Suraj Estate Developers Limited — Investor Meet, 02-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Suraj Estate Developers reported FY25 income up 33% YoY at Rs. 553 Cr, led by strong South Central Mumbai sales. EBITDA fell 13% to Rs. 207 Cr due to higher costs and a one-time Rs. 30 Cr litigation hit; adjusted margins steady at 40%-45%. PAT rose 48.5% to Rs. 100 Cr on better pricing and efficiencies. Collections grew 22% to Rs. 386 Cr; realizations improved 21% to Rs. 54,353/sq ft. Net debt increased to Rs. 414 Cr for land buys and upcoming launches, with a Rs. 2,000 Cr FY26 pipeline including a major Rs. 1,200 Cr commercial launch in Mahim. Management expects steady demand, strong margins, and healthy cash flows supporting growth. Temporary debt may rise toward Rs. 500 Cr but should ease within the year.