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. 

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?