M&A

M&A

Suraj Estate acquires Hally Pacific for Rs.30-Cr; gets land in central Mumbai

BSE Announcement   Economic Times  

Mumbai-based publicly listed Suraj Estate Developers has acquired fellow Mumbai-based Hally Pacific Pvt Ltd for over INR 30.40 crore, making it a wholly owned subsidiary.Founded in 1992, Hally Pacific owns a vacant land parcel spread over nearly one-fifth of an acre on Sayani Road in central Mumbai's Prabhadevi area. Suraj Estate Developers plans to undertake development on this land, with an estimated sale carpet area of over 36,700 sq ft, projecting a gross development value of approximately INR 200 crore.Suraj Estate Developers has completed 45 projects with a developed area exceeding 1.6 million sq ft in the South-Central Mumbai micro-market.