In the quite village of Saipem in Goa, juggling part-time jobs and nurturing a passion for cricket, a young Suraj Morajkar dared to dream big. Little did he know that his small venture would pave the way for a remarkable legacy in luxury real estate of Goa.
1. Early Life and Beginnings
Suraj Morajkar was born and raised in the village of Saipem in Goa. He came from a humble background and his father had a small job in a courier shop.
As a child, Suraj dreamed of becoming a professional cricketer and played at junior levels for Goa. He worked part-time jobs like being a courier and running a PCO booth to support himself:
“I played cricket for clubs and worked at the courier company from 6 pm to 9 pm,” he says. “I got Rs 400 per month at the courier shop and Rs 100 on days whenever I played cricket.”
2. Entrepreneurial Journey
Suraj’s entry into the real estate business was quite accidental. In 1995, a friend sought his help to sell a property near Candolim beach. Suraj built a duplex apartment on the land, and the successful sale of this project marked the beginning of his real estate journey.
In 1996, at age 24, he started Sun Estates Developers with just Rs. 90,000 capital. He began operations from a small 500 sq ft office with just four employees. After his marriage with Nilima in 1999, Suraj converted Sun Estates Developers from a proprietorship firm to a Limited Liability Partnership (LLP).
Growing up in Goa, he witnessed the influx of tourists seeking luxurious accommodations amidst the pristine landscapes and saw an opportunity to combine luxury with Goan heritage.
3. Luxury Real Estate Success
What Suraj focused was on building luxury villas and homes that blended with Goa’s natural landscape. His projects caught the attention of celebrities, industrialists and high-profile clients across India
Over 25 years, Sun Estates has completed projects worth over Rs. 3000 crore in Goa. The company’s turnover in 2021-22 was Rs. 250 crore
Suraj has built homes for celebrities like actors Neha Dhupia, and Chunky Pandey; cricketer Yuvraj Singh; designer Ritu Kumar; Eicher Motors MD, Vikram Lal; and former CEO, Café Coffee Day, Naresh Malhotra, to name a few.
Suraj pioneered the concept of low-rise, high-value luxury real estate in Goa’s villages. He collaborated with renowned international and Indian designers and architects for his projects
4. Entry into Hospitality
In 2010, Suraj developed Sol De Goa, a posh boutique hotel, close to Sinquerim Beach and about a decade later completed the lavish and sprawling Hilton Goa Resort at Saipem. Sol De Goa was praised by Condé Nast Traveller India and integrated Goan-Portuguese influences.
The Hilton Goa Resort is an iconic address that put Saipem on the global tourism map. During the pandemic, Hilton Goa Resort provided jobs to taxi drivers and daily-wage earners who had lost their livelihoods.
5. Creating Employment
Suraj Morajkar has always worked to develop his village and thus create employment for its people. “We have provided employment opportunities to more than 500 people who are directly or indirectly working with us, in our real estate company and hospitality ventures.”
What to Learn From Suraj Morajkar Success Story?
- Start Small But Start: Suraj has one advice to people starting out their entrepreneurial journey, “When people ask you to play rugby, you just go out and play, even if you know nothing. You will learn the rules gradually.”
- Find USP: Suraj focused on creating low-rise, high-value luxury villas that blended seamlessly with Goa’s natural beauty and cultural heritage. This innovative approach differentiated his projects and attracted discerning clients.
