Suraj Estate Developers Acquires Prabhadevi Land Parcel for ₹30.40 Crore

Suraj Estate Developers Limited has successfully completed the acquisition of 100% shares of Hally Pacific Private Limited. The transaction, executed through a Share Purchase Agreement dated February 20, 2026, was concluded for a total consideration of approximately ₹30.40 crore. 

With this acquisition, Hally Pacific has become a wholly owned subsidiary of Suraj Estate Developers.

Strategic Land Parcel in Prabhadevi

Hally Pacific owns a vacant land parcel measuring approximately 717.39 square meters on Sayani Road, Prabhadevi, Mumbai. Prabhadevi is regarded as one of the city’s well-established micro-markets, benefiting from strong residential demand, robust infrastructure, and excellent connectivity. 

The location also enjoys proximity to key commercial hubs such as Lower Parel and Worli, making it attractive for premium residential development.

Development Plans and GDV Potential

Suraj Estate Developers plans to undertake a new project on the acquired site, with an estimated saleable carpet area of around 0.367 lakh square feet. The project is expected to generate an estimated Gross Development Value (GDV) of approximately ₹200 crore. 

This addition is likely to enhance the company’s near-to-medium-term project pipeline and further strengthen its footprint in the South-Central Mumbai market, where it has an established operational presence.

Commenting on the update, Mr. Rahul Thomas, Whole-time Director, Suraj Estate Developers, said, “This acquisition marks another significant step in strengthening our development pipeline within our core SouthCentral Mumbai markets. The Prabhadevi micro-market continues to demonstrate strong demand fundamentals supported by excellent connectivity and established social infrastructure. With an estimated GDV of approximately X200 crore, the project bolsters our portfolio of upcoming projects thereby enhancing our medium-term revenue visibility.” 

He further added, “We remain committed to disciplined growth, selective acquisitions, and efficient execution, and are actively evaluating additional opportunities that align with our strategic vision. We believe this project will contribute meaningfully to long-term value creation for our stakeholders while further strengthen our position in the South-Central Mumbai development landscape.”

Suraj Estate Developers Share Price Performance

On February 24, 2026, Suraj Estate Developers share price opened at ₹216.00, touching the day’s low at ₹211.82, as of 11:30 AM on the NSE.

Also Read: IDFC First and AU SFB Barred from Haryana Govt Business in Wake of ₹590 Crore Fraud!

Conclusion

The acquisition aligns with Suraj Estate Developers’ strategy of consolidating land parcels in high-demand micro-markets within Mumbai. By securing a strategically located site in Prabhadevi, the company aims to unlock value through premium development while reinforcing its growth pipeline and market positioning in South-Central Mumbai.

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