Suraj Estate Developers Limited · NSE:SURAJEST
Suraj Estate Developers — Q3 FY2026 Earnings Presentation
47 slides from Suraj Estate Developers's earnings presentation, Jan 29, 2026
Slide 1: Exchange filing cover letter
January 29, 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) 21% Floor, Dalal Street Mumbai —400 051 Mumbai — 400 001 NSE Symbol: SURAJEST BSE Scrip Code: 544054 Dear Sir/ Madam, Sub: I
Slide 2: Investor Presentation January 2026
SURA] Investor Presentation January 2026 surajestate.com
Slide 3: Safe Harbor
Safe Harbor (O mmmmm—— 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
Slide 4: Message from the Director
Message from the Director Mr. Rahul Thomas Whole-Time Director Commenting on the performance for Q3 & 9MFY26, Mr. Rahul Thomas, Whole Time Director, Suraj Estate Developers, said, “Suraj One Business Bay has witnessed a strong traction, with ~40,000 sq. ft. of sales achieved within 45 days of launch
Slide 5: New Launches in Q3FY26
New Launches in Q3FY26 i ' One Business Bay - Key Highlights ' ' SURA] ' Launched: Mid-November 2025 ' ' ' Sales: 40,000 sq. ft. sold within 45 days ' ' ' GDV Achieved: 3200 crore out of total estimated 1,200 crore ' ' Demand Indicator: Strong traction for ownership-led Grade-A ' ' offices in South
Slide 6: Q3 & 9MFY26 Financial and Operational Highlights
Q3 & 9MFY26 Financial and Operational Highlights surajestate.com
Slide 7: Highest Ever Operational Performance For Q3 & 9MFY26
Highest Ever Operational Performance For Q3 & 9MFY26 Backed By Commercial Launch Sales Area (Sq. Ft) @ Sales Value (X Cr) +211.2% 1 : 103,225 +136.9% 3 : 51,826 1 253 | 11,074 : 53 : 66,288 62,473 34,875 ! 1 1 146 153 1 25,848 1 | | 107 ) 16,656 16,524 1 65,368 81 | 349 24,171 ! &0 1 102 15,736 ! 1
Slide 8: Q3 & 9MFY26 Financial Performance
Q3 & 9MFY26 Financial Performance SURA] Total Income (X Cr) EBITDA (X Cr] PAT (X Cr] =R 182 55 25 48 [ ~ 20 > o M o Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Total Income (% Cr) EBITDA (T Cr) PAT (% Cr) 460 176 m 82 80 416 [ o > o = [} 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 Note: Total income and
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement | In¥Crs Particulars Q3FY26 Q3FY25 Y-0-Y(%) Q2FY26 Q-0-Q (%) Revenue from operations 1801 169.8 144.6 4571 412.6 Other income 14 20 0.9 30 a5 Total income 181.5 171.8 6% 145.4 25% 460.0 416.1 % Expenses Q3FY26 total income increased 25% QoQ to Operating and proje
Slide 10: 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 L years of projects sq.ft. predominantly ongoing upcoming experience in completed across developed in Micro projects in the projects inthe understanding sp
Slide 11: One of the Market Leaders in Redevelopment Projects in SCM
One of the Market Leaders in Redevelopment Projects in SCM* SURA] Sub-markets of South Central Mumbai (SCM) Value Luxury 1BHK and compact2 . e Of The Market Leaders In Redevelopme 263 | Projects Launched in SCM sub-markets l | 160 (~61%) 103 (~39) Prabhadevi Redevelopment Projects New Projects [oR o
Slide 12: Redevelopment Expertise
Redevelopment Expertise SURA] Time Lines Zero Date 4-6 Months 3 Months 3 Months 3 Months 3-4 Months 3 Months l‘n o (o2 M(o M(o< Mo Mo M~ Acquisition of land by Obtaining 10D for Obtaining CC and OC and Handover of . . way of Conveyance/ the project RERA registration Possession Identification Of Land
Slide 13: SCM | A Lucrative Micro Market in Mumbai (1/3)
SCM | A Lucrative Micro Market in Mumbai (1/3) Maharashtra SURA] @ RESIDENTIAL PROJECTS Na Park @ COMMERCIAL PROJECTS SL Raheja Hospital - sz Multispeciality. ) e a QT&; Lands End, M )m“%al a Sion'Koliw A 8., IDHARAVI /7‘ !i) . . T Ongoing Projects el , MAHI Al i 3 §O L] L Ram Ashraya 8. X: Developa
Slide 14: SCM | A Lucrative Micro Market in Mumbai (2/3)
SCM | A Lucrative Micro Market in Mumbai (2/3) : : SURA]J BANDRA . RESIDENTIAL PROJECTS i @ COMMERCIAL PROJECTS t ° v ° Koliwac Upcoming Projects Estimated Carpet Area 11.57 Lakh Sq. Ft. \Worli Koliwada .~ /; Dadat (Wes(em) Agar Bazaar Dadar, Eas‘ RRAB HADEVI™ WORLILS# ) Parel Nalgacn P, bhadevu : P
Slide 15: 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 16: Our Journey Spanning Over 39 Years
Our Journey Spanning Over 39 Years SURA] 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 1L (W) sector bank B lClCl Bank offic
Slide 17: Consultant and Contractor Relationships
Mangirish Dadar Tranquil Bay Consultant and Contractor Relationships "=l Architect 3" CHANDRASEKHAR Hafeez ‘:\\\ ANJAYv PURI Contractor v LLP JW CONSULTANTS ARCHITECTS SLING il il ENGINEERING CONSULTANGY SERVICES PRIVATE LIMITED SSC Seen S-Struct QD Kelkar Designs Pyt Ltd. CCIL Bhavan Phase | Upto 6
Slide 18: Comparison of Various Business Models in MMR Region
Comparison of Various Business Models in MMR Region Redevelopment of Tenanted Properties Redevelopment of Society Parameters (Conveyance/ DA) Under DCPR 33(7) Under DCPR 33(7) B Vacant Land- Normal Development Land Status Conveyance/ DA DA Conveyance /JDA Upfront Capital Requirement Moderate Low Hig
Slide 19: 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 RierkEHpgIeics| SStisteay) Strong Expertise
Slide 20: Established Residential Real Estate Brand in SCM
Established Residential Real Estate Brand in SCM SURA] Leading Market Position & Ability To Sell During Constru n Phase 60% Ongoing Residential Projects 16% 13% 1% In terms of units Project [)S:J:f[,%e‘fstil e Developer RS Developabl Sale Carpet AreaSold ~ Unsld Sales Avg Collections ,, - Project Se
Slide 21: Diversified Portfolio Under Value Luxury, Luxury & Commercial (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 1% : Upcoming Projects Carpet Area For Sale Total | 7.55 lakh sq.ft. - Oongoing Projects 25% - Value Luxury - Luxury Value Luxury/ Luxury B Commer
Slide 22: Diversified Portfolio Under Value Luxury & Luxury Segments (2/2)
Diversified Portfolio Under Value Luxury & Luxury Segments (2/2) SURA] \ 1 i 1 1 Value Luxury ! : Luxury | : Ticket Size : INR 10-30 mn : \ Ticket Size : INR 30-13 mn 1 1 1 0 1 1 0 1 6 1 ! 1 1 : 1i 4 4 1 N 1 1 N 3 1 1 h] 2 [ 1 1 1 1 . : 1 1 \\ 300-400 400-500 500-650 650-800 // \\800-950 1000-1300 1
Slide 23: Strong Expertise In Tenant Settlement In Redevelopment Projects
Strong Expertise In Tenant Settlement In Redevelopment Projects SURA] 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
Slide 24: Marketing and Sales Strategies
Marketing and Sales Strategies SURA] 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 sale and delivery promotional tools to ins at the site strengthens the b
Slide 25: Market Opportunity (1/2)
Market Opportunity (1/2) SURA] Supply Absorption CAGR in value terms over a 10% longer term New launches in 2024 are likely to be almost 2 times as compared to RMME = MMR 2021 levels and are expected to " EliEs = Others gradually increase year-on-year post 2023 (No. Of Units) One of the biggest real
Slide 26: Market Opportunity (2/2)
Market Opportunity (2/2) SURA] 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 redevelopm
Slide 27: 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 Dr. Ananta Singh Raghuvanshi Dr. Satyendra Shridhar Nayak Sunil Pant Jit
Slide 28: Senior Key Managerial Personnel
Senior Key Managerial Personnel SURA] _shrgepal_ 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 29: Key Business Strategies
Key Business Strategies surajestate.com
Slide 30: Key Business Strategies
Key Business Strategies SURA] 1. Enhance Market Leading Position in SCM 5. Continue to focus on 3. Expand Land Reserves in SCM redevelopment projects thr 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 31: Awards and Accolades
Awards and Accolades SURA] \ i EUROMONEY AWARDS 2025 INDIA BESTRESDENTIAL DEVELOPER K e 4 - 8.5 PROMISING V4 ISYLEIAE & DEVELOPER N OF LA THE YEAR \‘: v OF THE YEAR \‘: |, OFTHEVEAR N 2020 A o o NS N () o 2022 0v o A -h ;g o () o () A X K- 12 0 DEVELOPER & DEVELOPER 4. DEVELOPER N OF THE YEAR Ned @
Slide 32: Historical Financials
Historical Financials surajestate.com
Slide 33: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement X Crs. Particulars FY25 FY24 FY23 FY22 FY21 Revenue from operations 5491 412.2 305.7 272.7 240 Other income 41 &5 21 12 4 Total income 553.2 415.7 307.9 273.9 244 Expenses Operating and project expenses 4615 222.0 166 180.7 164.2 Changes in inventories of const
Slide 34: Consolidated Balance Sheet
Consolidated Balance Sheet X Crs. L Particulars Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Particulars Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 ASSETS EQUITY AND LIABILITIES oD e s e E)quE"tyity share h capita | 231b 2.4 k 159 . 159 . 6.4 X a) Property, plant and et clLEelh - 235 225 34 38 49 b)oogher equity == 5
Slide 35: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement X Crs. Particulal FY25 FY24 FY22 FY21 CASH FLOW FROM OPERATING ACTIVITIES Profit before taxes 1361 93.9 432 36.2 9.0 Adjustments for Interest expenses/income, depreciation 67.6 1423 106.7 938 803 Operating profit/ (loss) before working capital changes 203.7 236.1 149
Slide 36: Annexures
Annexures ,am8|bd 8y, 10 paydoib010yd 1UsWLIDdD 3jdW DS [DNIDY o =t iy) B SURAI n 8 o© 5 [l
Slide 37: Ongoing Residential Projects
Ongoing Residential Projects SURA] The Palette | Dadar West Ocean Star - | | Dadar West * This project is in Luxury Segment and comprises of * This projectis in the Luxury Segment and 2 BHK flats and 3 BHK flats which are sea facing comprises of3 BHK sea facing apartments apartments with just 2 unit
Slide 38: Ongoing Residential Projects
Ongoing Residential Projects SURA] Suraj Park View | | Dadar West Suraj Eterna | Mahim Avalue 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 of1 BHK flats and 2 interiors and more BH
Slide 39: Summary of Ongoing Projects
Summary of Ongoing Projects SURA] Particulars Remarks Particulars Remarks (e Sl (Latiine) (7) =L Total Unsold Area (Lakh Sq Ft) 214 Average Realisation . 45,737 peliEee (K per Se)id) Average Estimated Realisation Of 57269 Unsold Area (X Per Sq Ft) " Collections Received (XCr) 1,485 Balance Receivabl
Slide 40: Completion Targets for Ongoing Projects
Completion Targets for Ongoing Projects I SURA] GDV of X 1,226 Cr from unsold area of ongoing projects Balance receivables of X 2,215.57 Cr to flow from FY26-FY31E from area sold and balance unsold area SURAJ SURAJ : AUREVA SURAJ EMMANUEL At G | € %_7 Ocean star SURAJ ETERNA
Slide 41: Ongoing Projects
Ongoing Projects Completio EEnes q Redevelop n Date (As Sale Carpet Unsold Sales Avg Collections Project Name Location Type Segment ERG Filed with Developabl Area Sold A Aarites) |reefesien| Peeveg] Receivable| e Area s RERA) LSF LSF LSF Rs/SF cr. cr. 1 o Vitalis ) - Mahim (W)|Residential|Value Luxu
Slide 42: Strong Project Pipeline and Cashflow Trends
Strong Project Pipeline and Cashflow Trends S SURA] Sr. No. Project Name Location Segment Estimated Carpet Area 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 033 3 Madonna
Slide 43: Land Reserves
Land Reserves SURA] Plot Area ’ ’ Sr. No. Location Name:efvc;lr::::r;yf/;::ip{:j:?:: [Etbe ;foer:t'?::itsa{ini:t{hse Ownedl-/;aesjgl{apmen project (%) t Rights Square Meters 1 C.T.5.N0.918 Mount Mary, Hill Road, Bandra (W) Accord Estates Pvt. Ltd. 100 Leasehold Rights 1173.57 2 C.T.S.N0.930 Mount Ma
Slide 44: Completed Projects
Completed Projects S SURA] Company's / Name of company/entity respective Dol A Occupation certificate Type and that is the developer of ity's stake in veloped Area Date of Occupation for all floors EoieckNae configuration j project certificate (%) (square een) (square feet) Yes/No 1 Louisandra Dadar
Slide 45: Completed Projects
Completed Projects S SURA] Company's/ Name of respective TN, Occupation certificate for . Name Project . Location am— R company/entity is the developerthat of nity's e stake in P Dateof Occupation _iifiers 9 the project s certificate (%) S (square feet) Yes/No 19 | Rahulm Dadar (W) | Residential SUI
Slide 46: Completed Projects
Completed Projects Company's / Name of company/entity Developed Area . Name Project Location Type ¥ andp that is the developer < of the < project (PERCE Occupation for all floors configuration project ertificate (%) (square meter) (square feet) Yes/ No 31 | Gloriosa Apartments Dadar (W) Residential
Slide 47: For Further Information, Please Contact
For Further Information, Please Contact SGA Strategic Growth Advisors Company: Investor Relation Advisor: Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd. CIN - L99999MHI1986PLC040873 CIN - U74140MH2010PTC204285 suraj@surajestate.com Mr. Rahul Agarwal www.surajestate.com rahul.aga
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