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Suraj Estate Developers Q2 FY27 results: net profit down 30.3% to ₹23.07 crore, revenue up 17.6%
Suraj Estate Developers Limited reported consolidated revenue of ₹170.04 crore in Q2 FY27, up 17.6% from Q2 FY26, while net profit fell 30.3% to ₹23.07 crore. EBITDA was ₹55.41 crore and the margin was 32.6%, compared with 44.8% in the year-ago quarter.
Key points
- Consolidated Q2 FY27 revenue was ₹170.04 crore, up 17.6% from ₹144.56 crore in Q2 FY26 and 17.5% from ₹144.71 crore in Q1 FY27.
- Consolidated EBITDA was ₹55.41 crore, down 14.4% from ₹64.74 crore a year earlier but up 4.0% from ₹53.28 crore in Q1 FY27.
- Net profit was ₹23.07 crore, down 30.3% from ₹33.09 crore a year earlier and up 1.0% from ₹22.85 crore in Q1 FY27.
- H1 FY27 revenue was ₹314.76 crore, up 13.6% from ₹277.03 crore, while PAT was ₹45.92 crore, down 15.6% from ₹54.38 crore.
How did Suraj Estate Developers perform in Q2 FY27?
Suraj Estate Developers reported consolidated revenue of ₹170.04 crore for Q2 FY27, up 17.6% from ₹144.56 crore in Q2 FY26 and 17.5% from ₹144.71 crore in Q1 FY27. Total income was ₹171.08 crore, against ₹145.42 crore a year earlier and ₹146.23 crore in the previous quarter.
EBITDA was ₹55.41 crore, down 14.4% from ₹64.74 crore in Q2 FY26 but up 4.0% from ₹53.28 crore in Q1 FY27. The EBITDA margin fell to 32.6% from 44.8% a year earlier and 36.8% in the previous quarter.
Profit before tax was ₹30.96 crore, down 29.8% from ₹44.09 crore a year earlier and 1.1% from ₹31.31 crore in Q1 FY27. Net profit was ₹23.07 crore, down 30.3% year on year but up 1.0% sequentially; basic EPS was ₹4.98 against ₹7.15 and ₹4.94. On a standalone basis, revenue was ₹69.03 crore and PAT was ₹19.07 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 170.04 | 144.71 | 144.56 | +17.6% | +17.5% |
| Other income | 1.04 | 1.52 | 0.86 | +20.9% | −31.6% |
| Total expenses | 140.13 | 114.92 | 101.33 | +38.3% | +21.9% |
| EBITDA | 55.41 | 53.28 | 64.74 | −14.4% | +4.0% |
| EBITDA margin | 32.6% | 36.8% | 44.8% | −12.2 pp | −4.2 pp |
| Profit before tax | 30.96 | 31.31 | 44.09 | −29.8% | −1.1% |
| Tax | 7.89 | 8.46 | 11 | −28.3% | −6.7% |
| Net profit | 23.07 | 22.85 | 33.09 | −30.3% | +1.0% |
| EPS (₹) | 4.98 | 4.94 | 7.15 | −30.3% | +0.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Suraj Estate Developers' costs and profit?
Total expenses rose 38.3% year on year to ₹140.13 crore from ₹101.33 crore, exceeding the increase in revenue. Cost of materials was ₹77.30 crore, up 11.1% from ₹69.55 crore, while employee cost rose 11.6% to ₹6.45 crore from ₹5.78 crore.
Finance costs increased 19.1% to ₹24.39 crore from ₹20.47 crore, other expenses rose 35.3% to ₹10.88 crore from ₹8.04 crore, and depreciation was ₹1.10 crore against ₹1.04 crore. Other income increased to ₹1.04 crore from ₹0.86 crore, and there was no exceptional item.
Against Q1 FY27, cost of materials fell 16.8% to ₹77.30 crore from ₹92.86 crore, but other expenses rose to ₹10.88 crore from ₹2.59 crore and finance costs increased to ₹24.39 crore from ₹22.39 crore. Tax fell 6.7% to ₹7.89 crore from ₹8.46 crore; year on year, tax was down 28.3% from ₹11 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 77.30 | 69.55 | +7.75 | +11.1% |
| Employee cost | 6.45 | 5.78 | +0.67 | +11.6% |
| Finance costs | 24.39 | 20.47 | +3.92 | +19.1% |
| Depreciation | 1.10 | 1.04 | +0.06 | +5.8% |
| Other expenses | 10.88 | 8.04 | +2.84 | +35.3% |
| Total expenses | 140.13 | 101.33 | +38.80 | +38.3% |
| Other income | 1.04 | 0.86 | +0.18 | +20.9% |
| Tax | 7.89 | 11 | −3.11 | −28.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹314.76 crore, up 13.6% from ₹277.03 crore in H1 FY26, while total income rose 13.9% to ₹317.31 crore from ₹278.56 crore. PBT was ₹62.27 crore, down 14.2% from ₹72.57 crore.
H1 FY27 PAT was ₹45.92 crore, down 15.6% from ₹54.38 crore, and basic EPS was ₹9.92 against ₹11.75. The company filed unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 314.76 | 277.03 | +13.6% |
| Profit before tax | 62.27 | 72.57 | −14.2% |
| Net profit | 45.92 | 54.38 | −15.6% |
| EPS (₹) | 9.92 | 11.75 | −15.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,282.77 crore, up from ₹1,961.3 crore at 31 March 2026, while total equity was ₹1,038.98 crore against ₹993.06 crore. Borrowings rose to ₹799.53 crore from ₹641.96 crore, and cash fell to ₹14.46 crore from ₹40.08 crore.
Inventories were ₹935.31 crore, down from ₹945.28 crore, while trade receivables increased to ₹131.31 crore from ₹116.96 crore and trade payables fell to ₹22.29 crore from ₹37.85 crore. H1 FY27 operating cash flow was negative ₹98.84 crore, against negative ₹42.99 crore in H1 FY26.
Investing cash flow was negative ₹51.76 crore, compared with negative ₹11.03 crore a year earlier, while financing cash flow was ₹115.25 crore against ₹48.66 crore. Capital expenditure was ₹0.18 crore in H1 FY27, compared with ₹0.07 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,283 | 1,961 |
| Total equity | 1,039 | 993.06 |
| Borrowings | 799.53 | 641.96 |
| Cash and equivalents | 14.46 | 40.08 |
| Inventories | 935.31 | 945.28 |
| Trade receivables | 131.31 | 116.96 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −98.84 | −42.99 |
| Cash from investing | −51.76 | −11.03 |
| Cash from financing | 115.25 | 48.66 |
| Capital expenditure | 0.18 | 0.07 |
Source: Company's results filing (XBRL).
How has Suraj Estate Developers done over the last 8 quarters?
Revenue reached ₹170.04 crore in Q2 FY27, close to the ₹180.05 crore reported in Q3 FY26, while the lowest level in the series was ₹98.78 crore in Q4 FY26. PAT rose to ₹23.07 crore from ₹10.76 crore in Q4 FY26, but remained below the ₹33.09 crore peak in Q2 FY26.
The EBITDA margin peaked at 50.4% in Q4 FY26 and bottomed at 22.1% in Q4 FY25. It fell to 32.6% in Q2 FY27 from 36.8% in Q1 FY27. Revenue rose year on year in each of the last two quarters.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with a limited review report carrying unmodified opinions. The results had been reviewed and recommended by the Audit Committee.
Based on the Nomination and Remuneration Committee’s recommendation, the board approved the reappointment of Satyendra Shridhar Nayak as an Independent Director for five years from 3 December 2026 to 2 December 2031. The reappointment is subject to shareholders’ approval. The same-day filings did not disclose a dividend or fund raise.
How did Suraj Estate Developers shares react?
On the reaction day, the Residential Commercial Projects median move was 1.4%, making Suraj Estate Developers’ move 3.7 percentage points higher than the industry median. By the next day’s close, the stock’s gain was 11.5 percentage points above the industry median. Earlier reaction-day moves included declines of 1.2% on 5 September 2026 and 7.6% on 30 May 2026.
| After the filing | Stock | Residential Commercial Projects median |
|---|---|---|
| 5 minutes | −0.4% | |
| 15 minutes | +1.7% | |
| 30 minutes | +2.6% | |
| Reaction day | +5.2% | +1.4% |
| Next day | +13.2% | +1.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 September 2026 | −1.2% |
| 30 May 2026 | −7.6% |
| 28 January 2026 | −3.7% |
| 27 October 2025 | +8.5% |
| 25 July 2025 | −7.6% |
| 27 May 2025 | −4.2% |
| 10 February 2025 | −10.1% |
| 14 November 2024 | −0.9% |
Source: MarketPing price-reaction measurement.
How did other Residential Commercial Projects companies do?
Thirty-four other Residential Commercial Projects companies had filed for the quarter by 4 November 2026. Their median revenue growth was 22.4%, compared with 17.6% for Suraj Estate Developers. Of these peers, 16 grew more slowly than the company and 17 grew faster.
Twenty of the 34 peers reported higher profit. The company’s Q2 FY27 revenue growth of 17.6% therefore trailed the peer median, while its profit fell 30.3% year on year.
| Suraj Estate Developers revenue growth (YoY) | +17.6% |
|---|---|
| Median of 34 other Residential Commercial Projects companies | +22.4% |
| Companies with slower revenue growth than Suraj Estate Developers | 16 of 34 |
| Companies with faster revenue growth than Suraj Estate Developers | 17 of 34 |
| Companies whose net profit rose | 20 of 34 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Suraj Estate Developers' revenue in Q2 FY27?
Revenue from operations was ₹170.04 crore, up 17.6% from ₹144.56 crore in Q2 FY26 (consolidated).
Did Suraj Estate Developers make a profit in Q2 FY27?
Yes. Net profit was ₹23.07 crore, against a net profit of ₹33.09 crore in Q2 FY26.
What was Suraj Estate Developers' EPS in Q2 FY27?
Basic earnings per share were ₹4.98, against ₹7.15 in Q2 FY26.
How did Suraj Estate Developers shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.2% from the previous close; the median Residential Commercial Projects stock moved +1.4%.
When did Suraj Estate Developers announce its Q2 FY27 results?
On 31 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 23 October 2026) · PDF
- Outcome of Board Meeting (NSE, 31 October 2026) · PDF
- Integrated Filing- Financial (NSE, 31 October 2026) · PDF
- The earnings call (2 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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