Suraj Estate Developers Ltd.

•

surajestate.comBSE: 544054NSE: SURAJEST

Market Cap₹ 843 Cr.

Current Price

High / Low₹ 319 / 171

Stock P/E9.2

Book Value₹ 213

Price to Book1.64

Dividend Yield0.00 %

ROCE17.5 %

ROE14.6 %

Face Value₹ 5

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

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PROS

Company has delivered good profit growth of 131.2% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 31.9%
Company has a healthy return on capital (ROCE) of 23.0%
Company has delivered good sales growth of 44.6% CAGR over last 5 years
Company has consistently been profitable over the last 5 years

CONS

Operating cash flow has been negative in recent years
Promoter holding has decreased over last 2 years: -5.2pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.54x)
Equity base is being diluted - shares outstanding up 45.7%
Operating margins have contracted to 36.9% from 48.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	672.30	37.43	166415.21	1.19	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1210.75	29.32	120980.95	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1911.60	53.42	68373.70	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	OBEROIRLTY	1857.70	25.69	67546.39	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
5.	PRESTIGE	1558.85	58.96	67144.38	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
6.	GODREJPROP	1915.00	36.05	57684.87	0.52	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	641.10	39.87	23071.71	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	680.50	31.95	22201.94	0.22	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1377.35	116.32	15384.40	0.18	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1250.45	57.99	13374.04	0.48	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	799.30	10.77	11245.03	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	SURAJEST	176.50	9.18	843.20	0.00	22.85	7.37	144.71	9.24	17.54	36.82

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	102	103	106	100	134	109	170	136	132	145	180	99	145
	56	40	36	47	70	46	124	106	83	80	126	49	115
Operating Profit	47	63	70	53	63	63	46	30	50	65	54	50	30
OPM %	45.63%	61.03%	65.66%	53.12%	47.35%	58.15%	26.97%	22.05%	37.43%	44.78%	29.76%	50.45%	20.59%
	0	0	0	3	1	1	2	1	1	1	1	2	2
Interest	27	40	47	25	22	19	20	4	21	20	20	32	22
Depreciation	1	1	1	2	2	1	1	1	1	1	1	1	1
Profit before Tax	19	23	22	29	40	44	26	26	28	44	34	19	31
Tax %	24.99%	26.05%	24.99%	34.28%	25.42%	27.20%	23.17%	29.69%	25.28%	24.95%	26.33%	43.43%	27.02%
Net Profit	0	0	0	0	30	32	20	18	21	33	25	11	23
	4.63	5.33	5.03	4.39	7.03	7.43	4.23	3.61	4.60	7.15	5.44	2.32	4.94

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	35	87	240	273	306	412	549	568
	-20	20	153	141	155	179	346	370
Operating Profit	54	67	87	132	151	233	203	198
OPM %	157.15%	76.56%	36.10%	48.30%	49.39%	56.51%	36.91%	34.84%
	1	2	4	1	2	3	4	6
Interest	53	64	79	93	107	139	66	94
Depreciation	1	2	2	4	3	4	5	5
Profit before Tax	2	2	9	36	43	94	136	129
Tax %	25.17%	34.85%	30.61%	26.69%	25.80%	28.10%	26.39%	28.55%
Net Profit	2	2	6	27	32	67	100	92
EPS	0.51	0.48	1.98	8.35	10.13	15.75	21.65	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	6.35%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 45%
3 Years:: 26%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 133%
3 Years:: 56%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -43%

RETURN ON EQUITY

10 Years:: —
5 Years:: 39%
3 Years:: 32%
Last Year:: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6	6	6	16	16	21	23
	15	17	23	23	56	495	830
	376	502	620	645	609	397	450
Trade Payables	19	13	14	19	27	36	43
	180	171	128	160	293	335	398
Total Liabilities	596	709	791	863	1,001	1,284	1,743
	6	22	21	18	16	38	37
	0	0	1	0	9	1	3
	452	544	565	621	652	739	904
	0	0	0	0	0	107	57
Cash & Bank	7	6	21	24	28	110	39
	132	137	183	201	296	289	704
Total Assets	596	709	791	863	1,001	1,284	1,743

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-53	-31	-14	74	196	9	-306
Cash from Investing	-4	-15	-7	-21	-27	-90	79
Cash from Financing	59	45	27	-45	-157	70	238
	2	-2	5	4	6	-11	10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.95	74.95	69.60	69.60	69.60	69.60	69.60	69.80	69.80
	2.51	3.14	1.94	2.32	2.18	1.70	1.77	2.23	1.31
	1.42	1.95	1.97	1.99	1.45	0.93	1.03	1.11	1.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	21.12	19.96	26.49	26.08	26.77	27.78	27.60	26.86	27.87

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Suraj Estate Developers Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-05

Shareholders meeting

2026-09-05 - Suraj Estate Developers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Suraj Estate Developers Limited has informed the Exchange about Transcript

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Suraj Estate Developers Limited has informed the Exchange about Link of Recording

2026-08-17

Investor Presentation

2026-08-17 - Suraj Estate Developers Limited has informed the Exchange about Investor Presentation

2026-08-16

Press Release

2026-08-16 - Suraj Estate Developers Limited has informed the Exchange regarding a press release dated August 16, 2026, titled "Press Release on unaudited Financial Results for the quarter ended June 30, 2026 ".

2026-08-14

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-14 - Suraj Estate Developers Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-14

Issue of Securities

2026-08-14 - Suraj Estate Developers Limited has informed the Exchange about Enabling Resolution for raising fund by way of issuance of Equity shares or any otherequity-linked or convertible securities or warrants, up to ₹ 500 Crores in one or moretranches, through all or any permissible mode or method, including, private placement,preferential issue, rights issue, qualified institution placement (QIP) or such other modesas may be permitted, subject to approval of shareholders of the Company and subject tonecessary regulatory/statutory approvals, as may be required.

2026-08-14

Change in Management

2026-08-14 - Suraj Estate Developers Limited has informed the Exchange that 1. the Board, based on the recommendation of the Nomination and RemunerationCommittee and Audit Committee, approved the re-appointment of Mr. RajanMeenathakonil Thomas (DIN: 00634576) as Managing Director of the Company for afurther period of Five (5) years, with effect from October 01, 2026 to September 30, 2031.The re-appointment is subject to shareholders approval and includes remuneration asrecommended by the Nomination and Remuneration Committee and Audit Committee.2. the Board, based on the recommendation of the Nomination and RemunerationCommittee, approved the re-appointment of Mr. Rahul Rajan Jesu Thomas (DIN:00318419-) as Whole Time Director of the Company for a further period of Five (5) years,with effect from November 01, 2026 to October 31, 2031. The re-appointment is subjectto shareholders approval and includes remuneration as recommended by theNomination and Remuneration Committee and Audit Committee.

News

Recent coverage and analyst commentary for SURAJEST

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Suraj Estate Developers Ltd.

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Name

DLF

672.30

37.43

166415.21

1.19

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1210.75

29.32

120980.95

0.35

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1911.60

53.42

68373.70

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

OBEROIRLTY

1857.70

25.69

67546.39

0.43

543.51

29.02

1300.89

31.73

17.69

56.75

PRESTIGE

1558.85

58.96

67144.38

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

GODREJPROP

1915.00

36.05

57684.87

0.52

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

641.10

39.87

23071.71

0.16

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

680.50

31.95

22201.94

0.22

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1377.35

116.32

15384.40

0.18

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1250.45

57.99

13374.04

0.48

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

799.30

10.77

11245.03

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

SURAJEST

176.50

9.18

843.20

0.00

22.85

7.37

144.71

9.24

17.54

36.82

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

102

103

106

100

134

109

170

136

132

145

180

145

124

106

126

115

Operating Profit

OPM %

45.63%

61.03%

65.66%

53.12%

47.35%

58.15%

26.97%

22.05%

37.43%

44.78%

29.76%

50.45%

20.59%

Interest

Depreciation

Profit before Tax

Tax %

24.99%

26.05%

24.99%

34.28%

25.42%

27.20%

23.17%

29.69%

25.28%

24.95%

26.33%

43.43%

27.02%

Net Profit

4.63

5.33

5.03

4.39

7.03

7.43

4.23

3.61

4.60

7.15

5.44

2.32

4.94

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

240

273

306

412

549

568

-20

153

141

155

179

346

370

Operating Profit

132

151

233

203

198

OPM %

157.15%

76.56%

36.10%

48.30%

49.39%

56.51%

36.91%

34.84%

Interest

107

139

Depreciation

Profit before Tax

136

129

Tax %

25.17%

34.85%

30.61%

26.69%

25.80%

28.10%

26.39%

28.55%

Net Profit

100

EPS

0.51

0.48

1.98

8.35

10.13

15.75

21.65

—

Dividend Payout %

0.00%

6.35%

0.00%

—

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

495

830

376

502

620

645

609

397

450

Trade Payables

180

171

128

160

293

335

398

Total Liabilities

596

709

791

863

1,001

1,284

1,743

452

544

565

621

652

739

904

107

Cash & Bank

110

132

137

183

201

296

289

704

Total Assets

596

709

791

863

1,001

1,284

1,743

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-53

-31

-14

196

-306

Cash from Investing

-4

-15

-7

-21

-27

-90

Cash from Financing

-45

-157

238

-2

-11

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.95

69.60

69.80

2.51

3.14

1.94

2.32

2.18

1.70

1.77

2.23

1.31

1.42

1.95

1.97

1.99

1.45

0.93

1.03

1.11

1.02

Government

0.00

21.12

19.96

26.49

26.08

26.77

27.78

27.60

26.86

27.87

Suraj Estate Developers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Suraj Estate Developers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI