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This acquisition is proposed to be merged with the adjacent upcoming project – Ambavat Bhavan, resulting in a consolidated land parcel of 1,310 square meters and a combined estimated saleable carpet area of 0.32 lakh square feet, with a projected GDV of Rs 130 crore.
The amalgamation envisions the development of premium 1-BHK and 2-BHK residential apartments in the value-luxury segment.
The project would offer optimized layouts, wide frontage, and ample parking in Lower Parel, Mumbai. With excellent connectivity through rail, road, and coastal links, it would ensure easy access to healthcare, retail, entertainment, and key commercial hubs in Lower Parel, Worli, and Prabhadevi.
Rahul Thomas, promoter and whole-time director of Suraj Estate Developers, said: “This acquisition will strengthen our presence in the South-Central Mumbai’s value luxury segment.
By integrating this land parcel with our upcoming Ambavat Bhavan project, we are creating a landmark development that blends superior design, premium amenities and sustainable value for our customers.”
Suraj Estate Developers has been involved in the real estate business since 1986, and the company develops real estate across the residential and commercial sectors in the South Central Mumbai region. The company has a residential portfolio located in the markets of Mahim, Dadar, Prabhadevi, and Parel, which are sub-markets of the South-Central Mumbai micro market.
The company's consolidated net profit declined 29.37% to Rs 21.28 crore as revenue remained flat at Rs 132.47 crore in Q1 FY26 as compared with Q1 FY25.
The scrip fell 1.71% to currently trade at Rs 318.70 on the BSE.