Established in 1986, Suraj Estate Developers Limited stands as a prominent real estate construction company, specializing in both residential and commercial developments within the South Central Mumbai region.
Unlike providing in-house construction services, the company relies entirely on third-party contractors for its project construction. With a robust track record, Suraj Estate Developers Limited has successfully completed forty-two projects in South-Central Mumbai, with thirteen ongoing projects and sixteen upcoming ventures.
Some noteworthy projects by the company include Suraj Eleganza-II, ICICI Apartments, CCIL Bhavan, Tranquil Bay-I, Elizabeth Apartment, Mon Desir, St. Anthony Apartments, Lumiere, Tranquil Bay-II, Brahmsidhhi CHS, Jacob Apartments, Suraj Eleganza-I, Gloriosa Apartments, and others.
As of September 30, 2023, the company, along with its subsidiaries, maintains a workforce of 126 permanent employees. Suraj Estate has significantly contributed to Mumbai’s landscape, developing over 10 lakh square feet of land. In the residential sector, the company caters to both the “Value Luxury” and “Luxury” segments, with unit values ranging from Rs. 10.00 million to Rs. 130.00 million.
In the commercial domain, Suraj Estate has successfully constructed and sold corporate headquarters for esteemed institutional clients such as Saraswat Cooperative Bank Limited (Prabhadevi), National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited (Dadar).
Key Points Regarding Suraj Estate Developers IPO
| IPO Date | 18 December, 2023 to 20 December, 2023 |
| Price Band | Rs 340 to Rs 360 per share |
| Face Value | Rs 5 per share |
| Lot Size | 41 Shares |
| Total Issue Size | 11,111,111 shares (aggregating up to ₹400.00 Cr) |
| Listing Date | 26 December, 2023 as per the schedule |
| Listing At | BSE, NSE |
Suraj Estate Developers IPO Overview
- Book built issue of Rs 400.00 crores.
- Entirely a fresh issue of 1.11 crore shares.
Subscription Details:
- Opens for subscription on December 18, 2023, and closes on December 20, 2023.
- Allotment expected on Thursday, December 21, 2023
Listing Information:
- Tentative listing date is set for Tuesday, December 26, 2023, on BSE and NSE.
IPO Price Band:
- Price band: ₹340 to ₹360 per share.
Lot Size and Investment:
- Minimum lot size for an application: 41 shares.
- Retail investors require a minimum investment of ₹14,760.
Investment Requirements for Qualified Investors:
- sNII (Non-Institutional Investors): 14 lots (574 shares), totalling ₹206,640.
- bNII (Non-Institutional Investors): 68 lots (2,788 shares), totalling ₹1,003,680.
Suraj Estate Developers Financials
Here’s a quick look at Suraj Estate Developers financial breakdown in terms of money (in ₹ crores ).
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 994.73 | 942.58 | 864.00 | 792.00 |
| Revenue | 102.81 | 307.89 | 273.91 | 244.00 |
| Profit After Tax | 14.53 | 32.06 | 26.50 | 6.28 |
| Net Worth | 86.11 | 71.39 | 39.16 | 29.15 |
| Reserves and Surplus | 70.29 | 55.48 | 23.32 | 22.94 |
| Total Borrowing | 598.50 | 593.09 | 638.16 | 600.48 |
Company Address
Suraj Estate Developers Limited
301, 3rd Floor, Aman Chambers,
Veer Savarkar Marg, Opp. Bengal Chemicals,
Prabhadevi, Mumbai – 400025
Phone: +91 22 2437 7877
Email: [email protected]
Website: https://surajestate.com/
You May Like
Thomas Rajan, a founder of Suraj Estate developer began in the year 1986.