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Suratwwala Business Group Bags Pune Redevelopment Project with ₹100-110 Cr Revenue Potential
Suratwwala Business Group Limited has secured a redevelopment project for a housing society on Prabhat Road, Pune, covering a land area of ~11,250 sq. ft. The company has executed a Sale Deed for a 25% share of the plot for ₹9.60 crores and a Development Agreement (DAPA) involving a ₹3 crore payment plus 3 flats to landowners. The project is expected to generate a total revenue of approximately ₹100-110 crores based on management estimates. With a free saleable area of roughly 55,000 sq. ft, this project significantly strengthens the company's real estate portfolio in a prime Pune locality.
Key Highlights
Execution of Sale Deed and DAPA for a redevelopment project on Prabhat Road, Pune, covering ~11,250 sq. ft of land.
Management estimates a total revenue potential of ₹100-110 crores from the project subject to market conditions.
The project offers a free saleable area of approximately 55,000 sq. ft excluding landowner entitlements.
Acquisition costs include ₹9.60 crores for a 25% land share and ₹3 crores plus 3 flats for development rights.
The transaction is a domestic order and does not involve any related party transactions or promoter interest.
💼 Action for Investors
Investors should monitor the company's ability to obtain timely regulatory approvals and the pace of construction, as this project represents a significant revenue pipeline for a company of this scale. The prime location in Pune suggests healthy demand and margin potential.