Suraj Estate Developers’ shares climbed nearly 5% on Wednesday after the real estate construction company announced the launch of its new Rs 100 crore luxury project in Mumbai. 

Suraj Estate’s shares hit an intraday high of Rs 341.75, 4.97% higher than its previous closing price on the National Stock Exchange (NSE). The stock closed 1.37% higher at Rs 330. 

Suraj Estate Developers launched a new luxury residential project, Suraj Lumina ‘at Veer Savarkar Marg, Mahim (West), Mumbai. The project is in close proximity to some key landmarks like Shivaji Park, Hinduja Hospital and Bombay Scottish School. 

Suraj Lumina comprises 35 sea view apartments, including both 2BHK and 3BHK configurations, with a total saleable carpet area of 22,376 sq ft and provides facilities such as mechanised tower car parking, open sky garden, fitness centre and rainwater harvesting system, among others. 

The company informed the exchanges on February 6 that the estimated gross development value of the project is close to Rs 100 crore, and it is expected to be completed by December 2028.