Suraj Estate Developers Limited has informed the stock exchanges about the resignation of Mr. Gopal Govind Barve from his position as Chief Engineer, effective April 29, 2026. The departure represents a change in the company's senior managerial personnel structure.

Resignation Details

The company disclosed the resignation through official communication to both the National Stock Exchange of India Limited and BSE Limited, fulfilling its obligations under Regulation 30 of the SEBI Listing Regulations. The resignation became effective immediately from the closure of business hours on April 29, 2026.

Regulatory Compliance

Suraj Estate Developers has provided comprehensive disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted the required documentation including detailed annexures outlining the resignation particulars and the formal resignation letter from Mr. Barve.

Resignation Letter

In his formal resignation letter addressed to Managing Director Shri Rajan Thomas, Mr. Gopal Govind Barve expressed gratitude for the opportunities received during his tenure. He acknowledged the support and cooperation extended by the management and colleagues, describing his experience as valuable in contributing to the organization.

Corporate Communication

The official intimation was signed by Mukesh Gupta, Company Secretary & Compliance Officer, who holds ICSI Membership No. F6959. The communication was digitally signed and timestamped on April 29, 2026, ensuring proper documentation of the managerial change for regulatory compliance purposes.

Suraj Estate Developers Limited has announced the acquisition of land in Dadar (West) for a redevelopment project with an estimated Gross Development Value (GDV) of ₹100 crores. The acquisition, disclosed through an official press release under Regulation 30 of SEBI (LODR) Regulations, 2015, marks another strategic expansion in the company's core South-Central Mumbai market.

Official Regulatory Filing

The company submitted its press release to both National Stock Exchange of India Limited and BSE Limited through Company Secretary & Compliance Officer Mukesh Gupta. The filing was digitally signed and submitted as part of the company's disclosure obligations under SEBI regulations.

Land Acquisition Details

The company has acquired the land parcel situated at G/North ward, Dadar (West) with the following financial structure:

Project Development Plans

Suraj Estate Developers intends to undertake redevelopment of the acquired plot with significant commercial potential:

Strategic Significance

The Dadar (West) location represents one of Mumbai's established micro-markets, offering strategic advantages for residential development. The area is characterized by strong demand fundamentals, excellent connectivity, and proximity to key commercial districts. This acquisition is expected to strengthen the company's near-to-medium term upcoming projects pipeline and further consolidate its presence in South-Central Mumbai.

Management Commentary

Mr. Rahul Thomas, Whole-time Director of Suraj Estate Developers, emphasized the strategic importance of this acquisition: "This acquisition marks another significant step in strengthening our development pipeline within our core South-Central Mumbai markets. The Dadar micro-market continues to demonstrate strong demand fundamentals supported by excellent connectivity and established social infrastructure."

He further added that with an estimated GDV of approximately ₹100 crores, the project bolsters the company's portfolio of upcoming projects, thereby enhancing medium-term revenue visibility. The company remains committed to disciplined growth, selective acquisitions, and efficient execution while actively evaluating additional opportunities that align with their strategic vision.

Company Portfolio Overview

Suraj Estate Developers has established a strong presence in South-Central Mumbai since 1986, with an impressive track record:

The company specializes in redevelopment of tenanted properties across residential and commercial sectors, focusing primarily on value luxury, luxury segments, and commercial segments in markets including Mahim, Dadar, Prabhadevi, and Parel.