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Suraj Estate Developers Limited (SURAJEST) AI Stock Analysis

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IN:SURAJEST

Suraj Estate Developers Limited

(NSE:SURAJEST)

Select Model
Rating:62Neutral
Price Target:INR 183.00â–²(5.78% Upside)
Action:reiterated
Date:09/22/26

The score is mainly constrained by weak cash generation (negative operating and free cash flow in FY2025–FY2026) and rising debt in FY2026 despite strong reported profitability. Technicals are only moderately supportive with mixed momentum signals, while valuation helps via a low P/E.

Positive Factors
Revenue expansionStrong multi-year revenue expansion indicates that the developer has been scaling its project portfolio and converting development activity into reported sales. Continued top-line growth can improve operating leverage and provide a larger base from which to absorb project costs, provided execution remains controlled.
Negative Factors
Negative operating cash flowTwo consecutive years of negative operating and free cash flow show that reported profitability has not consistently converted into cash. For a developer, this can increase reliance on funding during project build-outs, constrain flexibility, and heighten execution risk if cash inflows are delayed.

Suraj Estate Developers Limited (SURAJEST) vs. iShares MSCI India ETF (INDA)

-50%-40%-30%-20%-10%0%10%IN:SURAJEST-40.37%INDA-12.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
INR 8.24B
Dividend Yield
―
Average Volume (3M)
7,757
Price to Earnings (P/E)
8.7
Beta (1Y)
2.12
Revenue Growth
3.69%
EPS Growth
-1.21%
Country
India
Employees
192
Sector
General
Sector Strength
55
Industry
Real Estate - Development

Suraj Estate Developers Limited Business Overview & Revenue Model

Company Description

Suraj Estate Developers Limited, an enterprise founded in 1986 and headquartered in Mumbai, India, specializes in real estate development. The company's primary operational focus is within the South Central Mumbai region, where it undertakes the cons...

How the Company Makes Money

Suraj Estate Developers Limited makes money primarily by developing and selling real estate units. Its core revenue stream is consideration received from customers for the sale of residential and/or commercial units in its projects (including units a...

Suraj Estate Developers Limited Financial Statement Overview

Summary

Strong revenue growth and consistently high operating profitability support the score, and leverage has improved versus earlier years. However, two consecutive years of negative operating/free cash flow alongside higher debt in FY2026 are major risks and materially reduce the overall financial strength assessment.

Income Statement

78Positive

Balance Sheet

64Positive

Cash Flow

34Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue5.56B5.56B5.49B4.12B3.06B2.73B
Gross Profit2.47B2.40B2.23B2.76B1.71B1.48B
EBITDA2.23B2.18B2.07B2.32B1.50B1.29B
Net Income902.79M902.81M1.00B674.99M321.60M263.75M
Balance Sheet
Total Assets19.61B19.61B17.47B12.90B9.43B8.64B
Cash, Cash Equivalents and Short-Term Investments539.04M539.04M420.59M64.16M121.05M76.86M
Total Debt6.45B6.45B4.61B4.30B5.93B6.40B
Total Liabilities9.68B9.68B8.44B7.74B8.71B8.25B
Stockholders Equity9.93B9.93B9.03B5.16B713.92M391.63M
Cash Flow
Free Cash Flow0-1.42B-4.02B-163.34M1.89B684.73M
Operating Cash Flow0-1.39B-4.01B90.12M1.90B697.57M
Investing Cash Flow0-191.55M767.38M-897.42M-271.22M-210.63M
Financing Cash Flow01.84B3.15B702.08M-1.57B-446.80M

Suraj Estate Developers Limited Technical Analysis

Technical Analysis SentimentNegative
Last Price173.00

Price Trends

50DMA193.49Negative
100DMA196.50Negative
200DMA207.98Negative

Market Momentum

MACD-6.65Positive
RSI34.79Neutral
STOCH26.91Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURAJEST, the sentiment is Negative. The current price of 173.00 is below the 20-day moving average (MA) of 192.43, below the 50-day MA of 193.49, and below the 200-day MA of 207.98, indicating a bearish trend. The MACD of -6.65 indicates Positive momentum. The RSI at 34.79 is Neutral, neither overbought nor oversold. The STOCH value of 26.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SURAJEST.

Suraj Estate Developers Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:SURAJEST against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:GEECEEIN:GEECEE70OutperformINR 7.19B15.85―0.59%-6.32%17.82%
IN:SURAJESTIN:SURAJEST62NeutralINR 8.26B8.69――3.69%-1.21%
IN:SHRIRAMPPSIN:SHRIRAMPPS60NeutralINR 10.90B11.95――33.44%13.37%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:OMAXEIN:OMAXE42NeutralINR 16.60B-4.49――16.72%43.38%
IN:ARIHANTSUPIN:ARIHANTSUP40UnderperformINR 8.87B30.77―0.12%4.66%-51.13%
IN:PENINLANDIN:PENINLAND38UnderperformINR 4.38B-2.78――-46.10%-292.11%

* General Sector Average

Performance Comparison

-50%0%50%IN:SURAJESTIN:ARIHANTSUPIN:GEECEEIN:OMAXEIN:PENINLANDIN:SHRIRAMPPSDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
IN:SURAJEST and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:SURAJESTSuraj Estate Developers Limited173.00-121.00-41.16%
IN:ARIHANTSUPArihant Superstructures Limited205.20-198.23-49.14%
IN:GEECEEGeeCee Ventures Limited343.701.070.31%
IN:OMAXEOmaxe Limited90.759.9412.30%
IN:PENINLANDPeninsula Land Limited13.20-21.38-61.83%
IN:SHRIRAMPPSShriram Properties Ltd.63.89-30.89-32.59%

Suraj Estate Developers Limited Corporate Events

Suraj Estate Developers clears September-quarter results and re-appoints independent director

Oct 31, 2026

Suraj Estate Developers Limited said its board has approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, which were reviewed by the audit committee and carry unmodified opinions f...

Suraj Estate Board Clears Half-Year Results and Reappoints Independent Director

Oct 31, 2026

Suraj Estate Developers Limited announced that its board has approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with an unmodified limited review report from its statutor...

Suraj Estate Developers Schedules Investor Call on Q2 and H1FY27 Results

Oct 28, 2026

Suraj Estate Developers Limited has scheduled an earnings call on November 2, 2026, to discuss its operational and financial performance for the quarter and half year ended September 30, 2026. The call, featuring Whole Time Director Rahul Thomas and...

Suraj Estate Developers Alerts Shareholders on AGM Access and KYC Compliance

Sep 11, 2026

Suraj Estate Developers Limited has notified the stock exchanges that it is sending letters to shareholders whose email addresses are not registered, providing a web link and exact navigation path to access the company’s Annual Report for FY 20...

Suraj Estate Developers Begins FY27 Strong with Robust Sales and Strategic Mumbai Land Buy

Aug 16, 2026

Suraj Estate Developers Limited reported a strong start to FY27, with unaudited Q1FY27 sales value rising 74% year-on-year to Rs 141 crore and sales area increasing 74% to 28,834 sq ft, although collections declined 25% to Rs 86 crore. Consolidated t...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 22, 2026