Suraj Estate Developers Limited has acquired a prime land parcel in Shivaji Park, Dadar (West), Mumbai, for ₹4.75 crore. The company plans to develop a luxury residential project, leveraging FSI benefits under Regulation 33(7) and potential clubbing schemes as per Regulation 33(7)(22) of the DCPR 2034. The project will feature a saleable RERA carpet area of approximately 0.16 lakh square feet and an estimated gross development value (GDV) of ₹80 crore. Located near the upcoming Siddhivinayak Metro Station, the development will offer 2 BHK and 3 BHK apartments with scenic sea views.
Established in 1986, Suraj Estate Developers specializes in residential and commercial real estate in South Central Mumbai. The company holds a dominant 61% market share in redevelopment projects in the region and has redeveloped over 1,011 homes. It accounts for 16% of total unit absorption and 15% of total value absorption among top developers in the area. With a strong focus on the luxury and value-luxury segments, the company has successfully completed 42 projects spanning over 10 lakh square feet, with 13 ongoing projects covering 6.1 lakh square feet.
Suraj Estate Developers is planning 18 new projects, including key developments in Bandra and Mahim. The company has effectively reduced its debt from ₹650 crore in FY22 to ₹450 crore in H1FY25, using IPO proceeds for debt repayment and land acquisitions. The stock has risen 17.6% from its 52-week low and currently holds a price-earnings (PE) ratio of 14. With a market capitalization of over ₹1,400 crore, Suraj Estate Developers continues to strengthen its position in Mumbai’s premium real estate sector.
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