WEBSITE BSE:543218 NSE: SBGLP Inc. Year: 2008 Industry: Construction - Real Estate My Bucket: Add Stock
Last updated: 15:31
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1. Business Overview
Suratwwala Business Group Ltd. operates in the Construction - Real Estate sector in India. Its core business involves real estate development and construction. This typically encompasses acquiring land parcels, designing and planning various types of properties (e.g., residential, commercial, retail), undertaking their construction, and subsequently marketing and selling these developed units to customers. The company primarily makes money through the sale of developed properties, booking advances, and project completions. It may also generate revenue from construction contracts or rental income from commercial properties held for investment.
2. Key Segments / Revenue Mix
Without specific financial data, the exact revenue mix is not available. However, based on its industry, Suratwwala Business Group Ltd. likely operates primarily in segments such as:
Residential Development: Construction and sale of apartments, villas, and plotted developments.
Commercial Development: Construction and leasing/sale of office spaces, retail outlets, and shopping complexes.
Potentially, other segments like hospitality or integrated townships, depending on its project portfolio.
3. Industry & Positioning
The Indian real estate industry is highly fragmented, cyclical, and largely driven by economic growth, urbanization, and demographic factors. It features a mix of large national players, regional developers, and numerous smaller, local entities. The industry is also heavily influenced by government policies and regulations (e.g., RERA, environmental clearances). Without specific market share data or project scale, Suratwwala Business Group Ltd. is likely positioned as a regional developer within its operational geographies in India, competing on factors such as location, quality of construction, project amenities, and pricing.
4. Competitive Advantage (Moat)
Without specific information, it is challenging to identify a strong, durable competitive advantage for Suratwwala Business Group Ltd. Common moats in real estate include:
Strategic Land Bank: Owning desirable land parcels in high-growth areas.
Brand Reputation: A strong brand built on trust, quality, and timely delivery.
Execution Capabilities: Efficient project management and construction expertise.
Financial Strength: Access to capital at competitive rates.
Regulatory Expertise: Ability to navigate complex approval processes efficiently.
Many real estate companies compete based on location, pricing, and project features, which are often not sustainable moats.
5. Growth Drivers
Key factors that could drive growth for Suratwwala Business Group Ltd. over the next 3-5 years include:
Urbanization and Population Growth: Continued migration to urban centers drives demand for housing and commercial spaces.
Rising Disposable Incomes: Increased purchasing power leads to higher demand for quality real estate.
Government Initiatives: Policies promoting affordable housing, infrastructure development, and ease of doing business can stimulate the sector.
Favorable Interest Rates: Lower home loan interest rates make property more accessible and affordable.
Successful Project Launches: Timely completion and sales success of new projects.
6. Risks
Cyclical Nature of Real Estate: The industry is highly sensitive to economic downturns, impacting demand and property prices.
Interest Rate Fluctuations: Rising interest rates can increase borrowing costs for the company and reduce affordability for homebuyers.
Regulatory & Policy Changes: Amendments in RERA, environmental laws, taxation, or land acquisition policies can impact project timelines and profitability.
Land Acquisition Challenges: Difficulty in acquiring suitable land at reasonable costs, and delays in obtaining necessary approvals.
Funding & Liquidity Risk: Dependence on debt financing, and potential challenges in securing timely funding for projects.
Intense Competition: High competition from other regional and national developers can put pressure on margins.
Project Execution Risk: Delays in construction, cost overruns, or quality issues can harm reputation and profitability.
7. Management & Ownership
In Indian companies, management is often promoter-led, meaning the founding family or individuals hold significant ownership stakes and typically lead the company. While specific details about the promoters and their quality are not available, their strategic vision and execution capabilities are crucial for the company's success. Ownership is likely concentrated among the promoter group, which is common in India.
8. Outlook
Suratwwala Business Group Ltd. operates in a sector with significant long-term potential driven by India's demographic advantages and ongoing urbanization. Should it successfully execute projects, manage its land bank efficiently, and navigate regulatory complexities, it could benefit from sustained demand in its operational regions. However, the inherent cyclicality of the real estate market, coupled with risks associated with funding, regulatory changes, and intense competition, present significant challenges. Its future performance will largely depend on its ability to manage these risks, secure timely project approvals, and maintain a strong reputation for quality and delivery amidst a dynamic market environment.
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Market Cap ₹455 Cr.
Stock P/E 41.2
P/B 4.9
Current Price ₹26.2
Book Value ₹ 5.4
Face Value 1
52W High ₹49.2
Dividend Yield 0.38%
52W Low ₹ 18.4
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 18 | 16 | 21 | 9 | 2 | 3 | 21 | 16 | 26 | 42 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 |
| Total Income | 19 | 17 | 21 | 9 | 2 | 4 | 22 | 17 | 26 | 42 |
| Total Expenditure | 7 | 7 | 11 | 3 | 2 | 3 | 13 | 9 | 15 | 27 |
| Operating Profit | 11 | 9 | 10 | 6 | 1 | 0 | 9 | 8 | 11 | 16 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 11 | 9 | 10 | 6 | 1 | 0 | 9 | 7 | 11 | 15 |
| Provision for Tax | 3 | 2 | 5 | 1 | 1 | 0 | 2 | 2 | 3 | 4 |
| Profit After Tax | 8 | 7 | 6 | 4 | 0 | 0 | 7 | 5 | 8 | 11 |
| Adjustments | -0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 8 | 7 | 6 | 4 | 0 | 0 | 7 | 5 | 8 | 11 |
| Adjusted Earnings Per Share | 0.5 | 0.4 | 0 | 0.2 | 0 | 0 | 0.4 | 0.3 | 0.5 | 0.6 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 1 | 62 | 72 | 36 | 105 |
| Other Income | 1 | 0 | 1 | 2 | 1 |
| Total Income | 2 | 62 | 73 | 37 | 107 |
| Total Expenditure | 4 | 32 | 33 | 21 | 64 |
| Operating Profit | -3 | 30 | 40 | 16 | 44 |
| Interest | 4 | 3 | 2 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -7 | 27 | 38 | 15 | 42 |
| Provision for Tax | 4 | 6 | 10 | 4 | 11 |
| Profit After Tax | -11 | 21 | 28 | 11 | 31 |
| Adjustments | 0 | 0 | -0 | -0 | 0 |
| Profit After Adjustments | -11 | 21 | 28 | 11 | 31 |
| Adjusted Earnings Per Share | -0.6 | 1.2 | 0.2 | 0.6 | 1.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | 230% | 0% | 0% |
| Operating Profit CAGR | -60% | 0% | 0% | 0% |
| PAT CAGR | -61% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -39% | 7% | 32% | NA% |
| ROE Average | 17% | 1428% | 1071% | 1071% |
| ROCE Average | 13% | 50% | 35% | 35% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | -10 | 11 | 58 | 69 |
| Minority's Interest | 0 | 1 | 1 | 1 |
| Borrowings | 13 | 5 | 5 | 65 |
| Other Non-Current Liabilities | 1 | 1 | 0 | 1 |
| Total Current Liabilities | 110 | 102 | 62 | 50 |
| Total Liabilities | 114 | 120 | 127 | 185 |
| Fixed Assets | 1 | 1 | 1 | 21 |
| Other Non-Current Assets | 36 | 13 | 3 | 10 |
| Total Current Assets | 77 | 106 | 122 | 154 |
| Total Assets | 114 | 120 | 127 | 185 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 1 | 6 |
| Cash Flow from Operating Activities | -15 | -10 | 0 | -5 |
| Cash Flow from Investing Activities | -0 | 25 | -2 | -35 |
| Cash Flow from Financing Activities | 15 | -14 | 6 | 35 |
| Net Cash Inflow / Outflow | -0 | 0 | 5 | -4 |
| Closing Cash & Cash Equivalent | 1 | 1 | 6 | 1 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.62 | 1.22 | 0.16 | 0.63 |
| CEPS(Rs) | -0.61 | 1.23 | 0.16 | 0.66 |
| DPS(Rs) | 0 | 0 | 0 | 0.1 |
| Book NAV/Share(Rs) | -0.58 | 0.64 | 0.33 | 3.96 |
| Core EBITDA Margin(%) | -457.86 | 48.22 | 54.62 | 39.85 |
| EBIT Margin(%) | -357.09 | 48.21 | 54.95 | 43.37 |
| Pre Tax Margin(%) | -872.77 | 44.07 | 52.29 | 42.91 |
| PAT Margin (%) | -1355.97 | 33.98 | 38.6 | 30.98 |
| Cash Profit Margin (%) | -1326.85 | 34.29 | 39.11 | 32.22 |
| ROA(%) | -9.46 | 18.1 | 22.49 | 7.07 |
| ROE(%) | 0 | 4186.13 | 80.58 | 17.44 |
| ROCE(%) | -8.59 | 79.54 | 57.39 | 13.05 |
| Receivable days | 368.82 | 4.35 | 19.01 | 56.63 |
| Inventory Days | 0 | 509.9 | 529.78 | 1216.98 |
| Payable days | 0 | 76.7 | 112.36 | 247.94 |
| PER(x) | 0 | 15.18 | 547.42 | 54.94 |
| Price/Book(x) | -29.76 | 28.93 | 261.04 | 8.69 |
| Dividend Yield(%) | 0 | 0 | 0 | 0.29 |
| EV/Net Sales(x) | 432.77 | 5.66 | 210.18 | 18.78 |
| EV/Core EBITDA(x) | -131.95 | 11.66 | 378.98 | 42.09 |
| Net Sales Growth(%) | 0 | 7747.67 | 15.63 | -50.52 |
| EBIT Growth(%) | 0 | 1159.56 | 31.78 | -60.95 |
| PAT Growth(%) | 0 | 296.66 | 31.33 | -60.29 |
| EPS Growth(%) | 0 | 297.12 | -86.98 | 294.15 |
| Debt/Equity(x) | -4.26 | 2.82 | 0.65 | 1.06 |
| Current Ratio(x) | 0.7 | 1.04 | 1.96 | 3.08 |
| Quick Ratio(x) | 0.05 | 0.03 | 0.27 | 0.45 |
| Interest Cover(x) | -0.69 | 11.63 | 20.69 | 96.09 |
| Total Debt/Mcap(x) | 0.14 | 0.1 | 0.02 | 0.12 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 | 73.39 |
| FII | 0.01 | 0.01 | 0.1 | 0.03 | 0.3 | 0.05 | 0.01 | 0 | 0.01 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.6 | 26.6 | 26.5 | 26.58 | 26.3 | 26.56 | 26.6 | 26.61 | 26.6 | 26.61 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.27 | 1.27 | 12.73 | 12.73 | 12.73 | 12.73 | 12.73 | 12.73 | 12.73 | 12.73 |
| FII | 0 | 0 | 0.02 | 0 | 0.05 | 0.01 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.46 | 0.46 | 4.6 | 4.61 | 4.56 | 4.61 | 4.61 | 4.61 | 4.61 | 4.61 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.73 | 1.73 | 17.34 | 17.34 | 17.34 | 17.34 | 17.34 | 17.34 | 17.34 | 17.34 |
* The pros and cons are machine generated.
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