Suraj Estates delivers Robust Q2FY26 Performance

VMPL

Mumbai (Maharashtra) [India], October 29: Suraj Estate Developers Limited announced its unaudited financial results, for the quarter ending 30th Sept 2025.

Operational Highlights for Q2FY26

- Pre-sales rose 89% QoQ to Rs 153 crore, while carpet area sold increased 111% QoQ to 34,875 sq. ft. in Q2FY26, driven by successful launches of Suraj Aureva and Parkview 1

- Both projects witnessed strong demand, with over 40% of inventory sold during the quarter

Financial Highlights for Q2FY26

- Total income increased 9.2% QoQ to Rs 145 crore, while EBITDA grew 30.4% QoQ to Rs 65.6 crore in Q2FY26

- EBITDA margin increased from 37.7% to 45%, leading to an improvement in PAT margin from 16% to 23%, supported by operating leverage during the quarter

Business Updates

- Strong Sales Momentum across key residential project launched in Q2FY26

- Suraj Aureva (Prabhadevi), with a total saleable area of 0.24 lakh sq.ft. and an estimated GDV of Rs 120 crore, has achieved 39% of inventory sold.

- Suraj Parkview (Dadar W), comprising a saleable area of 0.53 lakh sq.ft. and an estimated GDV of Rs 250 crores, has recorded 42% inventory sold.

- Obtained building plan approval and MOEF approval for the proposed commercial project at Mahim (W). The said project is in advanced stages of receiving the Commencement Certificate (CC) and is expected to be launched shortly.

- Acquired adjoining land parcel and have expanded our project 'Ambavat Bhavan & RK Mansion' located at Lower Parel, a sought-after micro market in South-Central Mumbai region. The total saleable carpet area for the project now stands at 0.32 Lakh Sq Ft with a combined GDV of ~Rs 130 crore

Commenting on the performance for Q2 & H1FY26, Mr. Rahul Thomas, Whole Time Director, Suraj Estate Developers, said "We delivered a robust performance for the quarter, marked by successful new launches and strong operational momentum, which reaffirms the strength of the Suraj brand in South-Central Mumbai. Our new projects Suraj Aureva at Prabhadevi and Suraj Parkview 1 at Dadar (W), both have received encouraging market response, resulting in 89% QoQ growth in pre-sales value to Rs 153 crore and a 111% QoQ rise in sales area to 34,875 sq. ft. This performance underscores the sustained demand for our well-located, high-quality with design-oriented projects.

Both Suraj Aureva and Suraj Parkview 1 achieved an impressive ~40% inventory sales within the launch phase, reflecting home buyers' trust in our offerings and execution capability. We also strengthened our footprint in Lower Parel with the strategic acquisition of an adjoining parcel for the 'Ambavat Bhavan & RK Mansion' project, expanding the saleable area to 0.32 lakh sq. ft. and a combined GDV of ~Rs 130 crore.

We remain firmly on track to achieve our FY26 launch target of Rs 2,000 crore GDV, including Rs 1,200 crore from our upcoming commercial project. With key approvals already in place for the commercial project, we are geared up for a high impact launch in November 2025.

Our performance this quarter reflects Company's strong execution focus, healthy sales momentum, and strategic portfolio expansion. We are confident of sustaining this growth trajectory and creating long-term value for all stakeholders."

About Suraj Estate Developers Limited

Suraj Estate Developers (BSE: 544054 | NSE: SURAJEST) has been involved in the real estate business since 1986, and the Company develop real estate across the residential and commercial sectors in South Central Mumbai region. The company has a residential portfolio located in the markets of Mahim, Dadar, Prabhadevi and Parel, which are sub-markets of the South-Central Mumbai micro-market where the Company have established their presence. The company is focused primarily on value luxury, luxury segments and commercial segments. The company is now venturing into residential real estate development in Bandra sub-market. The focus area of operation is the South-Central region in Mumbai mainly consisting of Mahim, Matunga, Dadar, Prabhadevi and Parel, as their expertise lies in the redevelopment of tenanted properties. Since most of the land parcels in the South-Central Mumbai market are redevelopment projects, the company's core competence lies in tenant settlement which is a key element for unlocking value of such land parcels. Suraj Estate Developers identify properties having cessed/ non-cessed structures with existing tenants and tie up with the landlords of such tenanted properties by entering into development agreement or on outright purchase basis through conveyance deed.

Since incorporation, Suraj Estate Developers have completed 45 projects with a developed area of more than 16 lakh square feet in the South-Central Mumbai region. In addition to the completed Projects, the company has 12 ongoing projects with saleable RERA carpet area 5.46 lakh square feet and 17 upcoming Projects with an estimated carpet area of 13.66 lakh square feet.

*T&C applied.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results, accordingly, investor's discretion is discretion is advised with respect hereto. Certain statements in this release contain words or phrases that are forward looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Actual results may differ materially from those anticipated in the forward-looking statements. HFL assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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