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Suraj Estates — A Distinct Play, For Choice Of Micro-Markets, Products, Says Anand Rathi On 'Buy' Initiation
Anand Rathi initiates coverage Suraj Estate with a Buy rating and a target price of Rs 442, based on discounted cash flow methodology.
23 Apr 2025, 01:57 PM IST 
At current market price of Rs 314, the brokerage sees the stock is mispriced taking into consideration the bear case target price of Rs 372/share where launches of marquee projects are delayed.
(Suraj Vitalis - A residential building developed by Suraj Estate Developers Ltd.'s in Mahim - Photo Source Company website)
Its choice of micro-markets and differentiated products make Suraj Estate stand out. On its long-standing operations (over 38 years’ delivery) in south-central Mumbai (high barriers to entry, paucity of land parcels), cost and time effective redevelopment model, keen focus on the value-luxury category (conforming to demographics) and select luxury developments, it has emerged as a real estate supplier of choice in its chosen markets....
