Suraj Estate Developers Limited (SURAJEST) AI Stock Analysis

Suraj Estate Developers Limited

(NSE:SURAJEST)

Select Model

Rating:68Neutral

Price Target:INR 189.00▲(9.25% Upside)

Action:reiterated

Date:09/22/26

Strong financial performance from revenue and equity growth is the leading driver, supported by attractive valuation; mixed technical signals and cash flow volatility are moderating factors.

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)

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 equity buildup support expansion, but cash flow volatility from heavy investments raises liquidity risks.

Income Statement

78Positive

Balance Sheet

85Very Positive

Cash Flow

42Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	5.56B	5.56B	5.49B	4.12B	3.06B	2.73B
Gross Profit	2.47B	2.40B	2.23B	2.76B	1.71B	1.48B
EBITDA	2.23B	2.18B	2.07B	2.32B	1.50B	1.29B
Net Income	902.79M	902.81M	1.00B	674.99M	321.60M	263.75M
Balance Sheet
Total Assets	19.61B	19.61B	17.47B	12.90B	9.43B	8.64B
Cash, Cash Equivalents and Short-Term Investments	539.04M	539.04M	420.59M	64.16M	121.05M	76.86M
Total Debt	6.45B	6.45B	4.61B	4.30B	5.93B	6.40B
Total Liabilities	9.68B	9.68B	8.44B	7.74B	8.71B	8.25B
Stockholders Equity	9.93B	9.93B	9.03B	5.16B	713.92M	391.63M
Cash Flow
Free Cash Flow	0	-1.42B	-4.02B	-163.34M	1.89B	684.73M
Operating Cash Flow	0	-1.39B	-4.01B	90.12M	1.90B	697.57M
Investing Cash Flow	0	-191.55M	767.38M	-897.42M	-271.22M	-210.63M
Financing Cash Flow	0	1.84B	3.15B	702.08M	-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
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GEECEE	70Outperform	INR 7.19B	15.85	―	0.59%	-6.32%	17.82%
IN:SURAJEST	68Neutral	INR 8.26B	8.69	―	―	3.69%	-1.21%
IN:SHRIRAMPPS	60Neutral	INR 10.90B	11.95	―	―	33.44%	13.37%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:OMAXE	42Neutral	INR 16.60B	-4.49	―	―	16.72%	43.38%
IN:ARIHANTSUP	40Underperform	INR 8.87B	30.77	―	0.12%	4.66%	-51.13%
IN:PENINLAND	38Underperform	INR 4.38B	-2.78	―	―	-46.10%	-292.11%

* General Sector Average

Performance Comparison

IN:SURAJEST and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SURAJEST	Suraj Estate Developers Limited	173.00	-121.00	-41.16%
IN:ARIHANTSUP	Arihant Superstructures Limited	205.20	-198.23	-49.14%
IN:GEECEE	GeeCee Ventures Limited	343.70	1.07	0.31%
IN:OMAXE	Omaxe Limited	90.75	9.94	12.30%
IN:PENINLAND	Peninsula Land Limited	13.20	-21.38	-61.83%
IN:SHRIRAMPPS	Shriram 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

Suraj Estate Developers Limited AI Stock Analysis