Suraj Estate Developers shines on acquiring land parcel in Mumbai
Suraj Estate Developers is currently trading at Rs. 255.55, up by 28.05 points or 12.33% from its previous closing of Rs. 227.50 on the BSE.
The scrip opened at Rs. 234.50 and has touched a high and low of Rs. 265.00 and Rs. 234.00 respectively. So far 177775 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 398.00 on 06-Jun-2025 and a 52 week low of Rs. 168.80 on 30-Mar-2026.
Last one week high and low of the scrip stood at Rs. 265.00 and Rs. 208.90 respectively. The current market cap of the company is Rs. 1222.04 crore.
The promoters holding in the company stood at 69.60%, while Institutions and Non-Institutions held 2.80% and 27.60% respectively.
Suraj Estate Developers has acquired a piece and parcel of land for an acquisition cost of Rs 8.53 crore plus an area of 2,200 sq. ft. to be handed over to land owners thus leading to total acquisition cost of around Rs 18.00 crore (on the basis of acquisition cost plus stamp duty market value of area to be handed over to land owners plus stamp duty cost).
The said plot is situated at G/North ward, Dadar (West), which is one of Mumbai’s established micro-markets characterized by strong demand fundamentals, excellent connectivity, and proximity to key commercial districts such as Lower Parel, Worli and Bandra Kurla Complex.
The company intends to undertake redevelopment the plot of land with sale carpet area of around 0.18 lakhs sq. ft. with an estimated gross development value (GDV) of around Rs 100 crore. The project is expected to strengthen the company’s near-to-medium term upcoming projects pipeline and further consolidate its presence in its core operating micro-market of South-Central Mumbai.
