Suraj Estate Developers Acquires Hally Pacific: A Strategic Move in South Central Mumbai
Mumbai, February 24, 2026: Suraj Estate Developers Limited, a leading real estate developer in South Central Mumbai, announced the successful completion of the acquisition of 100% shares of Hally Pacific Private Limited. Hally Pacific owns a strategically located vacant land parcel at Sayani Road, Prabhadevi, Mumbai. The acquisition, completed pursuant to a Share Purchase Agreement executed on February 20, 2026, for a total consideration of approximately ₹30.40 crore, has made Hally Pacific Private Limited a wholly owned subsidiary of Suraj Estate Developers.
The acquired land admeasures approximately 717.39 square meters and is situated in one of Mumbai’s established micro-markets, Prabhadevi. This area is characterized by strong demand fundamentals, excellent connectivity, and proximity to key commercial districts such as Lower Parel and Worli. Suraj Estate Developers intends to undertake development on the project site, which is estimated to have a sale carpet area of around 0.367 lakhs sq ft, with an estimated Gross Development Value (GDV) of approximately ₹200 crore.
Commenting on the acquisition, Mr. Rahul Thomas, Whole-time Director of Suraj Estate Developers, said, “This acquisition marks another significant step in strengthening our development pipeline within our core South-Central Mumbai markets. The Prabhadevi micro-market continues to demonstrate strong demand fundamentals supported by excellent connectivity and established social infrastructure. With an estimated GDV of approximately ₹200 crore, the project bolsters our portfolio of upcoming projects and enhances our medium-term revenue visibility.
We remain committed to disciplined growth, selective acquisitions, and efficient execution. We are actively evaluating additional opportunities that align with our strategic vision. We believe this project will contribute meaningfully to long-term value creation for our stakeholders while further strengthening our position in the South-Central Mumbai development landscape.”
Suraj Estate Developers has been involved in the real estate business since 1986 and has a strong presence in the South Central Mumbai region. The company develops real estate across residential and commercial sectors, with a focus on value luxury, luxury segments, and commercial segments. Suraj Estate Developers has a residential portfolio located in the markets of Mahim, Dadar, Prabhadevi, and Parel, and is now venturing into residential real estate development in Bandra.
The company’s focus area of operation is the South-Central region in Mumbai, primarily consisting of Mahim, Matunga, Dadar, Prabhadevi, and Parel. Their expertise lies in the redevelopment of tenanted properties, and they identify properties with cessed or non-cessed structures and tie up with landlords through development agreements or outright purchases.
Since its incorporation, Suraj Estate Developers has completed over 45 projects with a developed area of more than 16.09 lakh square feet in the South-Central Mumbai region. In addition to the completed projects, the company has 13 ongoing projects with a developable area of 23.54 lakh square feet and a saleable RERA carpet area of 7.55 lakh square feet. They also have 17 upcoming projects with an estimated sale carpet area of 11.94 lakh square feet.
Safe Harbor: Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues, are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions, or other factors.
