Suraj Estate Developers has announced a strategic land acquisition in Mumbai's Lower Parel area, significantly enhancing its upcoming Ambavat Bhavan project. The company has acquired a prime 644 sq. meters land parcel at N.M. Joshi Marg for ₹6.44 crores, including stamp duty and registration charges.

Project Expansion and Value Enhancement

The newly acquired land, known as RK Mansion (CS No. 178), will be merged with the adjacent Ambavat Bhavan project. This consolidation results in:

• A total land parcel of 1,310 sq. meters
• An estimated saleable carpet area of 0.32 lakh sq. ft.
• A projected Gross Development Value (GDV) of ₹130.00 crores

Development Plans

The expanded project will feature:

• Premium 1 and 2 BHK residential apartments
• Value-luxury segment offerings
• Development under regulation 33(7) of DCPR 2034
• Optimized layouts and wider frontage
• Ample parking facilities

Strategic Location

The project boasts excellent connectivity via:

• Western and Central railway lines
• Monorail
• Eastern Freeway
• Mumbai Coastal Road

Residents will benefit from proximity to top-tier healthcare, retail, and entertainment facilities in the vibrant Lower Parel, Worli, and Prabhadevi areas.

Management Commentary

Mr. Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers, commented on the acquisition: "This acquisition will strengthen our presence in South-Central Mumbai's value-luxury segment. By integrating this land parcel with our upcoming Ambavat Bhavan project, we are creating a landmark development that blends superior design, premium amenities, and sustainable value for our customers."

Company Profile

Suraj Estate Developers has been a prominent player in the real estate sector since 1986, focusing on residential and commercial development in South-Central Mumbai. The company specializes in:

• Value luxury, luxury, and commercial segments
• Redeveloping tenanted properties under DCPR 33(7)
• Unlocking value in densely populated areas through strategic partnerships and acquisitions

Since its inception, Suraj Estate Developers has:

• Delivered 45 projects totaling over 16.09 lakh square feet
• Currently has 10 ongoing projects with a total RERA saleable carpet area of 4.7 lakh square feet
• 19 upcoming projects with an estimated saleable carpet area of ~12.2 lakh square feet

This latest acquisition reinforces Suraj Estate Developers' commitment to growth and value creation in Mumbai's competitive real estate market.

Suraj Estate Developers Limited , a prominent real estate developer in Mumbai, has announced its financial results for the first quarter, showcasing resilience in a challenging market environment.

Financial Performance

For the first quarter, Suraj Estate Developers reported:

The company's presales stood at INR 81.00 crores, impacted by limited available inventory. However, collections grew significantly by 60% year-on-year to INR 115.00 crores, indicating strong customer cash flows and progress in project execution.

Project Launches and Pipeline

Suraj Estate Developers has an ambitious launch pipeline for the near future:

• Launched Suraj Aureva in Prabhadevi, receiving encouraging initial response
• Obtained planning approvals for Suraj Park View 1, with RERA registration formalities in progress
• Committed to launching projects with a cumulative Gross Development Value (GDV) of INR 1,600.00 crores in the near term, including:
  • A commercial project with INR 1,200.00 crores GDV
  • Parkview 1 with INR 250.00 crores GDV

Marinagar Project Update

The company secured additional 2 lakh square feet carpet area under Metro FSI for its Marinagar project in Mahim. This expansion is expected to generate an incremental GDV of approximately INR 800.00 crores.

Project Portfolio

Suraj Estate Developers' project pipeline now comprises:

• 19 upcoming projects with an estimated saleable carpet area of 12.2 lakh square feet
• 10 ongoing projects representing 4.69 lakh square feet under development

Market Outlook

The company remains optimistic about the Indian real estate sector, citing resilient domestic demand, improved affordability metrics, and sustained infrastructure push across metros. Suraj Estate Developers is particularly bullish on the value luxury segment in residential spaces and commercial office spaces.

Suraj Estate Developers Limited continues to position itself for growth in the Mumbai real estate market, with a strong pipeline of projects and a focus on strategic locations. The company's performance in the coming quarters will be closely watched as it executes its ambitious launch plans.