Shares of Suraj Estate rose 15 per cent following the Dadar land acquisition deal in Mumbai. Joint eye Rs 100 crore GDV
In a regulatory filing, the company said it had purchased the land at an initial cost of Rs 853 crore and was obliged to hand over over 2,200 sq ft to the landowner. The total acquisition cost, including stamp duty and market value of the area to be transferred, comes to around Rs 18 crore.
The project site is located in G/North ward of Dadar (West), a well-established micro market in south-central Mumbai known for strong demand, strong connectivity and proximity to major commercial hubs such as Lower Parel, Worli and Bandra Kurla Complex.
Suraj Estate Developers plans to redevelop the site with a salable carpet area of around 0.18 lakh sq ft targeting a GDV of approximately Rs 100 crore. The development is expected to strengthen the company’s short- and medium-term project pipeline and strengthen its presence in the core South Central Mumbai market.
Commenting on the development, Executive Director Rahul Thomas said the acquisition is in line with the company’s strategy to achieve focused growth in high-demand micro markets. He added that the project will improve revenue visibility in the medium term while contributing to long-term value creation.
Suraj Estate Developers is currently trading with a market capitalization of around Rs 1,085 crore, and its stock price has risen nearly 32% in the last one month. The 52-week high is 398.70 won.
In terms of valuation, the stock trades with a price-to-earnings (P/E) ratio of 11.1, a price-to-sales (P/S) ratio of 2.55, and a price-to-book (P/B) ratio of 1.2. On the technical side, the stock’s 14-day relative strength index (RSI) is 64.3, according to Trendlyne data, indicating it is approaching overbought territory. It’s still below 70 points. The stock is trading above 7 out of 8 simple moving averages (SMAs), but below the longer-term 200-day SMA.
In terms of share ratio, the share of foreign institutional investors (FIIs) increased slightly from 1.70% in the previous quarter to 1.77% in the December quarter of 2025. The company has not yet released equity data for the March quarter.
Also Read: HDB Financial Services expands 12% on strong Q4 performance and FY26 dividend.
Financially, Suraj Estate recorded revenue of Rs 181 crore for the December 2025 quarter, up 5.6% year-on-year, and net profit at Rs 25 crore, up 25.9% year-on-year.
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