NSEGeneral Updates57m ago · 25 Sept 2026, 05:41 pm
General Updates
Suraj Estate Developers Limited · SURAJEST
✦ AI Summary▲ PositiveExpansion
Suraj Estate Developers Limited's wholly owned subsidiary Iconic Property Developers Private Limited completes acquisition of prime land at Mahim (West) with estimated GDV of ₹ 800 crore.
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Earnings Impact8/10
Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk6/10
Liquidity Impact9/10
Market Sentiment8/10
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Suraj Estate Developers Limited has informed the Exchange about General Updates
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To, To,
The Lis(cid:415)ng Department
The Lis(cid:415)ng Department
BSE Limited
Na(cid:415)onal Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,
Exchange Plaza, C-1, Block G,
Dalal Street, Fort,
Bandra Kurla Complex, Bandra (East),
Mumbai – 400001
Mumbai – 400051
Scrip Code: 544054 and Symbol: SURAJEST
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 – Completion of acquisition of development rights in
respect of land at Mahim (West), Mumbai
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI LODR Regulations”), read with the applicable provisions of the SEBI
LODR Regulations and SEBI Circulars issued thereunder, As per earlier disclosure made by the
Company the Company further hereby inform the Stock Exchanges that the Company’s
wholly owned subsidiary, Iconic Property Developers Private Limited, has completed the
acquisition of development rights in respect of a plot of land admeasuring approximately
2,941 square metres, contiguous to the Company’s ongoing commercial project “Suraj One
Business Bay” situated at Mahim (West), Mumbai.
In this regard, the Development Agreement in respect of the said plot of land has been duly
registered and the acquisition has been completed by making a total investment of ₹82.72
Crores.
Upon amalgamation with the existing commercial development, the said plot is expected to
generate additional saleable carpet area of approximately 1.50 lakh square feet, with an
estimated Gross Development Value (“GDV”) of approximately ₹800 Crores.
The acquisition is expected to strengthen the Company’s near-to-medium-term project
pipeline and consolidate its presence in the South-Central Mumbai market.
SURAJ ESTATE DEVELOPERS LIMITED
Aman Chambers, 3rd Floor, Century Bazaar, Prabhadevi, Mumbai, Maharashtra 400025
Call +91 022 2437 7877/+91 022 4015 4764/ +91 022 4015 4898
CIN No. L99999MH1986PLC040873
www.surajestate.com
The detailed disclosure containing the requisite information under Regulation 30 of the SEBI
LODR Regulations is enclosed herewith for your information and records.
You are requested to kindly take the above information on record.
Thanking you,
Yours faithfully,
For Suraj Estate Developers Limited
Mukesh Gupta
Company Secretary & Compliance Officer
Membership No.: F6959
Encl.: As above – Detailed Disclosure under Regulation 30 of SEBI LODR Regulations
SURAJ ESTATE DEVELOPERS LIMITED
Aman Chambers, 3rd Floor, Century Bazaar, Prabhadevi, Mumbai, Maharashtra 400025
Call +91 022 2437 7877/+91 022 4015 4764/ +91 022 4015 4898
CIN No. L99999MH1986PLC040873
www.surajestate.com
Suraj Estate Developers Limited’s wholly owned subsidiary Iconic Property Developers Private Limited
completes acquisition of prime land at Mahim (West) with estimated GDV of ₹ 800 crore.
Mumbai, September 25, 2026: Pursuant to the Memorandum of Understanding (MOU) entered by The
Company’s wholly owned subsidiary Iconic Property Developers Limited for acquisition of development
rights in respect of a plot of land admeasuring ~ 2,941 square meters contiguous to our ongoing commercial
project Suraj One Business Bay situated at Mahim (West), Iconic Property Developers Private Limited has
now registered Development Agreement in respect of the said plot of land and completed the acquisition
by making total investment of Rs 82.72 Crores. Mahim (West) is one of Mumbai’s established micro-
markets characterized by strong demand fundamentals, excellent connectivity, and proximity to key
commercial districts such as Lower Parel, Worli and Bandra Kurla Complex. The said plot upon
amalgamation with the existing commercial development is expected to generate additional saleable
carpet area of about 1.50 lakhs square feet with estimated GDV of ₹800 crores. The project is expected to
strengthen the Company’s near-to-medium term project pipeline and consolidate its presence in its core
market of South-Central Mumbai.
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.
For further details please contact:
Company Investor Relations Advisors
Suraj Estate Developers Limited Strategic Growth Advisors Pvt. Ltd.
CIN - L99999MH1986PLC040873 CIN - U74140MH2010PTC204285
suraj@surajestate.com Mr. Rahul Agarwal/Ms. Devraj Ghatge
rahul.agarwal@sgapl.net/
devraj.ghatge@sgapl.net
+91- 9821438864 /+91-9168723907
www.surajestate.com www.sgapl.net