Suraj Estate IPO GMP, review, Date, share Price, 2023

Suraj Estate  IPO description – Suraj Estate   India Limited is coming up with its Initial public offering. The IPO will be open for subscription on December 18, 2023

 

 

Suraj Estate IPO – Details

 

Suraj Estate IPO Dates 18 – 20 December 2023
Suraj Estate IPO Price INR 340 – 360 per share
Fresh issue INR 400 crore
Offer For Sale NIL
Total IPO size INR 400 crore
Minimum bid  41 shares (INR 14,760)
Face Value  INR 5 per share
Retail Allocation 35%
Listing On BSE, NSE

DOMS Industries IPO GMP

INOX India IPO Price, GMP,

 

Suraj Estate Developers IPO – Date Schedule

 

IPO Open Date 18 December 2023
IPO Close Date 20 December 2023
Basis of Allotment Date 21 December 2023
Initiation of Refund 22 December 2023
Credit of Shares to Demat Account 22 December 2023
IPO Listing Date 26 December 2023
Cut-off time for UPI mandate confirmation 5 PM on 20 December 2023

 

Suraj Estate IPO – About Company 

 

Suraj Estate Developers Limited excels in real estate construction, prioritizing top-notch collaborations and client satisfaction.

Key Points:

  • Experience: Over 35 years of expertise in real estate development, focusing on residential and commercial projects in South Central Mumbai.
  • Residential Portfolio: Presence in “value luxury” and “luxury” segments, offering a diverse range of units priced from ₹10.00 million to ₹130.00 million.
  • Commercial Portfolio: Constructed and sold built-to-suit corporate headquarters to institutional clients, including Saraswat Cooperative Bank Limited, National Stock Exchange of India, Union Bank of India, and Clearing Corporation of India Limited.
  • Project Count: Completed more than 40 projects spanning residential and commercial segments in Mumbai.
  • Recent Developments: Launched 15 residential projects from 2016 to Q1 2023, with 87% being redevelopment projects. Redeveloped homes for over 1,011 tenants at no cost under regulation 33(7) of the Development Control and Promotion Regulation, 2034.
  • Completed Projects: Successfully delivered 42 projects, covering a developed area exceeding 1,046,543.20 sq.ft. in South-Central Mumbai.
  • Ongoing Projects: Currently managing 11 projects with a developable area of 1,714,962.03 sq.ft. and saleable RERA carpet area of 497,774 sq.ft.
  • Upcoming Projects: Planning 21 projects with an estimated carpet area of 843,192 sq.ft.
  • Awards: Recognized as the Best Developer of the Year – Residential at the CNN-News18 Real Estate & Business Excellence Awards in Mumbai on February 2, 2020

 

Suraj Estate IPO GMP, review, Date, share Price, 2023
Suraj Estate IPO GMP, review, Date, share Price, 2023

 

Suraj Estate IPO – Industry Overview 

 

In last six to seven years, the real estate sector in India has witnessed several changes because of demonetization, the liquidity crisis and the implementation of RERA and GST. 

 Despite the spiraling COVID-19 pressure across the country, the Indian residential sector made a significant comeback in 2021 with absorption rebounding to 171% of the corresponding period in 2020. In 2019, the absorption was recorded at 2.61 lakhs units which depicts that 2021 absorption has attained ~90% of the absorption recorded in 2019. 

This clearly demonstrated a steady recovery as compared to 2020. The Mumbai Metropolitan Region (“MMR”), Pune, Bengaluru, Hyderabad, the National Capital Region (“NCR”), Chennai and Kolkata (“Top Seven Indian Markets”) recorded absorption of approximately 2.37 lakh units in 2021 as compared to 1.38 lakh units in 2020. Further, the absorption numbers in 2022 have improved to 3.65 Lakh units. In Q1 2023 the absorption already is about 1.13 Lakh units and at same rate it stands to beat 2022 Absorption Levels. 

 New launches have jumped by 185% – from 127,959 units in 2020 to 236,693 units in 2021. The same is almost in line with the launches recorded in 2019. There has also been an improvement in the 2022 numbers where the total launches are 3.58 Lakhs units. In Q1 2023 there are 1.09 Lakhs launched units.

 

Suraj Estate Developers Financial Performance

 

  FY 2022 FY 2023 Q1 FY 2024
Revenue 272.72 305.74 102.41
Expenses 237.76 264.68 83.44
Net income 26.50 32.06 14.53
Margin (%) 9.72 10.49 14.19

Figures in INR Crores

 

Suraj Estate Developers Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS 1.98 8.35 10.10
PE ratio 33.66 – 35.64
RONW (%) 23.62 77.22 58.18
NAV 45.90 12.33 22.49
ROCE (%) 14.51 19.42 21.93
EBITDA (%) 36.10 48.30 49.39
Debt/Equity 20.60 16.29 8.31

 

Company  Strengths

 

  • Established brand with a long-standing presence in Value Luxury Segment and Luxury Segment in the residential real estate market of South-Central Mumbai region;
  • Diversified portfolio encompassing product offerings across various price points in value luxury and luxury segments;
  • Expertise in tenant settlement in the redevelopment projects in residential sub-markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel;
  • Robust marketing and sales strategies.

 

Objective Of The Issue

 

  • Repayment/Prepayment of the aggregate outstanding borrowings of the company and its subsidiaries, Accord Estates Private Limited and Iconic Property Developers Private Limited.
  • Acquisition of land or land development rights.
  • General corporate purposes.

 

Suraj Estate IPO GMP Today 

 

Date IPO GMP Kostak Subject to Sauda
18 December 2023 65 2,300
16 December 2023 55 1,900
15 December 2023 60 2,100
14 December 2023 50 1,500

 

 

Suraj Estate IPO – Allotment Status

Suraj Estate IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

 

Suraj Estate Developers IPO Peer Comparison

 

S. No. Face Value Company Name PE
1 10 Oberoi Realty Limited 25.63
2 1 Sunteck Realty Limited 4536.00
3 10 Keystone Realtors Limited 70.83
4 10 Shriram Properties Limited 27.42
5 10 Mahindra Lifespace Developers Limited 77.87
6 10 D B Realty Limited -72.09
7 10 Hubtown Limited 16.16

 

Suraj Estate Corporation IPO – Lots Size & Price

 

Application Lots Shares Amount
Retail (Min) 1 41 14,760
Retail (Max) 13 533 1,91,880
S-HNI (Min) 14 574 2,06,640
S-HNI (Max) 67 2747 9,88,920
B-HNI (Min) 68 2788 10,03,680

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Disclaimer-The content presented here is intended solely for analytical and educational purposes. If you consider investing, it is strongly advised to conduct your own thorough research. We do not endorse or recommend any specific stocks or initial public offerings (IPOs).

 

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