Suraj Estate Developers Limited , a prominent real estate developer in South Central Mumbai, has announced the launch of its latest residential project, 'Suraj Park View 1', in the heart of Dadar West. The new development, situated in the iconic Shivaji Park area, carries an estimated Gross Development Value (GDV) of ₹250.00 crores.

Project Highlights

'Suraj Park View 1' is set to be an upscale residential tower in the value luxury segment, offering a blend of heritage, sea-facing serenity, and contemporary urban living. The project boasts a saleable carpet area of approximately 0.53 lakh sq. ft. and is being developed under a capital-efficient redevelopment model, utilizing Regulations 33(7), 33(7)B, and 33(12) of DCPR 2034.

Strategic Location

The new development enjoys a prime location, just 100 meters from the Dadar Metro Station and 1.2 km from Dadar Railway Station. Its proximity to key areas such as Bandra-Kurla Complex (6.9 km away) and direct access to the Mumbai Coastal Road and Bandra-Worli Sea Link enhances its appeal. The project is also conveniently close to renowned hospitals, educational institutions, and cultural landmarks like the Shree Siddhivinayak Temple and Portuguese Church.

Residential Offerings

'Suraj Park View 1' will rise as a 29-storey tower, featuring thoughtfully designed 1, 2, and 3 BHK residences. The apartment sizes range from:

Residents will enjoy panoramic views of the Arabian Sea, Shivaji Park, Bandra-Worli Sea Link, and the Eastern Bay.

Amenities

The project aims to create a holistic lifestyle ecosystem with a range of amenities, including:

• A grand double-height entrance lobby
• Jogging tracks
• Open-air gym and yoga deck
• Children's play zones
• A refined banquet lounge

Additionally, a nine-level podium will ensure ample parking and resident convenience.

Market Outlook

Dadar continues to be one of Mumbai's most resilient residential micro-markets, driven by robust end-user demand, emotional affinity, and limited supply of premium compact homes. 'Suraj Park View 1' is positioned to cater to families seeking well-connected homes that are deeply rooted in cultural identity and belonging.

Management Commentary

Mr. Rahul Thomas, Whole-Time Director of Suraj Estate Developers, expressed enthusiasm about the launch, stating, "The launch of Suraj Park View 1 reflects the cultural essence of Dadar while meeting the evolving aspirations of modern homebuyers. Following the overwhelming success of Suraj Park View 2, we are witnessing strong enthusiasm for Suraj Park View 1, a project offering enhanced amenities and an elevated lifestyle."

Company Background

Suraj Estate Developers has been a key player in the real estate sector since 1986, focusing on residential and commercial development in the South-Central Mumbai region. The company has established a strong presence in micro-markets such as Mahim, Dadar, Prabhadevi, and Parel, and is now expanding into the Bandra sub-market.

With a track record of delivering 45 projects totaling over 16.09 lakh square feet of developed area, Suraj Estate Developers continues to strengthen its position in the value luxury, luxury, and commercial segments of the real estate market.

The launch of 'Suraj Park View 1' marks another significant milestone for the company, reinforcing its commitment to creating long-term value and maintaining its leadership in South-Central Mumbai's real estate landscape.

Suraj Estate Developers Limited , a prominent player in the real estate sector, has announced a significant move to bolster its financial position and fuel future growth. The company's Board of Directors has approved a plan to raise up to ₹500 crore through various financial instruments, marking a strategic step towards expansion and development.

Key Highlights of the Fundraising Initiative

• Fundraising Approval: The Board of Directors has given the green light to raise funds up to ₹500 crore.
• Flexible Approach: The company plans to raise this amount in one or more tranches, allowing for a phased and strategic capital infusion.
• Multiple Instruments: The fundraising will be executed through the issuance of equity shares, equity-linked securities, convertible securities, or warrants.
• Diverse Methods: Suraj Estate Developers is considering various modes of fundraising, including private placement, preferential issue, rights issue, and qualified institutional placement (QIP).

Corporate Actions and Governance

In addition to the fundraising approval, the Board meeting resulted in several other significant decisions:

Increase in Authorized Capital

The company has decided to increase its authorized share capital from ₹30.00 crore to ₹34.00 crore. This will be achieved by increasing the number of equity shares from 6 crore to 6.8 crore, maintaining the face value at ₹5 per share.

Shareholder Approval

The fundraising proposal and the increase in authorized share capital will be presented for shareholders' approval at the upcoming 39th Annual General Meeting (AGM).

AGM Rescheduling

The company has rescheduled its AGM from September 19 to September 30 to accommodate these new agenda items.

Implications and Next Steps

This ambitious fundraising plan signals Suraj Estate Developers' intent to capitalize on market opportunities and strengthen its position in the real estate sector. The flexibility in the fundraising approach allows the company to adapt to market conditions and investor preferences.

Investors and market watchers will be keenly observing how the company utilizes these funds, which could potentially be directed towards new project acquisitions, existing project completions, or debt reduction.

The success of this fundraising initiative will be crucial for Suraj Estate Developers' growth trajectory. As the real estate market continues to evolve, especially in key urban centers, this capital infusion could provide the company with the necessary resources to pursue its strategic objectives.

Shareholders will have the opportunity to vote on these proposals at the rescheduled AGM on September 30. The company has stated that it will circulate the updated AGM notice and the annual report to all shareholders in due course.

As Suraj Estate Developers embarks on this significant financial endeavor, the real estate and investment communities will be watching closely to see how this move shapes the company's future in the competitive property development landscape.