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Suratwwala Business Group Q2 FY27 results: net profit up 27.2% to ₹10.38 crore, revenue up 135.5%
Suratwwala Business Group Limited reported Q2 FY27 consolidated revenue of ₹61.17 crore, up 135.5% from Q2 FY26, while EBITDA rose to ₹15.56 crore and net profit to ₹10.38 crore. Revenue and profit have increased year on year in each of the last seven quarters, but the EBITDA margin declined to 25.4% from 42.6% a year earlier.
Key points
- Consolidated revenue was ₹61.17 crore in Q2 FY27, up 135.5% from ₹25.98 crore in Q2 FY26 and 45.2% from ₹42.12 crore in Q1 FY27.
- EBITDA was ₹15.56 crore, up 40.7% from ₹11.06 crore a year earlier, while the EBITDA margin fell 17.2 percentage points to 25.4%.
- Net profit was ₹10.38 crore, compared with ₹8.16 crore in Q2 FY26 and ₹9.34 crore in Q1 FY27; basic EPS was ₹0.59.
- For H1 FY27, revenue was ₹103.29 crore, up 146.3%, while net profit was ₹19.72 crore, up 46.2%, and basic EPS was ₹1.13.
- The stock was up 0.2% on the reaction day and up 0.7% by the next day's close from its pre-results close, versus sector medians of 2.1% and 1.7%.
How did Suratwwala Business Group perform in Q2 FY27?
Suratwwala Business Group reported consolidated revenue of ₹61.17 crore for Q2 FY27, up ₹35.19 crore or 135.5% from ₹25.98 crore in Q2 FY26. Revenue also rose ₹19.05 crore or 45.2% from ₹42.12 crore in Q1 FY27. EBITDA increased to ₹15.56 crore from ₹11.06 crore a year earlier and ₹13.43 crore in the previous quarter.
The EBITDA margin fell to 25.4% from 42.6% in Q2 FY26 and 31.9% in Q1 FY27. Profit before tax rose to ₹13.98 crore from ₹10.95 crore a year earlier and ₹12.66 crore in the previous quarter, while net profit increased to ₹10.38 crore from ₹8.16 crore and ₹9.34 crore, respectively. Basic EPS was ₹0.59, up from ₹0.46 in Q2 FY26 and ₹0.53 in Q1 FY27.
On a standalone basis, revenue was ₹26.85 crore, down 16.3%, while profit attributable to owners was ₹7.88 crore against ₹12.13 crore in the year-ago period. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 4 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 61.17 | 42.12 | 25.98 | +135.5% | +45.2% |
| Other income | 0.10 | 0.57 | 0.30 | −66.7% | −82.5% |
| Total expenses | 47.29 | 30.04 | 15.33 | +208.5% | +57.4% |
| EBITDA | 15.56 | 13.43 | 11.06 | +40.7% | +15.9% |
| EBITDA margin | 25.4% | 31.9% | 42.6% | −17.2 pp | −6.5 pp |
| Profit before tax | 13.98 | 12.66 | 10.95 | +27.7% | +10.4% |
| Tax | 3.60 | 3.32 | 2.79 | +29.0% | +8.4% |
| Net profit | 10.38 | 9.34 | 8.16 | +27.2% | +11.1% |
| EPS (₹) | 0.59 | 0.53 | 0.46 | +28.3% | +11.3% |
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 Suratwwala Business Group's costs and profit?
Total expenses rose to ₹47.29 crore in Q2 FY27 from ₹15.33 crore in Q2 FY26, an increase of ₹31.96 crore or 208.5%. Cost of materials accounted for ₹28.87 crore of that rise, increasing 221.1% to ₹41.93 crore from ₹13.06 crore; no reason for the increase was stated in the filing.
Other expenses were ₹2.88 crore, up ₹1.61 crore or 126.8% from ₹1.27 crore, while employee cost increased ₹0.22 crore or 37.3% to ₹0.81 crore. Depreciation rose ₹0.35 crore or 87.5% to ₹0.75 crore, and finance costs increased ₹0.91 crore or 9100.0% to ₹0.92 crore from ₹0.01 crore.
Other income fell ₹0.20 crore or 66.7% to ₹0.10 crore from ₹0.30 crore. There was no exceptional item in either quarter. Tax expense rose ₹0.81 crore or 29.0% to ₹3.60 crore from ₹2.79 crore, while profit before tax increased ₹3.03 crore or 27.7% to ₹13.98 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 41.93 | 13.06 | +28.87 | +221.1% |
| Employee cost | 0.81 | 0.59 | +0.22 | +37.3% |
| Finance costs | 0.92 | 0.01 | +0.91 | +9100.0% |
| Depreciation | 0.75 | 0.40 | +0.35 | +87.5% |
| Other expenses | 2.88 | 1.27 | +1.61 | +126.8% |
| Total expenses | 47.29 | 15.33 | +31.96 | +208.5% |
| Other income | 0.10 | 0.30 | −0.20 | −66.7% |
| Tax | 3.60 | 2.79 | +0.81 | +29.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹103.29 crore, up ₹61.36 crore or 146.3% from ₹41.93 crore in H1 FY26. Total income rose 142.8% to ₹103.96 crore from ₹42.82 crore, while profit before tax increased 47.0% to ₹26.64 crore from ₹18.12 crore.
Net profit for H1 FY27 was ₹19.72 crore, up ₹6.23 crore or 46.2% from ₹13.49 crore in H1 FY26. Basic EPS rose 46.8% to ₹1.13 from ₹0.77. The quarter accounted for the second half of the first-half reporting period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 103.29 | 41.93 | +146.3% |
| Profit before tax | 26.64 | 18.12 | +47.0% |
| Net profit | 19.72 | 13.49 | +46.2% |
| EPS (₹) | 1.13 | 0.77 | +46.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹309.05 crore on 30 September 2026 from ₹262.99 crore on 31 March 2026. Total equity rose to ₹127.71 crore from ₹110.41 crore, and borrowings increased to ₹95.66 crore from ₹83.0 crore, while cash declined to ₹4.11 crore from ₹4.87 crore.
Inventories increased to ₹181.45 crore from ₹163.85 crore, and trade receivables rose to ₹62.12 crore from ₹37.07 crore. Trade payables fell to ₹25.15 crore from ₹35.95 crore. In H1 FY27, operating cash flow was negative ₹7.33 crore against ₹6.83 crore in H1 FY26, while investing cash flow was negative ₹2.55 crore against ₹3.19 crore.
Financing cash flow was ₹9.12 crore in H1 FY27 compared with negative ₹2.49 crore in H1 FY26, and capital expenditure was ₹1.78 crore against ₹3.13 crore. The filing stated that cash generated from operations was negative ₹522.89 lakh and taxes paid net of refunds were negative ₹210.19 lakh in H1 FY27.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 309.05 | 262.99 |
| Total equity | 127.71 | 110.41 |
| Borrowings | 95.66 | 83 |
| Cash and equivalents | 4.11 | 4.87 |
| Inventories | 181.45 | 163.85 |
| Trade receivables | 62.12 | 37.07 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −7.33 | 6.83 |
| Cash from investing | −2.55 | 3.19 |
| Cash from financing | 9.12 | −2.49 |
| Capital expenditure | 1.78 | 3.13 |
Source: Company's results filing (XBRL).
How has Suratwwala Business Group done over the last 8 quarters?
Revenue rose from ₹3.18 crore in Q3 FY25 to ₹61.17 crore in Q2 FY27, while profit moved from ₹0.19 crore to ₹10.38 crore. Q4 FY26 was the peak in the supplied series for both revenue at ₹58.97 crore and net profit at ₹13.28 crore; Q2 FY27 revenue was higher, but profit was lower.
The EBITDA margin peaked at 43.8% in Q1 FY26 and bottomed at negative 8.6% in Q3 FY25. It declined to 25.4% in Q2 FY27 from 31.9% in Q1 FY27, even as revenue and profit increased. Revenue and profit each rose year on year in each of the last seven quarters.
Which businesses drove the quarter?
Real estate reported revenue of ₹26.85 crore in Q2 FY27, up 59.0% from ₹16.88 crore in Q2 FY26. Segment EBIT was ₹9.86 crore, compared with ₹6.89 crore a year earlier, and the reported EBIT margin was 36.7%.
The Solar Unit reported revenue of ₹34.43 crore and EBIT of ₹4.03 crore in Q2 FY27, with an EBIT margin of 11.7%. The filing did not provide the Solar Unit’s year-ago revenue or EBIT, so a year-on-year growth rate for the segment was not available.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Real estate | 26.85 | +59.0% | 9.86 | 36.7% |
| Solar Unit | 34.43 | 4.03 | 11.7% |
Source: Company's results filing (XBRL segment data).
How did Suratwwala Business Group shares react?
The results were announced after market on 4 November 2026. From the price when the filing appeared, the stock fell 5.1% after five minutes, 3.0% after 15 minutes and 2.1% after 30 minutes. From its previous close of ₹22.55, it closed the reaction day up 0.2%.
By the next day's close, the stock was up 0.7% from its pre-results close. The Residential Commercial Projects sector median was up 2.1% on the reaction day and 1.7% by the next day's close, leaving the stock at negative 1.9 percentage points and negative 1.0 percentage points, respectively, versus the sector.
| After the filing | Stock | Residential Commercial Projects median |
|---|---|---|
| 5 minutes | −5.1% | |
| 15 minutes | −3.0% | |
| 30 minutes | −2.1% | |
| Reaction day | +0.2% | +2.1% |
| Next day | +0.7% | +1.7% |
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 |
|---|---|
| 13 August 2026 | +3.3% |
| 27 May 2026 | +1.9% |
| 12 February 2026 | +0.1% |
| 14 November 2025 | +2.7% |
| 4 February 2025 | −0.5% |
| 26 October 2024 | +1.2% |
| 10 August 2024 | −3.0% |
| 24 May 2024 | −0.6% |
Source: MarketPing price-reaction measurement.
How did other Residential Commercial Projects companies do?
Forty-five other Residential Commercial Projects companies had filed results for the quarter by 6 November 2026. Their median revenue growth was 13.7%; 39 companies grew more slowly than Suratwwala Business Group, while six grew faster. Of the 45 peers, 25 reported higher profit.
| Suratwwala Business Group revenue growth (YoY) | +135.5% |
|---|---|
| Median of 45 other Residential Commercial Projects companies | +13.7% |
| Companies with slower revenue growth than Suratwwala Business Group | 39 of 45 |
| Companies with faster revenue growth than Suratwwala Business Group | 6 of 45 |
| Companies whose net profit rose | 25 of 45 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Suratwwala Business Group's revenue in Q2 FY27?
Revenue from operations was ₹61.17 crore, up 135.5% from ₹25.98 crore in Q2 FY26 (consolidated).
Did Suratwwala Business Group make a profit in Q2 FY27?
Yes. Net profit was ₹10.38 crore, against a net profit of ₹8.16 crore in Q2 FY26.
What was Suratwwala Business Group's EPS in Q2 FY27?
Basic earnings per share were ₹0.59, against ₹0.46 in Q2 FY26.
How did Suratwwala Business Group shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.2% from the previous close; the median Residential Commercial Projects stock moved +2.1%.
When did Suratwwala Business Group announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Unaudited Financial Results For Quarter And Half Year Ended September 30, 2026 And Other Business Matters. (BSE, 28 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
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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