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

Suraj Estate Developers wins Mumbai?s Mahim project

Suraj Estate Developers announced that they had acquired a freehold plot of land measuring approximately 1,073.42 square metres located off Lady Jamshedji Road, Mahim (West), Mumbai, for a total cost of Rs 330.10 million. The project was described as a redevelopment venture involving seven tenants/occupants who had vacated their respective premises, resulting in the plot being vacant.

It was mentioned that after deducting the Floor Space Index (FSI) required for rehabilitating the tenants/occupants and allocating surplus area to MHADA, the estimated remaining carpet area available for ..

Suraj Estate Acquires Prime Mumbai Land

Suraj Estate Developers, a prominent real estate firm based in Mumbai, has recently acquired approximately 1073 square meters of prime land in the bustling city for a significant sum of Rs 33.10 crore. This acquisition marks yet another milestone for the company as it continues to strengthen its presence in Mumbai's competitive real estate market.

The newly acquired land is strategically located in a prime area of Mumbai, offering immense potential for development. With its proximity to key commercial hubs, transportation networks, and residential areas, the acquisition aligns with Sur..

Suraj Estate's Q3 Profits Plummet

In a challenging turn of events, Suraj Estate Developers, a prominent player in the real estate sector, experienced a substantial 65.49% decline in net profit during the third quarter of the fiscal year 2024. This unexpected setback has sent shockwaves through the industry, raising concerns about the broader economic landscape and the future trajectory of the real estate market.

The financial report released by Suraj Estate Developers reveals a stark contrast to previous quarters, where the company enjoyed relative stability. The dip in net profit is attributed to a combination of ind..

Brookfield India REIT to Acquire Bharti's Stake in Realty JV

Brookfield India Real Estate Trust (BIRET) is set to acquire nearly 50% stake in a real estate joint venture with Bharti Enterprises. This joint venture, Rostrum Realty Private Limited, includes properties across Delhi-NCR. The transaction is valued at approximately ?6,000 crores. Last year, Brookfield Asset Management already acquired a similar stake in four Bharti commercial properties.

With this acquisition, Brookfield?s REIT in India and Brookfield Asset Management will collectively control Rostrum Realty. This move is part of Brookfield's strategy to expand its real estate portfoli..

DLF Ventures into Mumbai, Goa with Luxury Homes This Year

DLF, India's leading real estate developer, is set to enter the luxury housing markets of Mumbai and Goa by the end of this financial year. The company plans to introduce high-end residential projects, marking its first significant ventures in these regions.

In Mumbai, DLF will launch a premium condominium project in Andheri, featuring luxury apartments priced between ?6 crore and ?8 crore. This development signifies DLF's re-entry into Mumbai's real estate market after a long hiatus. The project aims to cater to the burgeoning demand for luxury homes in India's financial capital.