The entire consideration along with stamp duty and registration charges has been fully paid. The project envisions the development of a commercial building with an estimated RERA carpet area of 1.03 lakhs square feet with a gross development value (GDV) of around Rs 525 crore. The newly acquired land parcel is strategically positioned adjacent to a previously acquired vacant plot, intended for the development of a commercial building. The amalgamation of these two plots, will enable the development of a composite commercial building with larger floor plates to meet the growing demand of corporate clients. Rahul Thomas, promoter and whole-time director of Suraj Estate Developers, said, 'This acquisition marks a significant milestone in our efforts to expand our footprint in Mumbai's rapidly growing commercial real estate sector. With the strategic positioning of the newly acquired land, we are well-placed to develop high-quality, build-to-suit office spaces tailored to meet the specific needs of corporate clients. This move not only reinforces our commitment to addressing the rising demand for modern, flexible office spaces but also underscores our vision of offering integrated solutions in both residential and commercial real estate sectors.' 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 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 has reported 88.1% jump in consolidated net profit to Rs 31.8 crore in Q2 FY25 from Rs 16.9 crore posted in Q2 FY24. Total income rose by 5.7% year-over-year (YoY) to Rs 109.6 crore in the second quarter. The counter shed 0.87% to end at Rs 673.30 on Wednesday, 4 December 2024 on the BSE. Powered by Capital Market - Live

Net profit of Suraj Estate Developers rose 87.68% to Rs 31.83 crore in the quarter ended September 2024 as against Rs 16.96 crore during the previous quarter ended September 2023. Sales rose 5.44% to Rs 109.09 crore in the quarter ended September 2024 as against Rs 103.46 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales109.09103.46 5 OPM %58.1561.03 - PBDT44.9123.70 89 PBT43.7222.88 91 NP31.8316.96 88 Powered by Capital Market - Live

Total income rose by 5.7% year-over-year (YoY) to Rs 109.6 crore in the second quarter. EBITDA improved by 1% to Rs 64 crore in Q2 FY25 over Q2 FY24. EBITDA margin expanded to 58.4% in Q2 FY25 as compared with 61.1% in Q2 FY24. The company's pre-sales grew by 26% YoY in Q2 FY25 and by 13% in H1FY25 despite a seasonally weak quarter. Realizations grew 10% YoY in Q2 FY25 and 12% YoY in H1 FY25 on account of price hikes and better product mix. Collections grew 89% YoY in Q2 FY25 and 46% YoY in H1 FY25 on account of increased sales and collection from commercial project CCIL. 40.9% of revenue came from sales of luxury units and 59.1% of revenue was from sales of value luxury units for Q2 FY25. The company has set FY25 pre-sales guidance at Rs 850 crore, comprising Rs 650 crore from residential and Rs 200 crore from commercial segments. In October 2024, the company issued 34,12,277 equity shares at Rs. 714 per share, raising Rs 243.64 crore. Additionally, the board approved the allotment of 13,30,000 fully convertible warrants at Rs 750 per warrant, totalling Rs. 99.75 crore, securing an aggregate sum of Rs 343 crore. Rahul Thomas, executive director, Suraj Estate Developers, said: 'We are extremely pleased with our operational performance this quarter, particularly given that it traditionally represents a seasonally week quarter. Despite this, we achieved a commendable 14% growth in sales volume alongside a 10% improvement in realizations, showcasing the resilience and growing demand for our offerings. The year-over-year decline in finance costs is another positive development, largely attributable to utilization of IPO proceeds for debt repayment and reduced blended average cost of borrowings. These favorable financial conditions have contributed to strengthening our bottom line and overall financial stability. Additionally, our successful Rs 343 crore raise through a preferential issue of equity shares and share warrants marks a pivotal milestone, providing growth capital to support key initiatives, including land acquisitions, working capital enhancement, general corporate purposes, and issuance-related expenses. Our optimism regarding the potential within the MMR region remains steadfast, and we look forward to capitalizing on its growth prospects in alignment with our vision for a robust and diversified portfolio.' 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 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 scrip fell 2.89% to end at Rs 575.50 on the BSE yesterday. Powered by Capital Market - Live

Suraj Estate Developers will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

Suraj Estate Developers has allotted 21,05,467 equity shares of face value of Rs 5 each at an issue price of Rs 714 (including a premium of Rs 709) per equity share on preferential basis. Post allotment, the paid up equity share capital has increased from Rs 22,83,39,605/- (4,56,67,921 equity shares of face value of Rs 5/- each fully paid up) to Rs 23,88,66,940/- (4,77,73,388 equity shares of face value of Rs 5/- each fully paid up). Powered by Capital Market - Live

Suraj Estate Developers announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 14 September 2024 .Powered by Capital Market - Live

Suraj Estate Developers will hold a meeting of the Board of Directors of the Company on 19 August 2024.Powered by Capital Market - Live

Suraj Estate Developers announced that the 38th Annual General Meeting (AGM) of the company will be held on 26 September 2024.Powered by Capital Market - Live

Net profit of Suraj Estate Developers rose 104.83% to Rs 30.13 crore in the quarter ended June 2024 as against Rs 14.71 crore during the previous quarter ended June 2023. Sales rose 30.52% to Rs 133.67 crore in the quarter ended June 2024 as against Rs 102.41 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales133.67102.41 31 OPM %47.3545.64 - PBDT42.1019.95 111 PBT40.4019.37 109 NP30.1314.71 105 Powered by Capital Market - Live

Suraj Estate Developers will hold a meeting of the Board of Directors of the Company on 1 August 2024.Powered by Capital Market - Live