Suraj Estate Developers stock surged over 3% today morning following its announcement of a strategic land acquisition. The company has acquired a 15,758 square feet plot in Mahim, Mumbai, for ₹101 crore through its subsidiary, Iconic Property Developers.
Stock Details
- Current Share Price: ₹690 (+1.85%)
- Market Capitalization: ₹30.13 billion
- Price to Earnings Ratio (TTM): 36.40
- Dividend Yield: 0.15%
- Net Income (FY): ₹674.99 million
- Revenue (FY): ₹4.12 billion
- Basic EPS (TTM): ₹18.70
- Beta (1Y): 2.14 (indicating higher volatility compared to the market)
- Shares Float: 11.06 million
- Stock Performance:
- 1 Day: +2.15%
- 5 Days: +3.85%
- 1 Month: +0.88%
- 6 Months: +83.57%
- Year to Date: +109.20%
- 1 Year: +103.54%
- 5 Years: +103.54%
- All-Time: +103.54%
This land will be developed into a commercial property with an estimated RERA carpet area of 1.03 lakh square feet, having a projected gross development value (GDV) of ₹525 crore.
This move aligns with Suraj Estate Developers’ strategy to expand its footprint in Mumbai’s lucrative real estate market. It follows a robust Q2FY25 performance, where the company reported an 88% YoY increase in net profit to ₹31.83 crore. The stock is expected to gain further momentum, reflecting investor confidence in the company’s growth prospects and its ability to execute high-value projects effectively.
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