Q3 2026 Suraj Estate Developers Ltd Earnings Call Transcript
Key Points
- Suraj Estate Developers Ltd (NSE:SURAJEST) reported a 6% year-over-year increase in total income for Q3 FY26, reaching INR182 crore.
- The company achieved a 137% year-over-year increase in sales value for Q3 FY26, amounting to INR253 crore.
- Suraj one Business Bay witnessed a strong start with 40,000 square feet sold within 45 days of launch, translating into a sales value of INR200 crore.
- The company was awarded the Euromoney Real Estate Award for India's best residential developer, highlighting its strong brand and execution track record.
- Operational performance reflected a 211% year-over-year increase in sales area for Q3 FY26, driven by high contribution from the commercial segment.
- EBITDA for the nine months FY26 decreased slightly to INR171 crore from INR176 crore in the same period of FY25.
- The company maintained its pre-sale guidance of INR600 crore for the year, indicating cautious optimism despite a strong Q3 performance.
- There is a potential delay in launching new residential projects due to regulatory approvals, with some launches possibly spilling over to Q1 FY27.
- The Bandra project is not expected to contribute to financials until FY28, indicating a longer timeline for revenue realization.
- The company faces challenges with the Pagdi redevelopment, which may require higher tenant payouts and legal restructuring, potentially impacting project IRRs and timelines.
Ladies and gentlemen, good day and welcome to Q3 and nine-month FY26 earnings conference call hosted by Suraj Estate Developers Limited.
(Operator Instructions)
I now hand over the conference to Mr. Rahul Thomas. Whole-time director from Suraj Estate Developers Limited. Thank you. And over to you, sir.
Good afternoon, everyone. I welcome you all to our Q3 and nine-months FY26 earning conference call. Along with me, I have our Chief Financial Officer, Mr. Sheepal Shah, and SJI Investor relation advisors. I hope all of you have gone through our investor presentation uploaded on the stock exchange and our company website.
As we begin, I would like to briefly highlight a recent regulatory development in Maharashtra that we believe could gradually reshape redevelopment activity in south-central Mumbai, a market where we have built strong execution capabilities over the years. The state government has indicated its intent to introduce a new framework for redevelopment of
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