Suraj Estate Acquires Hally Pacific in Prabhadevi Deal

04 Mar 2026 CW Team

Suraj Estate Developers Limited has completed the acquisition of 100 per cent of the shares of Hally Pacific Private Limited, which owns a vacant land parcel on Sayani Road in Prabhadevi, Mumbai. The acquisition was executed on 20 February 2026 for a total consideration of Rs 304.0 million (mn). Hally Pacific has become a wholly owned subsidiary of Suraj Estate Developers.

The acquired land measures approximately 717.39 square metres and is located in a well established micro market characterised by strong demand fundamentals and excellent connectivity. The site benefits from proximity to commercial districts such as Lower Parel and Worli and established social infrastructure. The location is expected to support residential development demand within the South-Central Mumbai area.

Suraj Estate Developers intends to develop a project with an estimated sale carpet area of about 0.0367 million (mn) sq ft, equivalent to roughly 36,700 sq ft, and an estimated gross development value of two billion (bn). The company considers the project to strengthen its near to medium term pipeline and to consolidate its presence in its core micro market. The board views the acquisition as aligned with a strategy of selective acquisitions and disciplined growth.

Suraj Estate Developers, which has operated since 1986, has completed more than 45 projects with a developed area of 1.609 million (mn) sq ft. The company has 13 ongoing projects with a developable area of 2.354 million (mn) sq ft and a saleable RERA carpet area of 0.755 million (mn) sq ft, together with 17 upcoming projects with an estimated sale carpet area of 1.194 million (mn) sq ft. The firm focuses on redevelopment opportunities in South-Central Mumbai and cites tenant settlement expertise as a core competence for unlocking value.

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