Suraj Estate Developers Limited has completed the acquisition of 100 per cent shares of Hally Pacific Private Limited, which owns a vacant land parcel at Sayani Road, Prabhadevi, Mumbai. The acquisition was completed under a share purchase agreement executed on February 20, 2026 for a consideration of Rs 304 million (mn), resulting in Hally Pacific becoming a wholly owned subsidiary of the company. The company has announced plans to develop the site as part of its South-Central Mumbai pipeline.

The acquired land measures 717.39 square metres and is located in an established micro-market characterised by strong demand fundamentals and excellent connectivity to Lower Parel and Worli. Suraj Estate estimates an approximate sale carpet area of 0.0367 million (mn) square feet for the project and an estimated gross development value of Rs two billion (bn). The project is expected to strengthen the company’s near to medium term pipeline and to consolidate its presence in the Prabhadevi sub-market.

Management indicated that the acquisition aligns with the company’s strategy of selective acquisitions and disciplined growth and that the Prabhadevi site complements existing development capabilities including tenant settlement expertise. Company executives stated that the micro-market’s established social infrastructure and connectivity support medium term demand and revenue visibility for upcoming projects. The firm said it is actively evaluating additional opportunities that fit its strategic vision while prioritising efficient execution.

Suraj Estate Developers has operated in the South-Central Mumbai region since 1986 and has completed more than 45 projects with a developed area of 1.609 million (mn) square feet. The company currently has 13 ongoing projects with a developable area of 2.354 million (mn) square feet and a saleable RERA carpet area of 0.755 million (mn) square feet, along with 17 upcoming projects with an estimated sale carpet area of 1.194 million (mn) square feet. The transaction is expected to contribute to long term value creation for stakeholders and to bolster the firm’s project pipeline.