Suraj Estate Developers Limited has informed regarding that the Company has entered into Share Purchase Agreement on 20th February, 2026 and invested a total amount of Rs.30.40 Crores cons􀆟tu􀆟ng 100% in the paid-up share capital of Hally Pacific Private Limited.
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Suraj Estate Developers has acquired 100% stake in Hally Pacific Private Limited for Rs 30.40 Crores in an all-cash deal, making it a wholly owned subsidiary. The target owns a 717.39 sq meter land parcel at Sayani Road, Prabhadevi, Mumbai, which the company plans to use for real estate development. Hally Pacific is a furniture refurbishment company with declining revenue of Rs 17.41 lakhs in FY25, Rs 37.19 lakhs in FY24, and Rs 45.96 lakhs in FY23, indicating this is effectively a land-banking transaction through a company purchase. The deal involves buying 5,000 shares at Rs 60,800 per share (face value Rs 100), is not a related party transaction, and is expected to complete within 30 days.
This is a strategic land acquisition in a prime Mumbai location (Prabhadevi) that adds to Suraj Estate's real estate development pipeline. The Rs 30.40 Cr outlay is relatively modest and funded entirely through cash, so no equity dilution. Positive for shareholders as it secures a development-ready plot in a high-value micro-market, though execution and project viability on a small 717 sq meter parcel will be key to watch.