Suraj Estate Developers Limited — Others, 14-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Suraj Estate Developers Limited has filed a statement confirming no deviations in the utilization of funds raised via its recent preferential issue of ₹5000 million, completed between October 5th and 18th, 2024. For the quarter ended December 31, 2024, ₹2935.11 million was utilized, primarily for land acquisition and working capital requirements. The monitoring agency, CARE Ratings Limited, has reviewed this statement, with no deviations reported. This transparency may bolster investor confidence, suggesting robust management oversight and adherence to financial strategies. The potential for continued growth in land development could present opportunities for investors moving forward.