Realty stock that develops residential and commercial real estate in the South Central Mumbai region jumps 4 percent in the day’s trade following the launch of its new luxury project in Mumbai with a gross development value close to Rs. 100 Crores.
With a market capitalization of Rs. 1,483 Crores, the shares of Suraj Estate Developers Limited were trading at Rs. 334.35, up 2.75 percent from its previous day’s close price of Rs. 325.40.
Suraj Estate Developers Limited launched a new luxury residential project named ‘Suraj Lumina’ in Mumbai with an estimated gross development value close to Rs. 100 Crores.
The project comprises 35 units including both 2BHK and 3BHK, with a total saleable carpet area of 22,376 sq ft and it is expected to be completed by December 2028. The project has proximity to some of the key landmarks such as Shivaji Park, Hinduja Hospital, and Bombay Scottish School
Following the launch, Mr. Rahul Thomas, Executive Director, of Suraj Estate Developers, said We are delighted to add this landmark project to our portfolio of redevelopment projects in the Southcentral Mumbai market, which has been integral to the company’s history. Over the years, we have completed 42 projects and have provided better quality homes to 1,000+ tenants.
Suraj Estate Developers Limited is a real estate construction company that develops residential and commercial real estate in the South Central Mumbai region.
Its revenue from operations grew by 12.11 percent from Rs. 273 Crores in FY22 to Rs. 306 Crores in FY23, accompanied by increasing profits of Rs. 27 Crores to Rs. 32 Crores.
Written by: Bharath K.S
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