Suraj Estate Developers Limited has completed the acquisition of 100 per cent shares of Hally Pacific Private Limited, the company said on 23 February 2026. The transaction was executed pursuant to a share purchase agreement dated 20 February 2026 for a consideration of approximately Rs 304.0 million (mn), resulting in Hally Pacific becoming a wholly owned subsidiary. The acquired entity holds a vacant land parcel of about 717.39 square metres at Sayani Road, Prabhadevi, a micro-market in South-Central Mumbai with strong demand fundamentals and connectivity.

Suraj Estate intends to develop the site and the project is estimated to have a sale carpet area of about 0.0367 mn square feet and an estimated gross development value of approximately Rs 2 billion (bn). The company indicated that the project is expected to strengthen its near-to-medium term project pipeline and consolidate its presence in its core operating micro-market of South-Central Mumbai. Management emphasised disciplined growth through selective acquisitions and efficient execution.

The acquisition expands the company’s upcoming portfolio in a sub-market that benefits from proximity to Lower Parel and Worli and established social infrastructure. The company noted that development on this parcel should enhance medium-term revenue visibility and contribute to long-term value creation for stakeholders. Planning and execution timelines will be aligned with market conditions and regulatory approvals.

Suraj Estate Developers has been active in South-Central Mumbai since the company’s incorporation and has completed more than 45 projects with a developed area exceeding 1.609 mn square feet. It presently has 13 ongoing projects with a developable area of 2.354 mn square feet, saleable RERA carpet area of 0.755 mn square feet and 17 upcoming projects with an estimated sale carpet area of 1.194 mn square feet.

The company described forward-looking statements in the release as subject to risks and uncertainties and said actual outcomes may differ. For investor queries, the company provided contact details in the filing.