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Suraj Estate IPO

Suraj Estate Developers is a well-known real estate building company that places a strong emphasis on excellent collaborations and client satisfaction. The company has been in business for over thirty years and has a wealth of experience in developing residential and commercial real estate in South Central Mumbai. In Mumbai, Suraj has developed over a million square feet of land with success.

Suraj Estate offers a residential portfolio that spans multiple price ranges, with unit values ranging from INR 10.00 million to INR 130.00 million. It is present in both the “value luxury” and “luxury” segments. Within the business sector, Suraj Estate has built and sold custom corporate headquarters to institutional customers, such as Clearing Corporation of India Limited (Dadar) and Saraswat Cooperative Bank Limited (Prabhadevi). In Mumbai, the company has finished more than 40 projects in the residential and commercial sectors.

Suraj Estate launched 15 residential projects between 2016 and Q1 2023, of which 13 (or around 87% of the total) were redevelopments. By March 31, 2023, the organisation has successfully given over 1,011 renters free accommodation. adhering to the regulations outlined in Section 33(7) of the Development Control and Promotion Regulation, 2034 (DCP Regulations).

As of 31 May 2023, Suraj has completed 42 projects, covering a developed area exceeding 1,046,543.20 square feet in the South Central Mumbai region. In addition to these completed projects, the company currently has 13 ongoing projects, with a developable area totaling 20,34,434.40 square feet and a saleable RERA carpet area of 609,928 square feet. Furthermore, there are 16 upcoming projects with an estimated carpet area of 744,149 square feet.

Suraj Estate IPO Details

Signature Global IPO Details
Suraj Estate IPO Dates
18 – 20 December 2023
Suraj Estate IPO Price
INR 340 – 360 per share
Fresh issue
INR 400 crore
Offer For Sale
NIL
Total IPO Size
INR 400 crore
Minimum bid (size)
41 shares (INR 14,760)
Face Value
INR 5 per share
Retail Allocation
35%
Listing On
BSE, NSE

Suraj Estate Developer’s Financial Performance

Signature Global Financial Performance

FY21

FY22

FY23

Q1 FY 24

Revenue

239.99

272.72

305.74

102.41

Expenses

234.95

237.76

264.68

83.44

Net income

6.28

26.50

32.06

14.53

Margin (%)

2.62

9.72

10.49

14.19

Figures in INR Crore unless specified otherwise

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