Suraj Estate Acquires Prabhadevi Land for Rs. 200 Cr Project

Suraj Estate Developers Limited has announced the completion of its acquisition of 100 percent shares of Hally Pacific Private Limited, which owns a vacant land parcel in Prabhadevi, Mumbai.

The acquisition, completed on February 24, follows a Share Purchase Agreement executed on February 20, 2026, for a total consideration of approximately ₹30.40 crore, making Hally Pacific a wholly owned subsidiary of the company.

The acquired entity holds a vacant land parcel measuring approximately 717.39 square meters in Prabhadevi, one of Mumbai’s well-established micro-markets.

Key Highlights

• Suraj Estate acquires Hally Pacific for ₹30.40 crore, securing land in Prabhadevi
• The project has an estimated GDV of ₹200 crore and 0.367 lakh sq ft saleable area
• Strengthens Suraj Estate’s pipeline in South-Central Mumbai near Lower Parel and Worli

The area is known for its strong demand fundamentals, excellent connectivity, and proximity to key commercial hubs such as Lower Parel and Worli.

Suraj Estate plans to undertake a new development on the site, which has an estimated saleable carpet area of 0.367 lakh sq ft and a projected Gross Development Value (GDV) of nearly ₹200 crore. The proposed project is expected to significantly enhance the company’s near-to-medium term project pipeline.

This strategic acquisition further consolidates Suraj Estate’s presence in its core operating micro-market of South-Central Mumbai, reinforcing its focus on premium urban redevelopment opportunities in high-demand locations. The move aligns with the company’s growth strategy of strengthening its footprint in established residential and commercial corridors within Mumbai.

“This acquisition marks another significant step in strengthening our development pipeline within our core South Central Mumbai markets. The Prabhadevi micro-market continues to demonstrate strong demand fundamentals supported by excellent connectivity and established social infrastructure. With an estimated GDV of approximately ₹200 crore, the project bolsters our portfolio of upcoming projects, thereby enhancing our medium-term revenue visibility," said Rahul Thomas, whole-time Director, Suraj Estate Developers.

Also Read: Suraj Estate Developers Posts Robust FY25 Performance with 33% Revenue Growth

“We believe this project will contribute meaningfully to long-term value creation for our stakeholders while further strengthening our position in the South-Central Mumbai development landscape,” the company said.