Suraj Estate Developers Ltd. Company History and Annual Growth Details

The Company was incorporated at Mumbai, Maharashtra under the name ‘Suraj Estate Developers Private Limited’ on September 10, 1986 as a private limited company, under the Companies Act, 1956 and was granted a certificate of incorporation by the RoC. Subsequently, the Company was converted into a public limited company, pursuant to a special resolution of the shareholders of the Company dated October 30, 2021 and the name of the Company was changed to ‘Suraj Estate Developers Limited’ and a fresh certificate of incorporation dated December 9, 2021 was issued to the Company by the RoC.

Major events and milestones :

1986
- The Company was incorporated as a private limited company.

1990
- The Company successfully completed its maiden project ‘Suraj Venture A’ a residential project located at Mahim (West), Mumbai.

1992
- The Company successfully delivered a residential building known as ‘Vinayak Darshan’ located at Dadar (West), Mumbai, which was exclusively sold to a nationalized public sector bank.

1996
- The Company successfully delivered a residential building known as ‘Suraj Heights III’ located at Goregaon (East), Mumbai, which was exclusively sold to one of the leading private sector bank as staff quarters.

2000
- The Company successfully delivered ‘ICICI Apartments’ a residential project located at Kirti College Lane, Dadar (West), Mumbai, which was exclusively sold to one of the leading private sector bank as quarters for senior officers.
- The Company successfully delivered ‘NEAT House’ a residential project located at Dadar (West), Mumbai, which was exclusively sold to a stock exchange as quarters for senior officers.

2005
- The Company delivered 14 apartments in ‘Gloriosa Apartment’ a residential project located at Dadar (West), Mumbai, to Clearing Corporation of India Limited as quarters for their senior officers.

2007
- The Company successfully delivered ‘ICICI Apartments’ a residential project locate at Shankar Ghanekar Road, Prabhadevi, Mumbai, which was exclusively sold to one of the leading private sector bank as quarters for senior officials.

2010
- The Company successfully delivered ‘Saraswat Bank Bhavan’ a built to suit commercial building consisting of ground +7 upper floors located at Prabhadevi, Mumbai as corporate office for Saraswat Co-operative Bank Limited.

2012
- The Company successfully delivered ‘CCIL Bhavan’ a built to suit commercial building consisting of ground + 6 upper floors located at Dadar (West), Mumbai as corporate office for Clearing Corporation of India Limited.

2016
- Accord Estates Private Limited, the Material Subsidiary, entered into a Joint Development Agreement with Runwal Realty Private Limited for the development of a residential project known as ‘Nirvana’ located at Parel (East).

2017
- The Company with its launch of its flagship project known as ‘Palette’ located at Dadar (West), Mumbai and entered into the luxury residential segment of the real estate market of South Central Mumbai.
- The Company launched the sea facing luxury project ‘Ocean Star’ at Dadar (West), Mumbai located less than 100 meters from sea.

2018
- The Company successfully raised Rs.200 Crore term loan facility from Piramal Capital & Housing Finance Limited for its luxury projects Palette, Tranquil Bay and Mangirish.

2019
- The Company through the launch of ‘Louisandra’ a residential value luxury project located at Dadar (West), Mumbai, forayed into the value luxury segment comprising of 1 BHK and compact 2 BHK in the South Central Mumbai.
- The Company launched ‘Ave Marie Apartments’ a residential value luxury project located at Dadar (West), Mumbai.

2021
- The Company acquired vacant land parcel at Tulsi Pipe Road from Tata Motors Limited.
- The Company received investment from ICICI Ventures Funds Management Company by way of subscription to Non-Convertible Debentures for part financing project cost of newly launched value luxury project ‘Suraj Eterna’.
- The Company launched ‘Vitalis’ a residential value luxury project located at L.J Road, Mahim (West), Mumbai.
- The Company launched ‘Suraj Eterna’ a residential value luxury project located at Off. L.J. Road, Mahim (West), Mumbai.

2022
- The Company have recently launched “Suraj Parkview 2” a residential value luxury project located at Final Plot No 702-704, TPS IV of Mahim Division, Anant Patil Marg, Dadar (West), Mumbai -400028.
- The Company received investment from ICICI Ventures Funds Management Company by way of subscription to Non-Convertible Debentures for part financing project cost of newly launched value luxury project ‘Suraj Parkview 2’.
- The Company successfully raised ?1,400 million term loan facility from Tata Capital Housing Finance Limited for the value luxury project Vitalis towards refinancing of existing debt and for construction finance for the project.

2023
- The Company received financing of Rs.46.50 Crores from Axis Finance Limited.
- The Company have entered in to Memorandum of Understanding (MOU) Agreement with Clearing Corporation of India Limited (CCIL) for Sale of Additional Commercial Floors on a built to suit model in the ongoing project CCIL Bhavan (Phase 2 - Additional 2.5 Floors).