Suraj Estate Developers Limited has informed the Exchange regarding "Press Release for Acquisition of Land dated April 15, 2026 ".
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Suraj Estate Developers has acquired land in Dadar (West), Mumbai for a total cost of approximately ₹18 crore (including ₹8.53 crore cash consideration plus 2,200 sq ft area to be handed over to land owners). The company plans to redevelop the plot with a sale carpet area of approximately 0.18 lakh sq ft, resulting in an estimated Gross Development Value (GDV) of around ₹100 crore. The project is expected to strengthen the company's near-to-medium term project pipeline and further consolidate its presence in South-Central Mumbai, its core operating market. This acquisition aligns with the company's strategy of selective acquisitions and disciplined growth.
The acquisition adds a new project to the pipeline with ~₹100 crore GDV potential, enhancing medium-term revenue visibility for the company while expanding its footprint in the established Dadar micro-market. This is a positive development for shareholders as it demonstrates continued execution of growth strategy.