Suraj Estate Developers

What Suraj Estate Developers does

Suraj Estate Developers Limited is an India-incorporated, BSE-listed real estate developer (ticker: SURAJEST) that originated in Kolhapur, Maharashtra, and is now expanding its focus to South-Central Mumbai. The company develops residential apartments (1-3 BHK, duplex, and terrace flats), commercial spaces (shops, offices, retail showrooms), and industrial NA plots across both Kolhapur and Mumbai micro-markets. Its current Kolhapur portfolio includes four ongoing projects — Royal 09 Tourist Business Hub, Royal Planet, Royal Dreamland, and ICON Industrial Park — while its emerging Mumbai portfolio is anchored by the Suraj One Business Bay commercial project in Mahim (estimated GDV Rs 1,200 crore; combined project GDV exceeding Rs 2,000 crore) and a growing land bank acquired through wholly-owned subsidiaries Iconic Property Developers and Hally Pacific Private Limited.

The business operates a direct-sales, owner-led model with on-site sales offices, website-based lead capture, and an enquiry-driven conversion process; no channel partners or third-party brokers are used. Revenue is generated entirely through one-time sale of developed inventory across residential, commercial, and industrial asset classes, with pricing quote-based rather than publicly disclosed. FY2026 consolidated revenue was Rs 555.86 crore with net profit of Rs 90.28 crore (down 9.86% YoY), while nine-month FY26 sales value grew 38% YoY and Q2 FY26 pre-sales rose 42% YoY, supported by 40,000 sq ft of commercial space sold within 45 days of One Business Bay's launch.

The platform is built entirely on conventional real estate development practices — RCC construction, AAC block brickwork, and standard building materials — with no proprietary technology, software products, or AI/ML capabilities disclosed. Leadership is family-controlled, with five named principals (Rajeev Parikh, Anand Mane, Chetan Vasa, Sunit Parikh, and Divyesh Vasa) covering planning, construction, finance, public relations, and architecture. Notably, the company is exposed to a Rs 186.1 million tax demand and Rs 184.3 million penalty, which is a material open item for due diligence.

Name

Suraj Estate Developers

Legal name

Suraj Estate Developers Limited

Website

https://surajdevelopers.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Suraj Estate Developers Limited is a BSE-listed Indian real estate developer building residential apartments, commercial spaces, and industrial plots across Kolhapur and South-Central Mumbai, serving individual home buyers, business owners, and manufacturing tenants.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Land Subdivision (2372), New Single-Family Housing Construction (except For-Sale Builders) (236115), Residential Building Construction (23611)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

New Construction & Builder Sales (BPAJAAAB), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Spec Home / Production Homebuilding (Tract & Volume Builders) (IMAFABAD)

Keywords

• Residential property development
• Commercial real estate
• Industrial plot sales
• Real estate construction
• Apartment development

Headquarters

HQ city

Kolhapur

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Residential Property Sales: Sale of residential apartments including 1BHK, 2BHK, 3BHK flats, and duplex/terrace flats in Kolhapur projects.
2. Commercial Property Sales: Sale of commercial spaces including shops, offices, retail showrooms, and corporate spaces in business hub projects.
3. Industrial Plot Sales: Sale of industrial NA plots for machine shops, foundries, warehouses, startups, godowns, and manufacturing units.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Suraj Estate Developers is a Kolhapur-based real estate developer that builds and sells residential apartments (1BHK, 2BHK, 3BHK, duplex and terrace flats), commercial spaces (shops, offices, retail showrooms, corporate spaces), and industrial NA plots for manufacturing and warehousing. The company operates directly through on-site sales offices and develops projects primarily in Kolhapur, with recent expansion into South-Central Mumbai via subsidiaries.

Product overview

Suraj Estate Developers is a Kolhapur-based real estate developer with 32 years of experience offering a portfolio of residential, commercial, and industrial projects. The product portfolio includes Royal 09 Tourist Business Hub (commercial shops and offices), Royal Planet (premium residential duplex/terrace flats), Royal Dreamland (green residential project with multiple flat configurations), and ICON Industrial Park (industrial plots for manufacturing and warehousing). The company also has past projects including residential complexes, commercial buildings, and plotting developments across Kolhapur.

Differentiator

Problem solved

Functional benefit

Brands

• Suraj One Business Bay: Commercial project in Mahim, Mumbai with estimated GDV of Rs 1,200 crore
• One Business Bay

Products and services

• Royal 09 Tourist Business Hub A fully commercial building project on the most prominent road of Kolhapur near CBS, featuring shops, showrooms, corporate offices, and retail spaces with double-level parking, lift facilities, and fire safety systems.
• Royal Planet Premium residential project offering duplex and terrace flats in central Kolhapur with modern amenities including lifts with power backup, gymnasium, basketball court, EV charging station, and earthquake-resistant RCC structure.
• Royal Dreamland Modern green residential project near Phulewadi Ring Road in Kolhapur offering shops, offices, and 1-3 BHK flats with green spaces, club house, car parking, solar net metering, and CCTV security.
• ICON Industrial Park Premium industrial NA plots in Ambapwadi on Pune Bangalore Highway for machine shops, foundries, warehouses, startups, godowns, processing units, manufacturing units, and IT enterprises with TP sanctioned layout and government industrial subsidies.

Quantifiable outcome

• 40,000 sq ft of commercial space sold within 45 days of project launch
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators13 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Oberoi Realty: Listed Indian real estate developer focused on premium and luxury residential and commercial projects in Mumbai, including the Worli-Lower Parel micro-market that overlaps with Suraj's South-Central Mumbai redevelopment strategy. Both target HNI buyers with high-rise and mixed-use developments.
• Macrotech Developers (Lodha): One of India's largest listed real estate developers with a dominant Mumbai portfolio spanning luxury, premium, and affordable housing plus commercial developments. Highly comparable to Suraj's Mumbai-focused expansion strategy, though at significantly larger scale.
• Kalpataru Limited: Mumbai-based listed real estate developer with residential and commercial projects across the Mumbai Metropolitan Region. Comparable developer profile and product mix, particularly in the redevelopment and South-Central Mumbai micro-markets.
• Sunteck Realty: Mumbai-focused listed real estate developer with premium and luxury residential and commercial projects in Worli, BKC, Goregaon and Andheri. Directly comparable business model to Suraj's South-Central Mumbai premium residential and commercial focus.
• Sobha Limited: Listed Indian real estate developer with residential and commercial projects across India including Mumbai. Comparable as a publicly listed developer with similar vertical integration, though with broader geographic footprint than Suraj's Maharashtra-only operations.
• Kolte-Patil Developers: Listed Indian real estate developer with a strong Pune-Mumbai residential and commercial portfolio. Comparable mid-sized listed developer profile with similar growth-stage characteristics and product mix.

Broad incumbents

• Godrej Properties: Listed Indian real estate developer with pan-India residential and commercial portfolio, including significant Mumbai presence. Comparable as a broad-based listed developer, though Suraj is far more geographically concentrated in Maharashtra.
• Hiranandani Group: Established Mumbai-based real estate developer known for large-scale townships and premium residential projects in Powai, Thane and other Mumbai markets. Comparable as an established Mumbai brand with premium positioning, though much larger scale than Suraj.
• Shapoorji Pallonji Real Estate: Large Indian real estate developer with significant Mumbai presence across residential, commercial and mixed-use projects. Comparable as a diversified listed/established Mumbai developer, though at much greater scale.

Emerging players

• Piramal Realty: Mumbai-focused developer of premium residential projects targeting HNI and luxury segments in markets like Lower Parel and Byculla. Comparable premium positioning and product type to Suraj's planned Mumbai luxury residential redevelopment projects.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Suraj-Estate-Developers-100066274523336
• LinkedInlinkedin.com/company/suraj-estate-developers---india

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Suraj Estate Developers