VMPL
Mumbai (Maharashtra) [India], January 29: Suraj Estate Developers Limited, a leading real estate player focused on the South-Central Mumbai (SCM) market with specialisation in redevelopment projects, announced its unaudited financial results for the quarter and nine months ended December'25.
Q3FY26 Business Updates:
- Launched Suraj One Business Bay, achieving ~40,000 sq. ft. of sales within 45 days of launch, translating into sales value of ~Rs.200 crore against a total project GDV of Rs.1,200 crore, reflecting sustained demand in the South-Central Mumbai and reinforcing the commercial segment as a key growth driver.
- Acquired two land parcels in Bandra West, admeasuring approximately 1,760 sq. metres and 906.37 sq. metres strengthening the land base and enhancing scale for a phased and timely residential project launches
- Awarded the Euromoney Real Estate Award 2025 for 'India's Best Residential Developer', recognising the Company's four-decade track record in developing and transforming established Mumbai neighbourhoods and reinforcing its strong brand, execution capabilities, and long-term commitment to quality development
Commenting on the performance, Mr. Rahul Thomas, Whole-time Director, Suraj Estate Developers, said, "Suraj One Business Bay has witnessed a strong traction, with ~40,000 sq. ft. of sales achieved within 45 days of launch, translating into sales value of ~₹200 crore against the total project GDV of ₹1,200 crore. This performance underscores the demand for Grade A commercial development in South Central Mumbai.
Building on this momentum, the company delivered a steady operational performance in Q3 and 9MFY26, supported by consistent sales momentum and improving commercial traction. Sales area for 9MFY26 stood at 1.03 lakh sq. ft., representing a growth of 56% YoY, driven largely by higher contribution from the commercial portfolio. Sales value rose to Rs.487 crore in 9MFY26, up 38% YoY, reflecting a favourable mix between residential and commercial segments. Collections for 9MFY26 stood at Rs.310 crore, indicating stable customer confidence and continued execution across the portfolio.
As we move forward, our strategy remains focused on deepening our presence in South Central Mumbai by leveraging our brand strength and execution capabilities across both residential and commercial segments. With increasing commercial traction and a growing opportunity pipeline, and a recent recognition as India's Best Real Estate Developer at the EuroMoney Award 2025, we believe we are well positioned to capitalize on emerging opportunities and create enduring value for our stakeholders."
About Suraj Estate Developers:
Suraj Estate Developers has been involved in the real estate business since 1986 and they develop real estate across the residential and commercial sectors in South Central Mumbai region. Company has a residential portfolio located in the markets of Mahim, Dadar, Prabhadevi and Parel, which are sub-markets of the South-Central Mumbai micro market where they have established their presence. Company is focused primarily on value luxury, luxury segments and commercial segments. Company is now venturing into residential real estate development in Bandra sub-market.
The focus area of operation is the South-Central region in Mumbai mainly consisting of Mahim, Matunga, Dadar, Prabhadevi and Parel, as their expertise lies is in the redevelopment of tenanted properties. Since most of the land parcels in the South-Central Mumbai market are redevelopment projects, company's core competence lies in tenant settlement which is a key element for unlocking value of such land parcels. Suraj Estate Developers identify properties having cessed/ non-cessed structures with existing tenants and tie up with the landlords of such tenanted properties by entering into development agreement or on outright purchase basis through conveyance deed.
Since incorporation, Suraj Estate Developers have completed 45+ projects with a developed area of more than 16.09 lakh square feet in the South-Central Mumbai region. In addition to the completed Projects, the company has 13 ongoing projects with a developable area of 23.54 lakh square feet and saleable RERA carpet area 7.55 lakh square feet and 16 upcoming Projects with an estimated carpet area of 11.57 lakh square feet.
Safe Harbor:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-
looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
