The Mumbai developer’s consolidated net profit dropped to ₹23.06 crore in the September quarter, despite higher income, as expenses rose sharply.
Suraj Estate Developers reported a sharp drop in quarterly profit even as income rose, after higher costs squeezed margins in the September quarter. The Mumbai-based property developer said consolidated net profit fell to ₹23.06 crore from ₹33.09 crore a year earlier, according to its regulatory filing.
The company’s total income increased to ₹171.08 crore from ₹145.42 crore in the same period last year, but expenses climbed much faster, reaching ₹140.12 crore from ₹101.33 crore. The rise in costs outweighed the improved top line and left the group with lower earnings for the quarter.
The results were approved at a board meeting on 31 October, when Suraj Estate also signed off on its unaudited standalone and consolidated financial statements for the quarter and half-year ended 30 September 2026, along with the statutory auditors’ limited review. The company, which is based in Mumbai, has positioned itself as one of the country’s leading real estate firms.
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