The share price of Suraj Estate Developers gained on December 5, following the announcement of its acquisition of a vacant parcel of land in Mahim, Mumbai.
At 10:11am, Suraj Estate Developers was quoting at Rs 685.00, up Rs 11.70, or 1.74 percent, on the BSE.
The company, via its wholly-owned subsidiary Iconic Property Developers, has acquired a 1,464-square meter (~15,758 square feet) plot at Senapati Bapat Marg, Mahim (W), Mumbai, for Rs 101 crore.
The company to develop a commercial building with an estimated RERA carpet area of 1.03 lakhs square feet with a gross development value (GDV) of around Rs 525 crore.
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The company had posted 88 percent jump in its Q2FY25 net profit at Rs 31.83 crore, YoY.
The share touched a 52-week high of Rs 842.00 and a 52-week low of Rs 256.00 on 20 August, 2024 and 27 March, 2024, respectively.
Currently, the stock is trading 18.65 percent below its 52-week high and 167.58 percent above its 52-week low.
The share price jumped more than 100 percent in last six months.
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