Suraj Estate Developers Limited was originally incorporated as 'Suraj Estate Developers Private Limited' at Mumbai on September 10, 1986. The company engages in the real estate development business in India and is based in Mumbai. Subsequently, the company converted into a Public Limited Company on October 30, 2021, and its name was changed to 'Suraj Estate Developers Limited.'
Suraj Estate Developers Limited is a real estate construction company that develops residential and commercial real estate in the South Central Mumbai (SCM) region. The company has been involved in the real estate business since 1986, focusing on residential and commercial sectors. The company has a residential portfolio located in the sub-markets of Mahim, Dadar, Prabhadevi, and Parel, all within the South-Central Mumbai micro-market.
The company specializes in redevelopment projects, holding a significant 61% share in SCM's redevelopment market. It possesses extensive expertise in settling tenants, having redeveloped over 1,011 homes free of cost. Suraj Estate Developers has launched 263 projects in SCM sub-markets, with 160 of these categorized as redevelopment projects.
Suraj accounts for 16% of the total unit absorption among the top 10 developers in SCM and contributes 15% of the total value absorption in the same market. This solidifies the company's strong market leadership position in the South Central Mumbai region.
As of recent data, Suraj Estate Developers has a market capitalization of ₹1,655 crore, with revenue of ₹549 crore and profit of ₹100 crore. For the full year ended March 2025, net profit rose 48.39% to ₹100.16 crore compared to ₹67.50 crore in the previous year. Sales rose 33.21% to ₹549.09 crore in the year ended March 2025 against ₹412.21 crore in the previous year.
The company's quarterly performance has consistently shown strong growth trends:
* Q4 FY25: Net profit of ₹18.29 crore with sales of ₹136.48 crore, representing a 35.99% increase in sales year-over-year.
* Q3 FY25: Net profit rose 20.51% to ₹19.98 crore with sales of ₹169.85 crore, up 60.25% year-over-year.
* Q2 FY25: Net profit surged 87.68% to ₹31.83 crore with sales of ₹109.09 crore.
The company's pre-sales grew by 26% YoY in Q2 FY25 and by 13% in H1 FY25, despite a seasonally weak quarter. Realizations grew 10% YoY in Q2 FY25 and 12% YoY in H1 FY25 on account of price hikes and a better product mix.
* Market Capitalization: ₹1,655 crore
* FY2025 Revenue: ₹549.09 crore
* FY2025 Net Profit: ₹100.16 crore
* Promoter Holding: 69.60% (as of March 2025)
* Q4 FY25 Net Profit: ₹18.29 crore
* Q4 FY25 Sales: ₹136.48 crore
* Q3 FY25 Net Profit: ₹19.98 crore
* Q3 FY25 Sales: ₹169.85 crore
* Q2 FY25 Net Profit: ₹31.83 crore
* Q2 FY25 Sales: ₹109.09 crore
The company has a strong track record, having delivered 42 prestigious projects to date. Focused on high-end residential and commercial spaces, Suraj Estate Developers currently has 13 ongoing projects with a total developable area of over 20.3 lakh square feet. Additionally, the company has 18 upcoming projects, which are set to add approximately 9 lakh square feet of premium living and commercial space to its growing portfolio.
Recent project launches include Suraj Lumina at Veer Savarkar Marg, Mahim (West), Mumbai. This project comprises 35 units, including both 2BHK and 3BHK configurations, with a total saleable carpet area of 22,376 sq ft and an estimated gross development value of close to ₹100 crore.
Established in 1986, Suraj Estate Developers has built a formidable reputation for developing residential and commercial properties in South-Central Mumbai. The company is strategically expanding its presence into the Bandra sub-market. This expansion complements its 13 ongoing projects (totaling over 20 lakh sq ft developable area) and 18 upcoming projects (adding approximately 9 lakh sq ft to its portfolio).
In December 2024, the company made a significant land acquisition in Mumbai's Mahim area for ₹101 crore. This acquisition fulfills the objectives of funds raised through equity shares and share warrants amounting to ₹343 crore, further supporting its growth ambitions. The company reported a 14% increase in sales volume and a 10% rise in sales realization in the last quarter, indicating robust market demand for its offerings.
Promoter holding in Suraj Estate Developers Ltd stands at 69.60% as of March 2025, a slight adjustment from 72.81% as of October 2024. The company maintains a strong promoter base with no pledged shares, which signals confidence in the business prospects and financial stability.
Suraj Estate Developers boasts a prestigious clientele including prominent institutions such as ICICI Bank Ltd., Union Bank of India, National Stock Exchange of India Ltd., and Clearing Corporation of India. The company has developed custom spaces for iconic Indian institutions, including NEAT House for NSE, Saraswat Bank Bhavan, and CCIL Bhavan, showcasing its capability to handle complex institutional projects with high standards.
Suraj Estate Developers continues to strengthen its position as a leading real estate developer in Mumbai's premium locations, underpinned by a strong track record of project delivery and consistent financial performance growth.
---
