Suraj Estate Developers files IPO papers with SEBI
Suraj Estate Developers Company Details
Suraj Estate Developers is among the top two developers with 15.25% market share as per supply (in number of units) and rank third with 13.50% market share as per absorption (in number of units) in the residential sub-markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel in South Central Mumbai region for calendar years 2016 to 2021 (till Q3).
It has been involved in the real estate business since 1986, and develop real estate across the residential and commercial sectors in the South Central Mumbai region.
In its residential portfolio, it is present across the “value luxury” and “luxury” segments across multiple price points with unit values ranging from Rs 10.00 million to Rs 130.00 million. In its commercial portfolio, it has constructed and sold built-to-suit corporate headquarters to its institutional clientele namely, Saraswat Cooperative Bank Limited (Prabhadevi) and Clearing Corporation of India Limited (Dadar). To cater to the increasing need for smaller independent offices in the commercial segment, it plans to foray into developing boutique office spaces on Tulsi Pipe Road, Mahim.
Suraj Estate Developers has a longstanding presence of over thirty five (35) years in the real estate market in Mumbai. Its brand name, longstanding operations and extensive experience in South Central Mumbai region provides it with significant opportunities in this fast-growing redevelopment sub-markets in the region.
It is one of the market leaders in the redevelopment projects in South Central Mumbai sub markets. From 2016 to 2021(till Q3), it had launched 14 residential projects out of which 12 projects (~86%) are redevelopment projects. Majority of its projects executed by it are on land owned by it or through development agreements with land-owners.
For more information, click www.surajestate.com
The Promoters of Suraj Estate Developers
Rajan Meenathakonil Thomas
Suraj Estate Developers IPO Main Objects
The Offer comprises the Fresh Issue by the Company
The Net Proceeds are proposed to be utilised towards
1. Repayment/Prepayment of the aggregate outstanding borrowings of the Company and its Subsidiaries, Accord Estates Private Limited, Iconic Property Developers Private Limited and Skyline Realty Private Limited; 2. Acquisition of land or land development rights
Suraj Estate Developers IPO Details
Fresh Issue : up to ? Shares /Rs 500 Crore
Face Value per share : Rs. 5
Suraj Estate Developers IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 0.48
Earnings per Share 2020-21,Rs 1.98
Earnings per Share 2021-22 7M Rs 3.75
Book Value of the Share as on 31.3.2021 Rs 45.90
Return on Net Worth: 19-20 6.59 %
Return on Net Worth: 20-21: 21.54 %
Return on Net Worth: 20-21 7M : 48.59 %
Equity Shares prior to the IPO : 33,250,000 Shares
Equity Shares after the IPO : (?) Shares
Suraj Estate Developers IPO Peer Comparison:
Oberoi Realty @ PE Multiple of 42.85
Godrej Properties @ PE Multiple of (-)
Prestige Estate @ PE Multiple of 12.05
Suntech Realty @ PE Multiple of 165.97
Sobha @ PE Multiple of 116.78
Brigade Enterprises @ PE Multiple of (-)
Kolte Patil @ PE Multiple of (-)
Macrotech Limited @ PE Multiple of 1072
Shriram Properties @ PE Multiple of (-)
Indiabulls Real Estate @ PE Multiple of 1093
Mahindra Lifespace @ PE Multiple of (-)
Omaxe @ PE Multiple of (-)
Suraj Estate Developers IPO Lead Managers
Centrum Capital , Anand Rathi Advisors
Registrar to Suraj Estate Developers IPO
Linkintime India Pvt Ltd.
Registered Office of Suraj Estate Developers
301, 3rd Floor, Aman Chambers, Veer Savarkar Marg, Opp. Bengal Chemicals, Prabhadevi, Mumbai 400025
Company Secretary & Compliance Officer : Shivil Kapoor