IGI Logo

Shares of Mumbai-based Realtor Suraj Estate Developers Limited made their debut on the exchange closes at a little over Rs 334.

The scrip listed Rs 343.80 per share on BSE and Rs 340 per share on NSE. The company's share price closed at Rs 334.30 per share on the BSE, and at Rs 334.90 per share on the NSE.

As per NSE, the total quantity traded stood at 58.33 lakh shares, on BSE the total Quantity stood at 3.65 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 212.48 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs. 1482.99 Crore as per BSE and Rs. 1485.65 Crore as per NSE.

The Initial Public Offering of Suraj Estate Developers Limited was subscribed 15.65 times. Retail Portion was subscribed 9.30 times, Non-Institutional Investors Portion with 18.90 times, whereas Qualified Institutional Buyer Portion subscribed 24.31 times.

Suraj Estate Developers Limited is one of the leading Mumbai-based realtor with a long standing presence of over 36 years and has developed real estate across the residential and commercial sectors in South Central Mumbai region and has residential portfolio located in the markets of Mahim, Matunga, Dadar, Prabhadevi and Parel. The company caters to the discerning clientele across the "value luxury" and "luxury" segments, offering a diverse range of properties with customer centric business model focused on addressing customer requirements in various locations, ticket sizes and configurations.

With a longstanding presence of over thirty-six years in the real estate market, it has completed forty-two (42) projects with a developed area of more than 1,046,543.20 square feet in the South-Central Mumbai region. In addition to the Completed Projects, it has thirteen (13) Ongoing Projects with a developable area of 20,34,434.40 square feet and saleable carpet area 6,09,928 square feet and sixteen (16) Upcoming Projects with an estimated carpet area of 7,44,149 square feet.

For the financial year ending March 31, 2023, the Company’s consolidated revenue from operations increased to Rs 3,05.74 crore from Rs 272.72 crore in the previous fiscal 2022, primarily due to increase in sales on account of new projects launch in value luxury segment. For the fiscal year 2023, the Company generated a profit of Rs 32.06 crore as compared to Rs 26.50 crore for last fiscal year.

For the three months ended June 30, 2023, revenue from operations stood at Rs 102.41 crore and profit after tax stood at Rs 14.53 crore.

Above views are of the author and not of the website kindly read disclaimer