Shares of Suraj Estate Developers Limited surged 15% on Thursday, April 16, 2026.
The stock opened at ₹234.80 against a previous close of ₹227.21. It touched a day low of ₹232.00 and a day high of ₹267.08 during the session. The 52-week low stands at ₹171.30 and the 52-week high at ₹398.70. Live volume on the counter stood at 17,23,280 shares.
The move followed a land acquisition announcement by the company. Suraj Estate Developers has acquired a plot of land in the G/North ward, Dadar (West), Mumbai, at a total acquisition cost of approximately ₹18.00 crore, inclusive of stamp duty and the market value of area to be handed over to land owners. The cash component of the acquisition stands at ₹8.53 crore, with an additional 2,200 sq ft to be handed over to the existing land owners.
The company intends to undertake redevelopment of the plot with a sale carpet area of approximately 0.18 lakh sq ft and an estimated Gross Development Value of approximately ₹100 crore. The Dadar (West) micro-market offers proximity to key commercial districts including Lower Parel, Worli, and Bandra Kurla Complex.
Rahul Thomas, Whole-time Director of Suraj Estate Developers, stated that the acquisition marks a significant step in strengthening the company’s development pipeline within its core South Central Mumbai markets, and that the project bolsters the portfolio of upcoming projects, enhancing medium-term revenue visibility.
Suraj Estate Developers Limited is a leading real estate developer focused on South Central Mumbai, engaged in the redevelopment of residential and commercial properties across established micro-markets in the city.
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