Slide 1: Exchange filing cover letter
May 31, 2026 To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) 21st Floor, Dalal Street Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: SURAJEST BSE Scrip Code: 544054 Dear Sir/Madam Sub.: Inve
Slide 2: Investor Presentation
Investor Presentation May 2026 surajestate.com
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Suraj Estate Developers Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitati
Slide 4: Message from the Director
Message from the Director Mr. Rahul Thomas Whole-Time Director • Commenting on the performance for Q4 & FY26, Mr. Rahul Thomas, Whole Time Director, Suraj Estate Developers, said, “FY26 marked a year of strong execution and strategic progress for the Company, driven by healthy sales momentum, succes
Slide 5: Strategic Project Expansion of Suraj One Business Bay
Strategic Project Expansion of Suraj One Business Bay Commercial Project Launch Strategic Acquisition Expanded GDV Potential o Successfully launched o Signed an MOU for o Develop a larger land Suraj One Business Bay, acquisition of parcel of ~5,941 sq m our marquee commercial development rights of d
Slide 6: FY26 Launches of ~₹1,600 crores across Commercial & Residential Projects
FY26 Launches of ~₹ 1,600 crores across Commercial & Residential Projects Suraj One Suraj Park View 1 Suraj Aureva Business Bay Salable Area | 2.09 Lakhs Sq. Ft. Salable Area | 0.53 Lakhs Sq. Ft. Salable Area | 0.24 Lakhs Sq. Ft. GDV | ₹1,200 crores GDV | ₹250 crores GDV | ₹120 crores
Slide 7: Q4 & FY26 Financial and Operational Highlights
Q4 & FY26 Financial and Operational Highlights surajestate.com
Slide 8: Operational Performance For Q4 & FY26
Operational Performance For Q4 & FY26 Sales Area (Sq. Ft) Sales Value (₹ Cr) 131,167 615 27,968 146 25,848 501 128 92,136 360 78,393 15,947 73 24,171 139 489 89,539 12,022 52,774 255 55 1,677 2,597 7 12 Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 Residential Commercial Collections (₹ Cr) Average
Slide 9: Q4 & FY26 Financial Performance
Q4 & FY26 Financial Performance Total Income (₹ Cr) EBITDA (₹ Cr) PAT (₹ Cr) 137 52 18 Q4 FY26 101 31 11 The decline in PAT during the year was primarily attributable to higher Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 finance costs arising from recent acquisitions and ongoing business development a
Slide 10: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement In ₹ Crs Particulars Q4FY26 Q4FY25 Y-o-Y (%) Q3FY26 Q-o-Q (%) FY26 FY25 Y-o-Y (%) Revenue from operations 98.8 136.5 180.1 555.9 549.1 Other income 2.2 0.7 1.4 5.1 4.1 Total income 101.0 137.2 -26% 181.5 -44% 561.0 553.2 1% Expenses Operating and project expenses
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet In ₹ Crs Particulars Mar-26 Mar-25 Particulars Mar-26 Mar-25 ASSETS EQUITY AND LIABILITIES Equity Non-current assets a) Equity share capital 23.1 23.1 a) Property, plant and equipment 53.9 22.2 b) Other equity b) Intangible assets 9.2 10.4 - Other reserves 986.9 896.5 - Ca
Slide 12: Suraj Estate | Growth Journey So Far
Leading player in redevelopment scheme 33 (7). This Suraj Estate | Growth Journey So Far allows to build scale in capital light business model 39+ years of 45+ 1.6Mn+ 13 projects sq.ft. predominantly ongoing 18 upcoming experience in completed across developed in Micro projects in the projects in th
Slide 13: One of the Market Leaders in Redevelopment Projects in SCM
One of the Market Leaders in Redevelopment Projects in SCM* Sub-markets of South Central Mumbai (SCM) Value Luxury 1 BHK and compact 2 One Of The Market Leaders In Redevelopment BHK flats Mahim 263 Projects Launched in SCM sub-markets Matunga Dadar 160 (~61%) 103 (~39) Luxury 2/3/4 BHK flats Redevel
Slide 14: Redevelopment Expertise
Redevelopment Expertise Value Unlock Time Lines Zero Date 4-6 Months 3 Months 3 Months 3 Months 3-4 Months 3 Months 00 01 02 03 04 05 06 07 Acquisition of land by Obtaining IOD for Obtaining CC and OC and Handover of way of Conveyance / the project RERA registration Possession Identification Of Land
Slide 15: SCM | A Lucrative Micro Market in Mumbai (1/3)
SCM | A Lucrative Micro Market in Mumbai (1/3) 13 Ongoing Projects Suraj One Business Bay Developable Area 23.54 Lakh Sq. Ft. Carpet Area 7.55 Lakh Sq. Ft.
Slide 16: SCM | A Lucrative Micro Market in Mumbai (2/3)
SCM | A Lucrative Micro Market in Mumbai (2/3) 18 Upcoming Projects Estimated Carpet Area 12.12 Lakh Sq. Ft.
Slide 17: SCM | A Lucrative Micro Market in Mumbai (3/3)
SCM | A Lucrative Micro Market in Mumbai (3/3) Close proximity to key locations such as Large pool of old/dilapidated buildings BKC, Worli sea link, Lower Parel, etc Dynamics of SCM Market One of the few locations which allows Improving infrastructure via multiple residential + commercial projects t
Slide 18: Our Journey Spanning Over 39 Years
Our Journey Spanning Over 39 Years 1986 1990 1992 2000 2005 Incorporated as a private Completed maiden ‘Vinayak Darshan’ at ‘ICICI Apartments’ at 14 residential apartments limited company residential project at Mahim Dadar (W) to a public Dadar (W) as office in Dadar (W) to CCIL as (W) sector bank q
Slide 19: Proven Track Record of Delivering Residential & Commercial Buildings
Proven Track Record of Delivering Residential & Commercial Buildings Mangirish Dadar Timeline of completed projects 5.6 9 Tranquil Bay 8 Dadar 6 8 7 2.0 2.4 1.9 1.7 1.6 4 0.9 3 1990-1995 1996-2000 2001-2005 2006-2010 2011-2015 2016-2023 2024-2026 Developed areas In Lakh Sq Ft Consultant and Contract
Slide 20: Comparison of Various Business Models in MMR Region
Comparison of Various Business Models in MMR Region Redevelopment of Tenanted Properties Redevelopment of Society Parameters Vacant Land- Normal Development (Conveyance/ DA) Under DCPR 33(7) Under DCPR 33(7) B Land Status Conveyance / DA DA Conveyance / JDA Upfront Capital Requirement Moderate Low H
Slide 21: Competitive Strengths
Competitive Strengths Established Real Estate Brand In SCM Diversified Portfolio Across Value Luxury And Luxury Segments Leading Market Position & Ability To Sell During Construction Phase. Present Across Price Points, Unit Sizes And Sub-Markets In The SCM Marketing & Sales Strategy Strong Expertise
Slide 22: Established Residential Real Estate Brand in SCM
Established Residential Real Estate Brand in SCM Leading Market Position & Ability To Sell During Construction Phase 60% 1st Ongoing Residential Projects 16% 13% 11% In terms of supply of units Suraj Estate Developer Developer Developer #4- Project Sale Developers #1 #2 #3 #10 Unsold Collection Deve
Slide 23: Diversified Portfolio Under Value Luxury, Luxury & Commercial Segments (1/2)
Diversified Portfolio Under Value Luxury , Luxury Segments & Commercial Segments (1/2) Present Across Price Points, Unit Sizes And Sub-Markets In The SCM 13% Upcoming Projects Carpet Area For Sale 33% Total | 7.55 lakh sq.ft. 5% 22% Ongoing Projects 23% Value Luxury Luxury Value Luxury / Luxury 32%
Slide 24: Diversified Portfolio Under Value Luxury & Luxury Segments (2/2)
Diversified Portfolio Under Value Luxury & Luxury Segments (2/2) Ongoing Projects | Presence across unit sizes and price points No. of offerings 12 Value Luxury Luxury Ticket Size : INR 10-30 mn Ticket Size : INR 30-13 mn 6 4 4 3 2 1 1 300-400 400-500 500-650 650-800 800-950 1000-1300 1300-1500 1800
Slide 25: Strong Expertise In Tenant Settlement In Redevelopment Projects
Strong Expertise In Tenant Settlement In Redevelopment Projects Strong Track Record Of Tenant Settlement Redeveloped houses for 1,011 tenants free-of-cost Preferred Redevelopment Developer Freed up considerable FSI for commercial development As most land parcels in SCM are in the nature of redevelop
Slide 26: Marketing and Sales Strategies
Marketing and Sales Strategies High Engagement Levels Through The Customer Lifecycle Create Network Effect Marketing Team Sourcing Team Customer Centric Approach Identifies target market Interacts with channel Continuous customer engagement groups and uses partners to drive walk- during and after sa
Slide 27: Market Opportunity (1/2)
Market Opportunity (1/2) MMR is the top performer* in overall residential real estate activity Supply Absorption CAGR in value terms over a 10% longer term 30% 30% New launches in 2024 are likely to 70% 70% be almost 2 times as compared to MMR MMR 2X 2021 levels and are expected to Others Others gra
Slide 28: Market Opportunity (2/2)
Market Opportunity (2/2) Redevelopment is a large, ongoing opportunity in SCM SCM is an attractive real estate market 52,000 units 19,642 16,502 • High income, discerning customer base Supply from Cessed buildings - Buildings that are • Aspirational value/premium product positioning redevelopment bu
Slide 29: Experienced Board Of Directors
Experienced Board Of Directors Rajan Meenathakonil Thomas Sujatha R. Thomas Rahul Rajan Jesu Thomas Elizabeth Lavanya Rajan Thomas Promoter, Chairperson & MD Non-Executive Director Whole - Time Director Non-Executive Director Sunil Pant Jitendra Shantilal Mehta Vinod Prabhudas Chitore Dr. Ananta Sin
Slide 30: Senior Key Managerial Personnel
Senior Key Managerial Personnel Shreepal Shah Mukesh Gupta Gopal Barve Chief Financial Officer Company Secretary Chief Engineer Of Subsidiary Of The Company, Accord Estates Private Limited Sunny Soni Jitendra Gupta Vice President & Business Head Head Project Management - Sales
Slide 31: Key Business Strategies
Key Business Strategies surajestate.com
Slide 32: Key Business Strategies
Key Business Strategies 1. Enhance Market Leading Position in SCM 5. Continue to focus on 3. Expand Land Reserves in SCM redevelopment projects through Upcoming projects to consolidate our positioning in and Other MMR Sub-markets asset light model SCM and expand in to Bandra sub-market • Follow flex
Slide 33: Awards and Accolades
Awards and Accolades EUROMONEY REAL ESTATE AWARDS2025 fbi BEST ESI oeeLOr “ BRAND OF THE YEAR NO 4% 2022s A sv, oe, Bo 4 DEVELOPER 3 OFTHE YEAR NO M 2022 Nid x DEVELOPER 3 OFTHE YEAR NO *% 2020 ag stg DEVELOPER DEVELOPER OF THE YEAR SV Crue VED % mapoma Wo 2022 Pose Sant My, midday ae IC Sl Ne Ne SU
Slide 34: Historical Financials
Historical Financials surajestate.com
Slide 35: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement ₹ Crs. Particulars FY26 FY25 FY24 FY23 FY22 Revenue from operations 555.9 549.1 412.2 305.7 272.7 Other income 5.1 4.1 3.5 2.1 1.2 Total income 561.0 553.2 415.7 307.9 273.9 Expenses Operating and project expenses 327.7 461.5 222.0 166 180.7 Changes in inventor
Slide 36: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ Crs. Particulars Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Particulars Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 ASSETS EQUITY AND LIABILITIES Non-current assets Equity a) Equity share capital 23.1 23.1 21.4 15.9 15.9 a) Property, plant and 53.9 22.2 22.5 3.4 3.8 b) Other equity equip
Slide 37: Annexures
surajestate.com Actual sample apartment photographed at ‘The Palette’ Annexures
Slide 38: Ongoing Residential Projects
Ongoing Residential Projects The Palette | Dadar West Ocean Star – I | Dadar West • This project is in Luxury Segment and comprises of • This project is in the Luxury Segment and 2 BHK flats and 3 BHK flats which are sea facing comprises of 3 BHK sea facing apartments apartments with just 2 units pe
Slide 39: Ongoing Residential Projects
Ongoing Residential Projects Suraj Park View I | Dadar West Suraj Eterna | Mahim • A value luxury project with round the clock • This project is in the Value Luxury Segment. It is a security, elevators, podium parking, elegant 20- storey tower and comprises of 1 BHK flats and 2 interiors and more BH
Slide 40: Ongoing Commercial Projects
Ongoing Commercial Projects Suraj One Business Bay | Mahim CCIL Bhavan Phase 2 | Dadar West • This project is a premium commercial segment • Commercial development built exclusively and comprises 182 premium office units along with for The Clearing Corporation of India Ltd. retail, F&B and breakout
Slide 41: Summary of Ongoing Projects
Summary of Ongoing Projects Particulars Remarks Particulars Remarks Area Sold (Lakh Sq Ft) 5.66 Total Unsold Area (Lakh Sq Ft) 1.88 Average Realisation 45,775 Achieved (₹ per sq ft) Average Estimated Realisation Of 58,470 Unsold Area (₹ Per Sq Ft) Collections Received (₹Cr) 1,589 Estimated GDV of un
Slide 42: Completion Targets for Ongoing Projects
Completion Targets for Ongoing Projects Balance receivables of ₹ 1,004 Cr from sold area of ongoing projects GDV of ₹ 1,100 Cr from unsold area of ongoing projects Total Balance receivables of ₹ 2,105 Cr to flow from FY26-FY31E 1 FY 31 FY 29 FY 27
Slide 43: Ongoing Projects
Ongoing Projects Completio Collectio Sale Sales Avg Balance Sr. Redevelo n Date (As Develop Area Unsold ns Project Name Location Type Segment Carpet Achieve Realisati Receiva No. pment Filed with able Sold Area Receive Area d on bles RERA) Area d LSF LSF LSF LSF Cr. Rs./SF Cr. Cr. Redevelop 1 Vitali
Slide 44: Strong Project Pipeline and Cashflow Trends
Strong Project Pipeline and Cashflow Trends Estimated Carpet Area Sr. No. Project Name Location Type Segment for sale* (lakh sq.ft) 1 JRU Property Byculla (E) Residential Value Luxury/ Luxury 0.21 2 Gudekar House, Irani Building and Ratnabhumi Bld Dadar (W) Residential Value Luxury 0.33 3 Madonna Wi
Slide 45: Land Reserves
Land Reserves Plot Area Company’s /Entity’s Leased/ Name of company/entity that is the Sr. No. Location effective stake in the Owned/Developmen developer of the project project (%) t Rights Square Meters 1 C.T.S.No.918 Mount Mary, Hill Road, Bandra (W) Accord Estates Pvt. Ltd. 100 Leasehold Rights 1
Slide 46: Completed Projects
Completed Projects Company's / Name of company/entity respective Occupation certificate Developed Area Type and that is the developer of entity's stake in Date of Occupation for all floors Sr. No Project Name Location project configuration the project certificate (square (%) (square feet) Yes/ No me
Slide 47: Completed Projects
Completed Projects Company's / Name of respective Occupation certificate for company/entity that Developed Area Date of Type and entity's stake in all floors Sr. No Project Name Location is the developer of project Occupation configuration the project certificate (square (%) (square feet) Yes/ No me
Slide 48: Completed Projects
Completed Projects Company's / Name of company/entity respective Occupation certificate Developed Area Date of Sr. Type and that is the developer of the entity's stake in for all floors Project Name Location project Occupation No configuration project certificate (%) (square meter) (square feet) Yes
Slide 49: For Further Information, Please Contact
For Further Information, Please Contact Company: Investor Relation Advisor: Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd. CIN - L99999MH1986PLC040873 CIN - U74140MH2010PTC204285 suraj@surajestate.com Mr. Rahul Agarwal www.surajestate.com rahul.agarwal@sgapl.net +91- 9821438864