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Suraj Estate Developers Reports Q1FY27 Revenue Growth, Strong Sales Momentum

Suraj Estate Developers announced a 10% year-on-year rise in total income to ₹146 crore for the first quarter of FY27, with sales value surging 74% to ₹141 crore. The company highlighted a ₹1,600 crore launch pipeline and a new Dadar West acquisition, while net debt rose to ₹614 crore.

By Tertius News AI Desk 2 distinct · 2 mastheads · 2 articles Version 1 Coverage Aug 19–24, 2026 Published 6d ago

Q1FY27 Results Show Revenue Uptick and Robust Sales Surge

Suraj Estate Developers Limited, a Mumbai-based real estate firm focusing on redevelopment projects in South-Central Mumbai, reported its unaudited financial results for the quarter ended June 2026. Total income increased by 10% year-on-year to ₹146 crore, up from ₹133 crore in the same period last year, according to the company's earnings call transcript. EBITDA grew by 9% to ₹55 crore from ₹50 crore, with a margin of approximately 5%. Profit after tax rose by 7% to ₹23 crore from ₹21 crore.

Consolidated figures for the quarter showed a net profit of 9 crore, up 5% from 3 crore in Q1FY26. Revenue from operations stood at 7 crore, a 2% increase from 5 crore. Finance costs increased to 4 crore from 7 crore, while depreciation remained flat at 1 crore, and tax expense rose to 5 crore from 2 crore.

Sales Momentum and Operational Highlights

The company reported a 74% surge in sales value to ₹141 crore for the quarter, with sales area climbing 74% to 28,834 square feet from 16,524 square feet in the year-ago period. Collections, however, declined to ₹86 crore from ₹115 crore.

Two key operational developments accompanied the sales figures. Suraj Estate acquired a land parcel in Dadar West at a total cost of ₹18 crore, with a development potential of 18,000 square feet and an estimated GDV of around ₹100 crore, strengthening its near-to-medium-term pipeline in its core market. The company's commercial development, Suraj One Business Bay, in Mahim, has seen about 33% of its inventory sold since launch. According to the earnings call, management targets selling an additional 1 lakh square feet in this project during the year, with overall pre-sales guidance for the portfolio set at ₹700 crore.

Launch Pipeline and Future Projects

Management outlined a launch pipeline of approximately ₹1,600 crore for the full fiscal year FY27. This includes a pipeline of ₹240 crore in Q2, including Suraj Nova in Mahim with an estimated top line of ₹180 crore; ₹800–₹880 crore in Q3, featuring Suraj One Business Bay Phase 2 (₹800 crore) and Shivteerth (Shivaji Park, ₹80 crore); and ₹480 crore in Q4 across three projects.

Balance Sheet and Debt Position

As of June 2026, net debt stood at ₹614 crore, with gross debt of 94 crore and cash and equivalents of 03 crore. Management attributed the debt levels to capital deployment for business development, strategic acquisitions, and project investments aimed at strengthening the pipeline in South-Central Mumbai. The company's unsold inventory stood at ₹950 crore, comprising ₹841 crore in commercial space 4 lakh sq ft) and ₹109 crore in residential units (22,000 sq ft).

Company Background and Outlook

The company has been involved in real estate since 1986, completing over 45 projects with a developed area exceeding 09 lakh square feet in the South-Central Mumbai region. It has 13 ongoing projects with a developable area of 54 lakh sq ft and a saleable RERA carpet area of 57 lakh sq ft, and 18 upcoming projects with estimated carpet area of 46 lakh sq ft. The company focuses primarily on value luxury, luxury segments, and commercial segments, and is now venturing into residential real estate development in the Bandra sub-market.

Commenting on the performance, Mr. Rahul Thomas, Whole-time Director, said that Q1FY27 marked a quarter of healthy operational progress, supported by resilient customer demand and continued momentum across its core South-Central Mumbai markets. He noted healthy growth in sales value and sales area, reflecting robust absorption across residential and commercial portfolios.

Compliance and Outlook

The results were disclosed pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and were signed by Company Secretary and Compliance Officer Mukesh Kumar Gupta. The Company did not declare a dividend for the quarter.

Looking ahead, the company expects to sustain its momentum, particularly with its launch pipeline and new acquisition positioning in Dadar West. The Bandra sub-market remains a new venture for the firm, with two balance conveyances pending and estimated premiums between ₹300 crore and ₹350 crore for the entire parcel as part of its redevelopment projects.

How each outlet told it

A framing line is our reading of that outlet's own text — an interpretation, not a quotation and not a fact we assert. Check it against what the outlet published.

scanx.trade

Framing: Analytical and measured, as seen in the 'What the Numbers Show' section discussing margin compression and investor monitoring.

as of Aug 24, 2026, 4:17 PM UTC

Facts Included:

Q1FY27 total income ₹146 crore, up 10% YoY from ₹133 crore
EBITDA ₹55 crore, up 9% from ₹50 crore, margin ~37.5%
PAT ₹23 crore, up 7% from ₹21 crore
Sales value surged 74% to ₹141 crore, sales area 28,834 sq ft from 16,524 sq ft
Collections declined to ₹86 crore from ₹115 crore
Net debt ₹614 crore (gross debt ₹646.94 crore, cash ₹33.03 crore)
Launch pipeline ₹1,600 crore for FY27 with quarterly breakdown
Suraj One Business Bay sold 33% of inventory post-launch
Dadar West land parcel acquired for ₹18 crore with GDV ₹100 crore
Bandra redevelopment: two conveyances pending, premiums ₹300–350 crore
Unsold inventory ₹950 crore: ₹841 crore commercial, ₹109 crore residential
Consolidated net profit ₹22.9 crore, up 7.5% from ₹21.3 crore
Revenue from operations ₹144.7 crore, up 9.2%
Finance costs ₹22.4 crore vs ₹20.7 crore
Depreciation flat at ₹1.1 crore
Tax expense ₹8.5 crore vs ₹7.2 crore
Rahul Thomas comment on healthy operational progress
No dividend declared
SEBI Regulation 30(2) compliance, signed by Mukesh Kumar Gupta

Read the source article →

The Tribune

Framing: Promotional and positive, using phrases like 'strong football' and 'healthy customer demand'.

as of Aug 19, 2026, 7:48 PM UTC

Facts Included:

Q1FY27 sales value ₹141 crore, up 74% YoY
Sales area 28,834 sq ft, up 74% YoY
Collections ₹86 crore
Dadar West land acquisition for ₹18 crore, GDV ₹100 crore
Suraj One Business Bay sold 33% of inventory post-launch
Rahul Thomas quote on operational progress and demand
Company's history: involved since 1986, 45+ projects, 16.09 lakh sq ft developed area
13 ongoing projects, 23.54 lakh sq ft developable area, 7.57 lakh sq ft saleable RERA area
18 upcoming projects with 13.46 lakh sq ft carpet area
Focus on redevelopment and South-Central Mumbai markets
Mention of Bandra sub-market venturing
Safe Harbor statement
Advertorial disclaimer indicating syndicated press release

Read the source article →

What was claimed, and who backed it

AI-extracted; can misattribute a claim — see Methodology.

Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status is Contested when two claims on this page negate each other; otherwise it counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.

Claim	Confidence	Status
ClaimSuraj Estate Developers' total income for Q1FY27 was ₹146 crore, up 10% year-on-year from ₹133 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' EBITDA for Q1FY27 was ₹55 crore, up 9% from ₹50 crore in Q1FY26, with a margin of approximately 37.5%.	ConfidenceMedium	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' profit after tax (PAT) for Q1FY27 was ₹23 crore, up 7% from ₹21 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers achieved sales value of ₹141 crore in Q1FY27, a 74% year-on-year increase from ₹81 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC, The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimSuraj Estate Developers' sales area in Q1FY27 was 28,834 square feet, up 74% year-on-year from 16,524 square feet in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC, The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimSuraj Estate Developers' collections in Q1FY27 declined to ₹86 crore from ₹115 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC, The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimAs of June 2026, Suraj Estate Developers had net debt of ₹614 crore, with gross debt of ₹646.94 crore and cash and equivalents of ₹33.03 crore.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers has a launch pipeline of approximately ₹1,600 crore for FY27, including ₹240 crore in Q2, ₹800–₹880 crore in Q3, and ₹480 crore in Q4.	ConfidenceMedium	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj One Business Bay, a commercial development in Mahim, sold approximately 33% of its inventory post-launch.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC, The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimSuraj Estate Developers acquired a land parcel in Dadar West for ₹18 crore, with a development potential of 18,000 square feet and an estimated GDV of ₹100 crore.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC, The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimFor the Bandra redevelopment project, two balance conveyances are pending, and estimated premiums range between ₹300 crore and ₹350 crore for the entire parcel.	ConfidenceHigh	StatusSingle-source via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' unsold inventory stood at ₹950 crore, comprising ₹841 crore in commercial space (1.4 lakh sq ft) and ₹109 crore in residential units (22,000 sq ft).	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers reported a consolidated net profit of ₹22.9 crore for Q1FY27, up 7.5% from ₹21.3 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' revenue from operations for Q1FY27 was ₹144.7 crore, up 9.2% year-on-year from ₹132.5 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' finance costs for Q1FY27 increased to ₹22.4 crore from ₹20.7 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' depreciation remained flat at ₹1.1 crore in Q1FY27 compared to Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers' tax expense for Q1FY27 was ₹8.5 crore, compared to ₹7.2 crore in Q1FY26.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimRahul Thomas, Whole-time Director of Suraj Estate Developers, said Q1FY27 marked a quarter of healthy operational progress, supported by resilient customer demand and continued momentum across its core South-Central Mumbai markets.	ConfidenceHigh	StatusMulti-source (2 outlets · 2 distinct) via The Tribune as of Aug 19, 2026, 7:48 PM UTC, scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers did not declare a dividend for Q1FY27.	ConfidenceHigh	StatusSingle-source via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimThe disclosure of Q1FY27 results was made pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and signed by Company Secretary and Compliance Officer Mukesh Kumar Gupta.	ConfidenceHigh	StatusSingle-source via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers has been involved in the real estate business since 1986 and has completed over 45 projects with a developed area exceeding 16.09 lakh square feet in the South-Central Mumbai region.	ConfidenceHigh	StatusContested via The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimSuraj Estate Developers has 13 ongoing projects with a developable area of 23.54 lakh square feet and a saleable RERA carpet area of 7.57 lakh square feet, and 18 upcoming projects with an estimated carpet area of 13.46 lakh square feet.	ConfidenceHigh	StatusContested via The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimSuraj Estate Developers is focused primarily on value luxury, luxury segments, and commercial segments, and is now venturing into residential real estate development in the Bandra sub-market.	ConfidenceHigh	StatusSingle-source via The Tribune as of Aug 19, 2026, 7:48 PM UTC
ClaimManagement attributed the debt levels to capital deployment for business development, strategic acquisitions, and project investments aimed at strengthening the pipeline in South-Central Mumbai.	ConfidenceHigh	StatusSingle-source via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj One Business Bay is a commercial development in Mahim spread across a 3,000 sq m land parcel with a saleable area of 2.09 lakh sq ft and an estimated GDV of approximately ₹1,200 crore.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimSuraj Estate Developers targets selling an additional 1 lakh square feet in Suraj One Business Bay during the year.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC
ClaimOverall presales guidance for Suraj Estate Developers' portfolio is set at ₹700 crore.	ConfidenceHigh	StatusContested via scanx.trade as of Aug 24, 2026, 4:17 PM UTC

Transparency & Audit Trail

2 distinct · 2 mastheads · 2 articles consulted: scanx.trade, The Tribune 27 claims extracted 1 editorial revision Version 1 Written 2026-08-24