Suraj Estate Developers has successfully acquired the complete stake in Hally Pacific Private Limited for ₹30.40 crore, converting the entity into a wholly owned subsidiary. This strategic acquisition forms part of the company's expansion strategy for its Prabhadevi redevelopment project.

Strategic Acquisition Details

The transaction involves the purchase of the entire equity stake in Hally Pacific Private Limited, with the acquisition value set at ₹30.40 crore. Following the completion of this acquisition, Hally Pacific will operate as a wholly owned subsidiary of Suraj Estate Developers.

Prabhadevi Redevelopment Focus

The acquisition is strategically aligned with Suraj Estate Developers' Prabhadevi redevelopment project. By bringing Hally Pacific under its complete ownership, the company aims to strengthen its operational capabilities and project execution framework for this key development initiative.

Business Expansion Strategy

This acquisition represents Suraj Estate Developers' commitment to expanding its redevelopment portfolio through strategic investments. The conversion of Hally Pacific into a wholly owned subsidiary provides the company with enhanced control over project operations and decision-making processes related to the Prabhadevi development.

The transaction underscores the company's focus on consolidating its presence in Mumbai's redevelopment sector, particularly in prime locations like Prabhadevi, which holds significant potential for premium residential and commercial developments.