Suraj Estate Developers Shares Surge on Dadar West Land Acquisition for ₹100 Crore GDV Project

Shares of Suraj Estate Developers rose sharply (up to 10-16% in early trade) after the company announced the acquisition of a land parcel in Dadar (West), Mumbai. The company acquired the plot for a total consideration of approx. ₹18 crore (₹8.53 crore cash + 2,200 sq ft area to be handed over to landowners + stamp duty). Key Details: Saleable carpet area: 0.18 lakh sq ft (18,000 sq ft) Estimated Gross Development Value (GDV): ₹100 crore The project will be redeveloped into a residential building. Rahul Thomas, Whole-time Director, said the acquisition strengthens the company’s project pipeline and improves medium-term revenue visibility in the prime South-Central Mumbai market.