Q4 2026 Suraj Estate Developers Ltd Earnings Call Transcript
Key Points
- Suraj Estate Developers Ltd (NSE:SURAJEST) reported a 23% year-on-year increase in presales, reaching INR615 crores, surpassing their guidance of INR600 crores.
- Sales area grew by 42% year-on-year to 1.31 lakh square feet, indicating strong demand and operational success.
- The company achieved significant operational milestones with key launches such as Suraj One Business Bay, Suraj Park View 1, and Suraj Aureva, with a cumulative GDV of approximately INR1,600 crores.
- The acquisition of development rights for a land parcel contiguous to Suraj One Business Bay is expected to generate an additional saleable carpet area of 1.5 lakh square feet, enhancing their commercial footprint.
- EBITDA for the year increased to INR223 crores from INR207 crores in FY25, with EBITDA margins improving to 39.7% from 37.4% in FY25.
- The company's PAT for FY26 declined to INR90 crores, primarily due to higher finance costs from strategic acquisitions and business development initiatives.
- Net debt increased to INR579.91 crores, driven by business development activities and strategic acquisitions, raising concerns about rising debt levels.
- Average realization for FY26 stood at INR46,895 per square foot, lower than the previous year's INR54,586, due to a shift in product mix towards value luxury projects.
- The company's interest rate on incremental debt has increased to an average of 13%, up from 12% to 12.5% previously, due to new land-related acquisitions.
- There is a delay in providing presales guidance for FY27, attributed to pending amalgamation and RERA approvals for new projects.
Ladies and gentlemen, good day, and welcome to Q4 and FY26 earnings conference call of Suraj Estate Developers Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rahul Thomas, Whole-Time Director from Suraj Estate Developers Limited. Thank you, and over to you, sir.
Good morning, everyone. I welcome you all to our Q4 and FY26 earnings conference call. Along with me, we have our CFO, Mr. Shreepal Shah; and SGA, our Investor Relations Advisers. I hope all of you have gone through our investor presentation uploaded on the stock exchanges and our company website.
The Mumbai real estate market continued to demonstrate strong momentum during the year, supported by healthy economic activity, stable consumer sentiment and sustained demand across both residential and commercial segments. Premium and redevelopment-driven micro markets across South Central Mumbai witnessed healthy traction driven by infrastructure
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