Suraj Estate Developers Limited IPO

Suraj Estate Developers Limited is a real estate construction company with a focus on best-in-class collaborations and client assurance.

The company has over 35 years of experience in developing real estate across the residential and commercial sectors in the South Central Mumbai region. Suraj has developed over 10 lakh square feet of land in Mumbai. In the residential portfolio, Suraj is present across the value luxury and luxury segments across multiple price points with unit values ranging from ₹10.00 million to ₹130.00 million. In the commercial portfolio, Suraj has constructed and sold built-to-suit corporate headquarters to institutional clientele namely, Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar). The company has built more than 40 projects across residential and commercial segments in Mumbai.

From 2016 to 2023 (Q1), the company has launched 15 residential projects out of which 13 projects (~87%) are redevelopment 178 projects. As of March 31, 2023, Suraj has redeveloped houses for more than 1,011 tenants free of cost under regulation 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations). As of May 31, 2023, the company has completed 42 projects with a developed area of more than 1,046,543.20 square feet in the South Central Mumbai region. In addition to the Completed Projects, it has 11 Ongoing Projects with a developable area of 1,714,962.03 square feet, and saleable RERA carpet area of 497,774 square feet, and 21 Upcoming Projects with an estimated carpet area of 843,192 square feet.

Suraj Estate Developers was awarded Best Developer of the Year - Residential at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai, on February 2, 2020.