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Suraj Estate Developers Ltd share Price Today

Company details

406.05
430.00
255.80
443.90
6M Return 0.00%
1Y Return 23.21%
Mkt Cap.(Cr) 1,828.34
Volume 520,384
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 520,384

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Realty company Suraj Estate Developers announced FY24 results:

Financial Highlights:

  • Total Income: Rs 415.7 crore a 35.0% increase from FY23 at Rs 307.9 crore.
  • EBITDA: Rs 236.4 crore a 54.3% increase from FY23 at Rs 153.2 crore.
  • EBITDA Margin at 56.9% compared to 49.8% in FY23.
  • PAT: Rs 67.5 crore at a 110.9% increase from FY23 at Rs 32.0 crore.
  • PAT Margin at 16.2% compared to 10.4% in FY23.
  • Gross Debt (Rs. crore): Rs 425.57 crore a decrease of Rs 167.52 crore from FY23 (Rs 593.09 crore).
  • Net Debt (Rs. crore): Rs 315.34 crore a decrease of Rs 249.73 crore from FY23 (Rs 565.07 crore).

Commenting on the performance, Rahul Thomas, Executive Director, Suraj Estate Developers, said, “The residential real estate market in India soared in Q1 of calendar year 2024, fueled by persistent high demand. High-end and luxury segments led the charge, while the mid-range maintained its dominance in launches. With infrastructure boom, improved connectivity and a notable 18% YoY absorption rate increase, there's a 31% YoY drop in unsold inventory, presenting growth opportunities for industry players like us.

FY24 was a year of strong performance for us where we achieved a remarkable 35% increase in sales over FY23 and an 111% growth in Profit After Tax as compared to the previous year.Our effective cost control measures led to a growth of 54% in our EBITDA thereby improving our margins by ~710 bps. Operationally during the year, we sold 1,07,136 sq ft translating to sales of Rs 483 crore. Collections for the year stood at Rs 316 crore. Focus during the year was on selling luxury projects which reflects in improved realisations of Rs 45,074 per sq ft in FY24 vs Rs 42,420 per sq ft in FY23.

The past quarter witnessed an amicable resolution of a longstanding litigation, signifying a significant milestone for our company and reinforcing our dedication to excellence in the real estate domain. This favourable resolution not only marks a crucial achievement but also unlocks a sales potential of Rs 350 crore for us. Furthermore, the projected redevelopment of five buildings is expected to generate an additional Rs 225 crore, further enhancing our company's financial outlook.

We at Suraj continue to express unwavering commitment to continue delivering world-class luxury projects. We stand poised at the threshold of immense opportunity, fuelled by our optimism for growth.”

Result PDF

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Suraj Estate Developers Ltd shares SWOT Analysis

Strengths (8)

  • Strong Annual EPS Growth
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year
  • Growth in Net Profit with increasing Profit Margin (QoQ)

Weakness (3)

  • MFs decreased their shareholding last quarter
  • Inefficient use of shareholder funds - ROE declining in the last 2 years
  • Declining Net Cash Flow : Companies not able to generate net cash

Opportunity (2)

  • RSI indicating price strength
  • High Volume, High Gain

Threats (1)

  • Increasing Trend in Non-Core Income

Resistance and support

R1 426.1
R2 440.0
R3 450.0
Pivot

416.07

S1 402.1
S2 392.1
S3 378.2
EMA SMA
384.4
372.6
354.3
-
383.4
375.6
348.8
-
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
SHARE INDIA SECURITIES LIMITED Bulk Purchase 2024-04-18 369.33 270850 NSE
SHARE INDIA SECURITIES LIMITED Bulk Sell 2024-04-18 370.22 200 NSE
BNP PARIBAS ARBITRAGE Bulk Sell 2024-04-01 302.97 222000 NSE
Name Category Shares
Rajan Thomas PROMOTER 61.5%
Sujatha Thomas PROMOTER 8.74%
Rahul Jesu Thomas PROMOTER 0.88%
Accord Estates Private Limited PROMOTER 3.38%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
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Debt/Equity
P BV

Suraj Estate Developers Ltd Stocks COMPARISON

Financials( in Cr) Suraj Estate Developers Ltd DLF Ltd Godrej Properties Ltd Prestige Estates Projects Ltd Oberoi Realty Ltd
Price 412.15 878.60 2,998.50 1,926.85 1,907.80
% Change 2.74 0.52 -1.06 2.90 -1.40
Mcap Cr 1,828.34 217,480.91 83,370.59 77,240.09 69,367.99
Revenue TTM Cr 305.74 5,694.83 2,252.26 8,315.00 4,495.79
Net Profit TTM Cr 32.06 1,100.92 620.60 1,066.80 1,926.60
PE TTM 27.13 79.67 114.96 56.23 39.46
1 Year Return 23.21 74.46 103.36 235.60 93.86
ROCE 22.24 4.51 5.64 10.43 16.30
ROE 57.99 2.97 5.80 8.57 14.79
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 71.40 Cr FV: 5.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,317.57 -2,589.17
LAST 3M 111,725.82 -36,230.77
LAST 6M 182,653.52 -16,910.03
LAST 12M 290,144.87 98,834.05

Suraj Estate Developers Ltd Information

Stock PE (TTM)
27.13
Promoter Holding
74.95%
Book Value
116.5301
ROCE
22.24%
ROE
57.99%
Description
  • Suraj Estate Developers Limited was originally incorporated as `Suraj Estate Developers Private Limited`, at Mumbai dated September 10, 1986 issued by the RoC. Subsequently, Company converted into a Public Limited Company dated October 30, 2021 and the name was changed to `Suraj Estate Developers Limited` vide fresh Certificate of Incorporation dated December 9, 2021. Founded by the Promoter, Rajan M. Thomas, the Company is engaged in the business of real estate development. The Company has been involved in real estate business since 1986, and developed real estate across residential and commercial sectors in the South Central Mumbai region. In residential portfolio, it is present across the "value luxury" and "luxury" segments with unit values ranging from Rs. 10 million to Rs 130 million. In commercial portfolio, it has constructed and sold built-to-suit corporate headquarters to institutional clientele, Saraswat Cooperative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). The Company had launched 14 residential projects out of which 12 projects are redevelopment projects. Majority of projects executed by the Company are on land owned or through development agreements with land-owners. It completed 42 projects with a developed area of more than 1,046,543 sq. ft. in South Central Mumbai region. In addition to completed projects, it has 9 ongoing projects with a developable area of 1,970,445 square feet and saleable RERA carpet area 442,616 sq. ft. and 21 upcoming projects with an estimated carpet area of 928,400 sq. ft. In the Value Luxury Segment, the Company completed projects like St. Anthony Apartments (Mahim), Lumiere (Dadar) and Elizabeth Apartment (Dadar). It completed Mangirish (Dadar) and Tranquil Bay (Dadar) projects located to the Arabian Sea. In addition, it constructed and sold residential buildings for institutional clientele such Clearing Corporation of India Limited (Dadar) and other financial institutions. In year 1990, the Company completed a residential project, `Suraj Venture A` located at Mahim, Mumbai. In 1992, it sold a residential building `Vinayak Darshan` to a nationalized public sector bank at Dadar, Mumbai. In 1996, it sold a residential building known as `Suraj Heights III` at Goregaon (East), Mumbai to a leading private sector bank. In 2000, the Company sold `ICICI Apartments`, a residential project at Kirti College Lane, Dadar (West), Mumbai to a leading private sector bank for senior officers. It sold `NEAT House` in Dadar to a stock exchange. In 2005, it sold `Gloriosa Apartment` at Dadar (West), Mumbai, to Clearing Corporation of India Limited for their senior officers. In 2007, the Company sold `ICICI Apartments` located at Prabhadevi, Mumbai to a leading private sector bank as quarters for senior officials. In 2010, it sold `Saraswat Bank Bhavan` located at Prabhadevi as corporate office for Saraswat Co-operative Bank Limited. In 2012, `CCIL Bhavan` to suit commercial building at Dadar (West), Mumbai. Later in 2016, Accord Estates Private Limited, a Material Subsidiary, was formed with Runwal Realty Private Limited for development of a residential project known as `Nirvana` located at Parel (East). In 2017, `Palette`, a flagship project located at Dadar was launched, which later on got into a luxury residential segment of the real estate market in South Central Mumbai. It also launched sea luxury project , `Ocean Star` at Dadar (West). Through the launch of Louisandra` residential project in Dadar, Mumbai, the Company got into value luxury segment, which comprised 1 BHK and compact 2 BHK in the South Central Mumbai. It launched a luxury project, `Ave Marie Apartments` at Dadar, Mumbai in 2019. In 2021, the Company purchased vacant land parcel at Tulsi Pipe Road from Tata Motors. It acquired investment from ICICI Ventures Funds Management Company for part financing project cost of newly launched value luxury project `Suraj Eterna`. It launched launched residential value luxury projects like `Vitalis` and `Suraj Eterna` at L.J. Road, Mahim, Mumbai. The Company is planning to raise capital from Public by raising Rs. 500 crore Equity Shares through Fresh Issue.

No Data Found

AGM Date (Month) :
Face Value Equity Shares : 5
Market Lot Equity Shares : 1
BSE Code : 544054
NSE Code : SURAJEST
Book Closure Date (Month) :
BSE Group : B
ISIN : INE843S01025

FAQ’s on Suraj Estate Developers Ltd Shares

You can buy Suraj Estate Developers Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Suraj Estate Developers Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:59 PM the closing price of Suraj Estate Developers Ltd was Rs.412.15.

The latest PE ratio of Suraj Estate Developers Ltd as of Jun 14, 2024 03:59 PM is 27.13

The latest PB ratio of Suraj Estate Developers Ltd as of Jun 14, 2024 03:59 PM is 0.28

The 52-week high of Suraj Estate Developers Ltd share price is Rs. 443.90 while the 52-week low is Rs. 255.80

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:59 PM, the market cap of Suraj Estate Developers Ltd stood at Rs. 1,828.34.

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