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Suraj Estate Developers Limited
(SURAJEST)
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Rating:62Neutral
Price Target:
₹230.00
▲(17.35% 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
Strong Revenue Growth
Strong multi-year revenue expansion indicates increasing scale and successful monetization of the development pipeline. If execution continues, a larger revenue base can support broader fixed-cost absorption, strengthen market presence, and provide greater capacity to reinvest in future projects.
Negative Factors
Weak Cash Conversion
Two consecutive years of negative operating and free cash flow show that reported profitability has not translated consistently into cash. For a developer, project working-capital needs can cause swings, but persistent weakness may increase reliance on financing and raise execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Strong multi-year revenue expansion indicates increasing scale and successful monetization of the development pipeline. If execution continues, a larger revenue base can support broader fixed-cost absorption, strengthen market presence, and provide greater capacity to reinvest in future projects.
Read all positive factors
Suraj Estate Developers Limited (SURAJEST) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.97B
Dividend Yield0.13%
Average Volume (3M)11.68K
Price to Earnings (P/E)10.5
Beta (1Y)2.10
Revenue Growth3.69%
EPS Growth-1.21%
CountryIN
Employees192
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)19.51
Shares Outstanding47,773,388
10 Day Avg. Volume23,856
30 Day Avg. Volume11,680
Financial Highlights & Ratios
PEG Ratio-6.13
Price to Book (P/B)0.82
Price to Sales (P/S)1.46
P/FCF Ratio-5.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)19
Revenue Forecast (FY)₹7.13B
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 c...
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 unit...
Suraj Estate Developers Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.56B | 5.49B | 4.12B | 3.06B | 2.73B |
| Gross Profit | 2.40B | 2.23B | 2.76B | 1.71B | 1.48B |
| EBITDA | 2.18B | 2.07B | 2.32B | 1.52B | 1.29B |
| Net Income | 902.81M | 1.00B | 674.99M | 321.60M | 263.75M |
Balance Sheet | |||||
| Total Assets | 19.61B | 17.47B | 12.90B | 9.43B | 8.64B |
| Cash, Cash Equivalents and Short-Term Investments | 539.04M | 420.59M | 64.16M | 121.05M | 76.86M |
| Total Debt | 6.45B | 4.61B | 4.30B | 5.93B | 6.40B |
| Total Liabilities | 9.68B | 8.44B | 7.74B | 8.71B | 8.25B |
| Stockholders Equity | 9.93B | 9.03B | 5.16B | 713.92M | 391.63M |
Cash Flow | |||||
| Free Cash Flow | -1.42B | -4.02B | -163.34M | 1.89B | 684.73M |
| Operating Cash Flow | -1.39B | -4.01B | 90.12M | 1.90B | 697.57M |
| Investing Cash Flow | -191.55M | 767.38M | -897.42M | -271.22M | -210.63M |
| Financing Cash Flow | 1.84B | 3.15B | 702.08M | -1.57B | -446.80M |
Suraj Estate Developers Limited Technical Analysis
Neutral
196.00
Price Trends
197.46
Positive
200.39
Positive
214.20
Negative
Market Momentum
5.94
Negative
55.94
Neutral
69.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURAJEST, the sentiment is Neutral. The current price of 196 is above the 20-day moving average (MA) of 193.06, below the 50-day MA of 197.46, and below the 200-day MA of 214.20, indicating a neutral trend. The MACD of 5.94 indicates Negative momentum. The RSI at 55.94 is Neutral, neither overbought nor oversold. The STOCH value of 69.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SURAJEST.
Suraj Estate Developers Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹7.92B | 16.90 | ― | 0.54% | -6.32% | 17.82% | |
62 Neutral | ₹9.97B | 10.47 | ― | 0.13% | 3.69% | -1.21% | |
57 Neutral | ₹11.92B | 12.94 | ― | ― | 33.44% | 13.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹10.20B | 33.21 | ― | 0.11% | 4.66% | -42.65% | |
48 Neutral | ₹20.04B | -3.93 | ― | 0.36% | -4.46% | 29.56% | |
46 Neutral | ₹5.12B | -3.20 | ― | 0.98% | -46.10% | -292.11% |
* General Sector Average
IN:SURAJEST
Suraj Estate Developers Limited
206.80
-74.10
-26.38%
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Suraj Estate Developers Limited Corporate Events
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...
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. Consolidate...
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.