Suraj Estate Developers’ net profit up 17.44 percent quarter-on-quarter in Q4 FY24
Real Estate

Suraj Estate Developers’ net profit up 17.44 percent quarter-on-quarter in Q4 FY24

Suraj Estate Developers has reported a growth of 17.44 per cent in its net consolidated profit during the quarter ended 31 March 2024. Its profit after tax stood at Rs 194.6 million in Q4 FY24 as against Rs 165.7 million that it registered in the quarter ended 31 December 2024, the company said in a BSE filing. The company's net consolidated total income stood at Rs 1.03 billion in Q4 FY24. The board of directors recommended a final dividend of @20 percent i.e., Re 1 per equity share of face value of Rs 5 each of the company for the financial year 2023-24. The board has also approved a fund raise by way of issuance of equity shares or any other equity linked or convertible securities or warrants approximately aggregating an amount upto Rs 5 billion in one or more tranches, through all or any permissible mode or method, including, private placement, preferential issue, rights issue, qualified institution placement.

The company has acquired freehold plot of land admeasuring ~ 1,073.42 sq m situated in Mahim West, Mumbai for a total consideration of Rs 331 million. The project will redevelop seven tenants or occupants who have vacated their respective premises and the plot is rendered vacant. After deducting the FSI required for rehabilitating the said tenants or occupants of the property and surplus area to be handed over to MHADA, the estimated balance carpet area available for sale is about 2,787 sq m with a GDV of Rs 12 million.

Alongside this, the company won a bid for obtaining development rights of land component admeasuring 4,790 sq m with five existing buildings thereon translating to a GDV of ~Rs 2.25 billion. 

Suraj Estate Developers has reported a growth of 17.44 per cent in its net consolidated profit during the quarter ended 31 March 2024. Its profit after tax stood at Rs 194.6 million in Q4 FY24 as against Rs 165.7 million that it registered in the quarter ended 31 December 2024, the company said in a BSE filing. The company's net consolidated total income stood at Rs 1.03 billion in Q4 FY24. The board of directors recommended a final dividend of @20 percent i.e., Re 1 per equity share of face value of Rs 5 each of the company for the financial year 2023-24. The board has also approved a fund raise by way of issuance of equity shares or any other equity linked or convertible securities or warrants approximately aggregating an amount upto Rs 5 billion in one or more tranches, through all or any permissible mode or method, including, private placement, preferential issue, rights issue, qualified institution placement. The company has acquired freehold plot of land admeasuring ~ 1,073.42 sq m situated in Mahim West, Mumbai for a total consideration of Rs 331 million. The project will redevelop seven tenants or occupants who have vacated their respective premises and the plot is rendered vacant. After deducting the FSI required for rehabilitating the said tenants or occupants of the property and surplus area to be handed over to MHADA, the estimated balance carpet area available for sale is about 2,787 sq m with a GDV of Rs 12 million. Alongside this, the company won a bid for obtaining development rights of land component admeasuring 4,790 sq m with five existing buildings thereon translating to a GDV of ~Rs 2.25 billion. 

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code