Suraj Estate Developers Limited has informed the Exchange regarding a press release dated February 23, 2026, titled "Press Release for Acquisition of Company".
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Suraj Estate Developers Limited has completed the acquisition of 100% shares of Hally Pacific Private Limited for a total consideration of approximately ₹30.40 crore, making it a wholly owned subsidiary. Hally Pacific owns a vacant land parcel of about 717.39 square meters at Sayani Road, Prabhadevi, Mumbai, a prime South-Central Mumbai micro-market. Suraj Estate plans to develop a project on this land with an estimated saleable carpet area of around 0.367 lakh sq ft and an estimated Gross Development Value (GDV) of approximately ₹200 crore. The Share Purchase Agreement was executed on February 20, 2026. The company stated this acquisition strengthens its near-to-medium term project pipeline and consolidates its presence in its core South-Central Mumbai market.
This acquisition adds a ₹200 crore GDV project to Suraj Estate's pipeline at a relatively modest cost of ₹30.40 crore, potentially enhancing medium-term revenue visibility. For shareholders, this signals disciplined growth and strategic consolidation in a high-demand micro-market, which could be viewed positively by the market.