Suraj Estate Developers Limited — Updates, 15-11-2024: Press Release

Suraj Estate Developers Limited has reported strong Q2 and H1 FY25 results, with Profit After Tax soaring by 88% in Q2 and 97% in H1 compared to the previous year. Total income for Q2 reached ₹109.6 crore, marking a 5.7% increase year-over-year, while H1 total income stood at ₹244.3 crore, rising by 18.3%. The company demonstrated robust operational performance, evidenced by a 14% increase in sales area and a 26% growth in sales value for Q2.

In October 2024, the company secured ₹343 crore through a preferential issue of equity shares and convertible warrants, further enhancing its financial position to support strategic initiatives such as land acquisitions and working capital improvements. The Promoter’s holding will experience a dilution from 74.95% to 67.71% post-issuance.

With a focus on the South Central Mumbai market, Suraj Estate Developers remains optimistic about capturing growth opportunities in the region, despite seasonal challenges, showcasing resilience in demand and operational execution.