Suraj Estate IPO Financial Analysis
Tanushree Jaiswal
Tanushree Jaiswal
18th December 2023 - 07:16 pm
What Suraj Estate Do?
In the South Central Mumbai area, the business builds both residential and commercial real estate.
For the construction services required for its projects, the firm is entirely dependent on outside contractors and does not offer any internal construction services.
In the South-Central Mumbai area, Suraj Estate Developers Limited has completed forty-two (42).
The firm has sixteen (16) forthcoming projects and thirteen (13) existing projects in addition to the completed ones.
Details of the organizational structure
(Source:RHP)
Sources of Revenue Contribution
Financial Summary
Analysis
Assets Analysis: The total assets have increased from ₹792.86 Crore in 2021 to ₹994.73 Crore in 2022 and further to an undisclosed value for 2023 (as of June 30). The consistent growth in assets indicates the company's expansion and potential for increased operational scale.
What's Good: Increasing assets suggest business growth and potential for higher revenue generation.
What's Not Good: The absence of the specific asset value for 2023 makes it challenging to assess the complete picture.
Revenue
Revenue has shown an increasing trend from ₹244.27 Crore in 2021 to ₹307.89 Crore in 2022. However, the revenue for 2023 (as of June 30) is not provided.
What's Good: Growing revenue indicates business performance and market demand.
What's Not Good: Lack of revenue data for 2023 hinders a comprehensive analysis of the company's recent performance.
Profit After Tax (PAT)
PAT has fluctuated, increasing from ₹6.28 Crore in 2021 to ₹26.5 Crore in 2022 but decreasing to an undisclosed value for 2023 (as of June 30).
What's Good: The significant increase in PAT from 2021 to 2022 is positive.
What's Not Good: The undisclosed PAT for 2023 raises concerns about the company's current profitability status.
Net Worth
Net worth has shown a general upward trend from ₹29.15 Crore in 2021 to ₹86.11 Crore in 2023 (as of June 30).
What's Good: Increasing net worth reflects positive shareholder equity and financial health.
What's Not Good: Without specific values for 2022 and 2023, a detailed trend analysis is challenging.
Reserves and Surplus
Reserves and surplus have grown from ₹22.94 Crore in 2021 to ₹70.29 Crore in 2023 (as of June 30).
What's Good: Increasing reserves and surplus indicate retained earnings and financial stability.
What's Not Good: Specific values for 2022 and 2023 are needed for a comprehensive analysis.
Total Borrowing
Total borrowing has fluctuated but remains within a close range from ₹600.48 Crore in 2021 to ₹598.5 Crore in 2023 (as of June 30).
What's Good: Maintaining a stable total borrowing level suggests prudent financial management.
What's Not Good: Fluctuations in borrowing levels may need closer examination to understand the reasons behind the changes.
Key Performance Indicator
|
KPI |
Values |
|
P/E (x) |
35.64 |
|
Post P/E (x) |
49.81 |
|
Market Cap (₹ Cr.) |
1597 |
|
ROE |
58.18% |
|
ROCE |
21.93% |
|
Debt/Equity |
8.31 |
|
EPS (Rs) |
10.1 |
|
RoNW |
58.18% |
Strengths & Weakness of Suraj Estate
Suraj Estate Developers IPO Peer Comparison
|
Company Name |
EPS (Basic) |
EPS (Diluted) |
NAV (per share) |
P/E (x) |
RoNW (%) |
|
Suraj Estate Developers Limited |
10.1 |
10.1 |
22.49 |
|
58.18 |
|
Oberoi Realty Limited |
52.38 |
52.38 |
335.81 |
20.44 |
16.83 |
|
Sunteck Realty Limited |
0.1 |
0.1 |
198.45 |
3,724.50 |
0.62 |
|
Keystone Realtors Limited |
7.67 |
7.67 |
146.59 |
79.58 |
6.29 |
|
Shriram Properties Limited |
3.88 |
3.88 |
70.58 |
17.02 |
5.63 |
|
Mahindra Lifespace Developers Limited |
6.56 |
6.56 |
116.75 |
73.91 |
5.64 |
|
D B Realty Limited |
-2.94 |
-2.94 |
60.69 |
-25.85 |
-5.93 |
|
Hubtown Limited |
4.16 |
4.16 |
171.03 |
10.93 |
2.03 |
|
Average |
10 |
10 |
140 |
557 |
11 |
Analysis
-
The EPS (basic) and the EPS (Diluted) are above Average of peers.
-
The NVA is way lower than peers average.
-
The RoNW is way above not only the average of peers but also of the highest in comparison with peers.
Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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