Q1 2027 Suraj Estate Developers Ltd Earnings Call Transcript
Key Points
- Sales value and area grew 74% year-on-year in Q1 FY27, indicating strong demand.
- EBITDA margin remained robust at approximately 37.5%.
- Suraj One Business Bay commercial project saw strong sales traction with 33% of inventory sold post-launch.
- Strategic land acquisitions in Dadar West and adjoining Mahim parcel enhance project pipeline and GDV.
- Management guided for a healthy launch pipeline of INR1,600 crores for FY27, with a presales target of INR700 crores.
- Net debt increased to INR614 crores due to capital deployment in acquisitions and project investments.
- Collections declined to INR86 crores in Q1 FY27 from INR115 crores in Q1 FY26.
- Residential sales were impacted by low inventory, limiting growth in that segment.
- Bandra project launch is delayed to next financial year due to pending conveyances and amalgamation.
- Debt levels are expected to rise temporarily due to new launches, with no clear timeline for de-leveraging.
Ladies and gentlemen, good day, and welcome to the Q1 FY27 earnings conference call hosted by 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 afternoon, everyone. I welcome you all to our Q1 FY27 earnings conference call. Along with me, I 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.
South and Central Mumbai remain among Mumbai's most established and premium real estate markets, benefiting from a mature commercial ecosystem, strong social infrastructure, connectivity and proximity to key employment centers. In the office segment, the CBD and Worli continue to see limited availability of quality Grade A space, while Lower Parel
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