H2 FY26. 4. Lobo Villa in Mahim : Set for H2 FY26 launch with a top line of Rs 180.00 crores. 5. A project in Shivaji Park : Planned for H2 FY26 with a top line of Rs 80.00 crores.
The company maintains a project pipeline of 13.66 lakh square feet across 17 projects in South and Central Mumbai, with a combined visibility of Rs 1,166.00 crores.
Rahul Thomas, Whole-time Director of Suraj Estate Developers, commented on the results during the earnings conference call, stating, 'We are pleased to report a strong quarter, supported by solid operational performance and the successful launch of two key residential projects. These launches have been instrumental in driving pre-sales traction and reinforcing our leadership in the South Central Mumbai market.'
Suraj Estate Developers continues to focus on the value luxury segment, which has shown strong demand. The company's strategy of deepening its presence in premium redevelopment markets and its upcoming commercial project in Mahim are expected to be key growth drivers in the coming quarters.
As the Mumbai real estate market presents significant growth opportunities, particularly in the redevelopment sector, Suraj Estate Developers appears well-positioned to capitalize on the strong demand for high-quality residential and commercial assets in one of India's most premium real estate markets.
