Mumbai: Suraj Estate Developers Limited, a leading real estate developer in South Central Mumbai, announced the successful completion of the acquisition of 100% shares of Hally Pacific Private Limited, a company that owns a strategically located vacant land parcel at Sayani Road, Prabhadevi, Mumbai.
The acquisition has been completed pursuant to a Share Purchase Agreement executed on February 20, 2026, for a total consideration of approximately 30.40 crore, resulting in Hally Pacific Private Limited becoming a wholly owned subsidiary of the Company.
The acquired entity owns a vacant land admeasuring approximately 717.39 square meters situated at Prabhadevi, one of Mumbai’s established micro-markets characterized by strong demand fundamentals, excellent connectivity, and proximity to key commercial districts such as Lower Parel and Worli.
Suraj Estate Developers intendsto undertake development on the said project site which an estimated sale carpet area of ~0.367 lakhs sq ft with an estimated Gross Development Value (GDV) of approximately X200 crore. The project is expected to strengthen the Company’s near-to-medium term upcoming projects pipeline and further consolidate its presence in its core operating micro-market of South-Central Mumbai.
Rahul Thomas, Whole-time Director, Suraj Estate Developers, said, “This acquisition marks another significant step in strengthening our development pipeline within our core South- Central Mumbai markets. The Prabhadevi micro-market continues to demonstrate strong demand fundamentals supported by excellent connectivity and established social infrastructure. With an estimated GDVofapproximatelyX200crore,theprojectbolstersourportfolioofupcomingprojectstherebyenhancing our medium-term revenue visibility.
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.”
