Suraj Estate Developers Acquires Strategic Land in Mumbai to Expand Ambavat Bhavan Project
Suraj Estate Developers Ltd has acquired a 644 sq. meter land parcel in Mumbai’s Lower Parel for Rs. 6.44 crores. This strategic move will expand the Ambavat Bhavan project, adding significant value to the company’s portfolio.
Real EstateSuraj Estate DevelopersMumbaiLand AcquisitionAmbavat BhavanReal EstateAug 26, 2025
Suraj Estate Developers Ltd, with a market capitalisation of Rs. 1,548.81 crore, opened at Rs. 326.95 against its previous close of Rs. 324.25. The stock touched an intraday high of Rs. 327, marking a rise of 0.85 percent from the previous close.
Suraj Estate Developers has acquired a 644 sq. meter land parcel at N.M. Joshi Marg, Lower Parel, for Rs. 6.44 crores, inclusive of stamp duty and registration. This land will be amalgamated with its adjacent Ambavat Bhavan project, creating a consolidated 1,310 sq. meter plot.
The combined project will yield a saleable carpet area of 0.32 lakh sq. ft. and a projected gross development value (GDV) of Rs. 130 crores. It will feature premium 1 and 2 BHK apartments in the value-luxury category. Located in one of Mumbai’s most connected micro-markets, the project benefits from proximity to rail, Monorail, Eastern Freeway, and the Mumbai Coastal Road. The neighbourhood is also close to key healthcare, retail, entertainment, and commercial hubs of Lower Parel, Worli, and Prabhadevi.
Commenting on the acquisition, Mr. Rahul Thomas, Promoter and Whole-Time Director of Suraj Estate Developers Limited, said, “This acquisition will strengthen our presence in the South-Central Mumbai’s value-luxury segment. By integrating this land parcel with our upcoming Ambavat Bhavan project, we are creating a landmark development that blends superior design, premium amenities, and sustainable value for our customers.”
On a quarter-on-quarter basis, sales declined 2.94 percent to Rs. 132 crore from Rs. 136 crore. Operating profit surged 66.67 percent to Rs. 50 crore from Rs. 30 crore. Profit before tax rose 7.69 percent to Rs. 28 crore from Rs. 26 crore, while net profit increased 16.67 percent to Rs. 21 crore from Rs. 18 crore.
Year-on-year, sales fell 1.49 percent from Rs. 134 crore to Rs. 132 crore. Operating profit dropped 20.63 percent from Rs. 63 crore to Rs. 50 crore. Profit before tax contracted 30 percent to Rs. 28 crore from Rs. 40 crore, while net profit declined 30 percent to Rs. 21 crore from Rs. 30 crore.
Established in 1986, Suraj Estate Developers is a prominent real estate company in South-Central Mumbai with projects across Mahim, Dadar, Prabhadevi, and Parel, while expanding into Bandra. The company is known for value-luxury, luxury, and commercial developments, with strong expertise in tenant redevelopment under DCPR 33(7), leveraging negotiations to create value in high-density areas.
Frequently Asked Questions
What is the significance of Suraj Estate Developers' land acquisition in Lower Parel?
The acquisition of a 644 sq. meter land parcel in Lower Parel for Rs. 6.44 crores is significant as it will be amalgamated with the Ambavat Bhavan project, expanding the saleable carpet area and increasing the project's gross development value to Rs. 130 crores.
How does this acquisition impact Suraj Estate Developers' stock?
The stock of Suraj Estate Developers traded marginally higher, opening at Rs. 326.95 against its previous close of Rs. 324.25, and touching an intraday high of Rs. 327, marking a rise of 0.85 percent from the previous close.
What are the key financial metrics of Suraj Estate Developers in the last quarter?
On a quarter-on-quarter basis, sales declined 2.94 percent to Rs. 132 crore, operating profit surged 66.67 percent to Rs. 50 crore, profit before tax rose 7.69 percent to Rs. 28 crore, and net profit increased 16.67 percent to Rs. 21 crore.
What is the projected gross development value (GDV) of the combined Ambavat Bhavan project?
The combined Ambavat Bhavan project, after the acquisition, is projected to have a gross development value (GDV) of Rs. 130 crores.
What is Suraj Estate Developers' expertise in the real estate market?
Suraj Estate Developers is known for value-luxury, luxury, and commercial developments, with strong expertise in tenant redevelopment under DCPR 33(7), leveraging negotiations to create value in high-density areas.
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