Small-cap realty stock Suraj Estate Developers jumped almost 6 per cent in intraday trade on the BSE on Friday, November 14, after the company announced the launch of its upcoming commercial project, “One Business Bay”. opened at ₹288 against its previous close of ₹278.60 and jumped 5.7 per cent to an intraday high of ₹294.60. Around 1:05 pm, the stock traded 5.5 per cent higher at ₹293.90.
Suraj Estate Developers launches commercial project
Suraj Estate Developers, on November 13, announced the launch of its upcoming marquee commercial development, One Business Bay, with a carpet area of 2.09 lakhs sq ft and an estimated gross development value (GDV) of ₹1,200 crores, marking a key milestone in the company’s growth plans.
The project is located at Senapati Bapat Marg, Mumbai, which is well-connected to Mumbai’s key business districts through the western and central railway networks.
The company said the project was designed by renowned Architect Hafeez Contractor.
“It is designed as a complete ecosystem to accommodate 182 premium business office units, complemented by premium retail spaces, restaurants, cafés, and a dedicated double-height E-Deck breakout zone for employee socialising and recreation,” it said.
“One Business Bay represents a significant step forward in our strategy to strengthen Suraj Estate’s commercial footprint in South Central Mumbai. With a GDV of ₹1,200 crores, we anticipate strong institutional and end-user interest, driven by the location’s connectivity advantages, the project’s design excellence, and its sustainability-led approach,” said Rahul Thomas, Whole-Time Director, Suraj Estate Developers.
“With this launch, we have launched projects with a cumulative GDV of nearly ₹1,600 crore in this financial year, underscoring our steady growth momentum and commitment to value creation across asset classes,” said Thomas.
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