Mumbai, 5th December 2024: Suraj Estate Developers, a leading real estate player focused on the South-Central Mumbai (SCM) market has announced the acquisition of a vacant parcel of land measuring approx.1,464 sq. Meters. The said plot of land upon development will have an estimated RERA Carpet area of 1.03 Lacs square feet. The new plot is located adjacent to an existing vacant land acquired earlier by the company, also for the development of a commercial building The said two plots upon amalgamation will have combined plot area of approximately 3,000 square meters which is estimated to have sale RERA Carpet area of 2.10 lacs square feet with an estimated GDV of 1,000 Crores.
Situated in the heart of the city, the location offers brilliant connectivity with its close proximity to railway stations and upcoming metro line, along with upcoming new flyover connecting Senapati Bapat Marg to western express highway. Ensuring seamless commuting.
Commenting on this, Rahul Thomas, Executive Director, Suraj Estate Developers, said, “This acquisition fulfils the objectives of the funds raised through issue of equity shares and share warrants on preferential basis amounting to Rs.343 crore. Our operational performance in the last quarter has also been exceptional, marked by a 14% increase in sales volume and a 10% rise in sales realization. Looking to the growing demand for commercial spaces given the strategic location of the land, we are confident about the success of the project.”
In the last quarter, the company achieved an 88% surge in PAT, along with a 26% Y-O-Y growth in pre-sales for Q2FY25. Collections grew by 89% Y-O-Y in Q2FY25 and 46% Y-O-Y in H1FY25, driven by increased sales and collections from the commercial project CCIL.
About Suraj Estate Developers:
Suraj Estate Developers has been a prominent player in the real estate industry since 1986, specializing in the development of residential and commercial properties across South-Central Mumbai. The company has built a strong presence in key markets such as Mahim, Dadar, Prabhadevi, and Parel, offering a portfolio that caters to both value luxury and luxury segments. With a reputation for excellence, Suraj Estate Developers is now expanding its footprint into the Bandra sub-market, further strengthening its position in Mumbai’s premium real estate sector.
To date, Suraj Estate Developers has successfully delivered 42 prestigious projects, significantly contributing to the region’s urban development. Focused on high-end residential and commercial spaces, the company currently has 13 ongoing projects with a total developable area of over 20.3 lakh square feet. Additionally, Suraj Estate Developers has 18 upcoming projects, set to add approximately 9 lakh square feet of premium living and commercial space to its growing portfolio.
With unmatched expertise in delivering exceptional real estate in South-Central Mumbai, Suraj Estate Developers continues to set new benchmarks in luxury living.