Buy Suraj Estate Developers; target of Rs 636: Profitmart

Profitmart is bullish on Suraj Estate Developers has recommended buy rating on the stock with a target price of Rs 636 in its research report dated June 28, 2024.

Broker Research

July 02, 2024 / 14:32 IST

Buy

26 Aug, 2025 12:21

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Profitmart research report on Suraj Estate Developers

Suraj Estate Developers Ltd. is involved in the real estate business since 1986 and develop real estate across the residential and commercial sectors in South Central Mumbai region. It is focused primarily on value luxury, luxury segments and commercial segment. They are now venturing into residential real estate development in Bandra sub-market. Their expertise lies is in the redevelopment of tenanted properties. They identify cessed/ non cessed properties with existing tenants, and tie up with the landlords of such tenanted properties by entering into a development agreement or on outright purchase basis through conveyance deed Since incorporation, they have completed 42 projects with a developed area of more than 1,046,543.20 square feet in the South- Central Mumbai region. In addition, they have 13 Ongoing Projects with a developable area of 20,34,434.40 square feet and saleable carpet area 6,09,928 square feet and 16 Upcoming Projects with an estimated carpet area of 7,44,149 square feet. In their residential portfolio, they are present across the “value luxury” and “luxury” segments across multiple price points with unit values ranging from Rs 1 crs to Rs 13 crs.

Outlook

The company management is confident of improving its profit margins in going ahead via operational efficiency, higher business from new projects and better pricing due to operating leverage benefits ahead Looking at Suraj Estate Developers steady financial track record, strong business domain and dominant market share and strong promoters we expect the stock to get re rated in future. Hence we believe that the Suraj Estate Developers stock should be purchased at the current price for a price target of around Rs 636 over the next 12 to 15 months.

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