Small-cap realty stock Suraj Estate Developers jumped almost 6 per cent in intraday trade on the BSE on Friday, November 14, after the company announced the launch of its upcoming commercial project, “One Business Bay”. Suraj Estate share price opened at ₹288 against its previous close of ₹278.60 and jumped 5.7 per cent to an intraday high of ₹294.60. Around 1:05 pm, the stock traded 5.5 per cent higher at ₹293.90.
Suraj Estate Developers launches commercial project
Suraj Estate Developers, on November 13, announced the launch of its upcoming marquee commercial development, One Business Bay, with a carpet area of 2.09 lakhs sq ft and an estimated gross development value (GDV) of ₹1,200 crores, marking a key milestone in the company’s growth plans.
The project is located at Senapati Bapat Marg, Mumbai, which is well-connected to Mumbai’s key business districts through the western and central railway networks.
The company said the project was designed by renowned Architect Hafeez Contractor.
“It is designed as a complete ecosystem to accommodate 182 premium business office units, complemented by premium retail spaces, restaurants, cafés, and a dedicated double-height E-Deck breakout zone for employee socialising and recreation,” it said.
“One Business Bay represents a significant step forward in our strategy to strengthen Suraj Estate’s commercial footprint in South Central Mumbai. With a GDV of ₹1,200 crores, we anticipate strong institutional and end-user interest, driven by the location’s connectivity advantages, the project’s design excellence, and its sustainability-led approach,” said Rahul Thomas, Whole-Time Director, Suraj Estate Developers.
“With this launch, we have launched projects with a cumulative GDV of nearly ₹1,600 crore in this financial year, underscoring our steady growth momentum and commitment to value creation across asset classes,” said Thomas.
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