Suraj Estate Developers Acquires Hally Pacific for Strategic Expansion in Mumbai

Suraj Estate Developers, a leading real estate developer in South Central Mumbai, has entered into an agreement to acquire a 100% stake in Hally Pacific. This strategic move aims to enhance Suraj Estate Developers' presence in the region by developing a prime land parcel in Prabhadevi, Mumbai.

Hally Pacific, the target company, was initially established to manufacture and deal in various types of furniture, including wooden, brass, steel, fiber glass, plastic, leather, and textile furnishings. Despite its primary focus on furniture, Hally Pacific reported a revenue from operations of Rs 17.41 lakh in the fiscal year 25.

The acquisition involves a 717.39 Sq meter land plot situated at Sayani Road, G/South Ward, Prabhadevi, Mumbai. This land, currently owned by Hally Pacific, will be developed by Suraj Estate Developers to expand its residential and commercial real estate portfolio in the area.

The deal includes the acquisition of 5,000 equity shares with a face value of Rs 100 each, at a price of Rs 60,800 per share, totaling a consideration of Rs 30.40 crore. The share purchase agreement is expected to be completed within 30 days from the date of execution.

Suraj Estate Developers has a strong track record in developing residential and commercial properties in South Central Mumbai. The company's portfolio includes prime locations such as Mahim, Dadar, Prabhadevi, and Parel, making it a significant player in the local real estate market.

In the recently concluded Q3 FY26, Suraj Estate Developers reported a consolidated net profit of Rs 25.15 crore, marking a 25.9% increase compared to the same period in FY25. The net sales also saw a 6% rise to Rs 180.05 crore. These financial results underscore the company's robust performance and its potential for further growth.

The acquisition of Hally Pacific is a strategic step that aligns with Suraj Estate Developers' vision to expand its footprint in the Mumbai real estate market. By leveraging the acquired land in Prabhadevi, the company aims to meet the growing demand for high-quality residential and commercial properties in the region.

Investors have responded positively to this development, with the company's stock closing at Rs 217.85, a 1.42% increase on the BSE. This acquisition is expected to contribute significantly to Suraj Estate Developers' future growth and strengthen its position in the competitive real estate sector.