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Earnings Call

Suraj Estate Developers Earnings Call: Key Takeaways

Suraj Estate achieved FY26 pre-sales of ₹615cr, marginally beating its ₹600cr guidance, but faced analyst scrutiny over rising debt levels and declining residential sales velocity as focus shifts to commercial projects.

Why this was an Alfa AlertPre-sales beat guidance by 2.5%, which is below the 10% materiality threshold for a filter event.
Highlights
Revenue growthFY26 income steady at ₹561cr; pre-sales grew 23% YoY to ₹615cr.
MarginsEBITDA margins improved to 39.7% in FY26 from 37.4% YoY.
Order bookOngoing projects have ₹2,105cr in receivables from sold and unsold inventory.
Demand visibilityStrong institutional demand for commercial; residential demand focus on luxury niche.
Management confidenceConfident but defensive regarding rising debt levels and guidance delays.

Growth

FY26 pre-sales grew 23% YoY; sales area up 42% to 1.31 lakh sq ft, though average realizations dipped due to product mix.

Outlook

Launch pipeline for FY27 estimated at ₹1,400cr GDV, including residential and commercial projects; targeting debt levels around ₹600-650cr.

Risks

Net debt rose to ₹579.9cr following aggressive land acquisitions; residential pre-sales slowed significantly in Q4 to ₹28cr.

Source

Earnings Call filed with BSE, NSE: SURAJEST. Summary written with AI assistance from the document.

Read the document ↗

Suraj Estate Developers Ltd: key numbers

Share price
₹188.92
Market cap
₹902.5 Cr
Revenue (annual)
₹555.9 Cr
Net profit (annual)
₹90.28 Cr
P/E (TTM)
11.0×Sector 38.0×
Promoter holding
69.80%+0.00% QoQ
FII holding
2.14%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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